location, location, location - which is best????

[confused 1st timer]

Hello.
About to book our Orlando holiday for Dec 2014 (eek - excited!!!). [8D]

We want to stay in a villa but are confused by which locations would be good for us.
We are a family group (grandparents, me+hubby, 2 kids age 8&10). We'd like to be within 30 mins drive of the action, but want somewhere that has local community facilities (kids playground, supermarket, space to have a kick about, local restuarants etc). Can anyone reccomend a locality for me to search for villas in?

Thanks
[cheers]

[Philomena]

Welcome to the forum - it is a very good place to start your planning.

All of us owners will tell you that the community they own on is the best! Ours is on a golf course, has lots of on site facilities, has a huge Walmart just outside the entrance gates and within walking distance of lots of good restaurants - but you will find these sorts of facilities on lots of community.

Best thing to do is make a wish list and then put out an enquiry on the two websites and see what you get back.

Good luck with the decision - and ask any questions you want to on the Forum. We will all be only too happy to give you our own take on the information!!

[SDJ]

Welcome to this forum which has all the info you will need.

Do as Philomena suggests as we are all biased owners who think our Community is the best!!![:I] Have good fun searching.

[Sandra M]

Hi and welcome to the forum.

How exciting for you and you'll get to see all the Christmas themes.

Most communities you will need to drive to get to shops and restaurants, Florida isn't a walking kind of place ;) You can't really imagine how big it is until you are there.

Philomena has given you good advice and if you book a villa through one of us owners on the forum you can rest assured it will be as it shows, we are asked to verify our ownership which gives guests some added reassurance.

Enjoy choosing

[Jill]

Can I just add that if you do have specific requests eg playground, supermarket etc you note them in the comments section which helps owners in their replies to you.

[dawn]

Hi there and welcome to the forum. To give you an idea of locations have a look at this map http://www.orlandovillas.com/map.aspx
Dawn

[confused 1st timer]

Thanks all. Some good tips. Compiling my wish list as we speak (type?)
[:D]

[Geordieg]

Hi everyone,

I have just joined up also and would Love some advice. I will be visiting orlando for the first time next year( mid June) and need to know lots of info. I think renting a villa for 4 people is going to be our best option. By looking at villas on various websites over the last 2 weeks some of them look fabulous. When I saw the purchase prices on one of the estate agents sites it surprised me. If I wanted to buy a 3/4 bed villa what are the steps I need to take and how much are the running costs each year approximately. I know they would vary but I just wanted some ballpark figures because I would love the idea of having a retirement fund. I know everyone has their opinions but how long realistically does it take to pay off your purchase price and can I remortgage my home in the uk and take advantage of the really low interest rates?

Any help would be greatly aprreciated. GGGG

[steph_goodrum]

Hi everyone,

I have just joined up also and would Love some advice. I will be visiting orlando for the first time next year( mid June) and need to know lots of info. I think renting a villa for 4 people is going to be our best option. By looking at villas on various websites over the last 2 weeks some of them look fabulous. When I saw the purchase prices on one of the estate agents sites it surprised me. If I wanted to buy a 3/4 bed villa what are the steps I need to take and how much are the running costs each year approximately. I know they would vary but I just wanted some ballpark figures because I would love the idea of having a retirement fund. I know everyone has their opinions but how long realistically does it take to pay off your purchase price and can I remortgage my home in the uk and take advantage of the really low interest rates?

Any help would be greatly aprreciated. GGGG

Welcome to the forums and look forward to your holiday. Firstly I would say don't even think of buying till you at least visited and decided if you like the place. Secondly imo I would NEVER EVER remortgage my primary residence for a holiday home. If it all goes wrong (and it has for many owners) then you could be out on the streets. How quickly you could pay off your mortgage (bearing in mind how expensive the ongoing costs are when you are renting it out - together with repairs etc.) depends on how successful you are at marketing, attracting customers, and many many other factors. sorry if this sounds a bit negative but the purchase price is only the beginning.

[SteveandJan]

Hi and welcome. I agree with Sandra that it is such a big place and restaurants are within easy driving distance, where you will have great choice. Enjoy choosing your villa. Make a list of what is important to you.

Also as Steph has said above about buying, we purchased in 2003 and it has been one big learning curve. The costs to run are never ending and you need to be realistic about rates you charge for contingency long term repairs of big items and those ongoing monthly repairs to anything from taps to pool screen. Don't get me wrong we don't regret it but it isn't easy and there is never guaranteed income.

Hope you both have great holidays.

[SDJ]

Don't expect a retirement fund from buying a property in Florida. If you have spare money, then buy an investment property in UK where you will have a far larger return and no where near the huge amount it would cost you to sell in UK than the almost 9% (including realtor commission and title Company payments).

Think very very carefully. Do you have time to sit at your computer most of the time resounding to bookings, because if you don't, then you really need to think again. It is not easy getting rentals.

Of course, there are benefits, you can holiday whoever you want in your villa….but….most of the holiday will be spent at Home Depot (similar to B&Q) and repairing and upgrading the villa constantly.

Do some serious investigation and don't buy with rose tinted glasses.

Enjoy your visit to Florida and take it all in but don't get carried away.

[Gerry Reed]

I think, if you are being realistic. for most owners, the income from rentals covers the running costs and helps toward the mortgage payments but few owners will get sufficient income to cover all expenses, taxes, maintenance and all the mortgage payments - of course it does depend on the size of your mortgage.

Sue

[steph_goodrum]

I think, if you are being realistic. for most owners, the income from rentals covers the running costs and helps toward the mortgage payments but few owners will get sufficient income to cover all expenses, taxes, maintenance and all the mortgage payments - of course it does depend on the size of your mortgage.

Sue
Even if you have no mortgage you also have to consider whether the same amount of money invested would generate a bigger fund in your pension pot, especially with the news that you can take it as a lump sum (albeit paying tax on 75% of it) Youo may find you get a bigger lump sum like that. When we bought we did consider that if all goes well and we were to sell after paying off the mortgage we would have a lump sum to supplement pension as being self employed dont get the same benefit of employers contributions bumping up the fund.