Owning a vacation rental property can be a wonderful thing. Imagine a home in the sunshine in the State of Florida that will bring enjoyment to both you and your family and friends. Maybe on one of the world-class beaches that the state has or how about in the Number 1 city for fun on the planet - Orlando? But what about the stuff you need to know prior to buying a vacation home?
First decision you need to consider - what do I want from my vacation home? What kind of vacationer are you? Do you like nothing better than being away from it all in a quiet residential area, off the beaten track? Where the locals are welcoming and you feel at home? Do you like beaches and relaxation by the water? Florida is lucky enough to be surrounded by it - do you want to be near it? Is activity more your thing? Florida is the golf capital of the world. Would you like a home that benefits from having a championship golf course as its’ backyard?
Another thing to think about is your family needs when it comes to accommodation. If you are parents with children, a single-family home with a pool would probably be your preferred choice. However if you are retired a 2-bedroom condo, which is very easy to maintain, may be the smarter choice.
Once you have decided what kind of home and what sort of experience you want out your purchase, then you need to decide on location. Florida is a big state with lots and lots of very different regions offering totally different types of vacations. By really deliberating on the first two questions asked, the answer to this conundrum should come a little easier.
So you now know what kind of home you want and region you want to look in. Now you need to find a Realtor to help you, as a Buyer, make the right choice and guide you via their local knowledge. How do you do this if you do not live in the area? Personal recommendations are always the best bet. Ask around your friends, family and work colleagues. Florida property purchases have been the hottest personal investment for the past 5 years. You’d be surprised once you start asking how many people knows someone who has taken the plunge and purchase a second home in Florida. If you can, talk to this second home buyer, ask them about their personal experiences. Learn from them.
You can also try doing a bit of research on the Internet. The main website for all licensed Florida Realtors is www.realtor.com Check out the Realtors licensed for the area you are interested in - tap into their local knowledge of the property market and your requirements. Ask them lots of questions to demonstrate their skills - how the market is going in the area, what constitutes a good vacation home, where are the key districts I should be looking at to suit my needs, what can I get for my budget, can I rent the home out, what sort of costs are involved when running a second home, what kind of income can I expect from a vacation home in this area.
Do your homework and use a professional to guide you! Remember, the services of a Realtor buyer’s agent are absolutely free. Choice the right Realtor for you and the process of buying a second home in Florida should be a exciting and enjoyable one.
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