Investing in a Vacation Home? Here are 4 Tips
Make Your Investment Worthwhile
Planning on investing in a vacation home in the near future? As your Luxury Orlando Real Estate team, we know this can be an overwhelming process. With our numerous years of experience handling realty in Orlando, we have a few tips up our sleeves to make your Reunion vacation homes for sale purchase a smoother process.
1. What Can You Afford?
Figuring out what you can afford is the very first step you need to take when deciding to purchase a vacation home in Orlando. Lucky for you, it’s pretty easy to figure out what your price range is. There are plenty of mortgage calculator websites to help you figure out your spending budget. Just enter the amount you make and what bills you owe, and the calculator will calculate how much you can afford. Even if you plan on renting your vacation home for extra income, we recommend that you don’t count on that income to assist with paying for the house.
2. Take a Look at The Total Costs
After figuring out what you can afford, it’s beneficial to take a look at what the total costs for running your vacation home will be, such as insurance, taxes, utilities, and maintenance. If you live more than an hour or so away from your Reunion vacation home for sale, you will also have to factor in the costs of a property manager or caretaker.
3. Pick a House That Appeals to Renters
If your main goal with a vacation home for sale in Reunion is to attract renters, make sure to pick a home that not only appeals to you, but also appeals to your renters. Orlando is the perfection vacation destination, making your Reunion vacation home a prime spot for renters. Renters want a home that is in the middle of all the action, where they don’t need to travel far to have fun. Reunion Resort is minutes away from all of Orlando’s theme parks, and only an hour away from the nearest beach.
4. Make Sure Your Vacation Home Is Somewhere You Enjoy
In addition to picking an area renters will love, it’s important to pick an area that you enjoy as well. A vacation home will be worth the cost if you spend as much time there as you can. This may be a home that you keep in the family for generations, a home that will create memories.
To start searching for the property of your dreams in Reunion Resort, FL, call us today at 407-705-7635 or submit our contact request form.