Second Home Prices Soar in Central Florida
As more and more people reap the benefits of property investments in the Disney area, we investigate why these properties are showing appreciation of almost 40%. From baby boomers to Disney proximity, read how you might be missing out on the land rush of the century.
(PRWEB) February 16, 2005 -- In 2003 there were more 46 year olds than any other single age cohort. These "baby boomers" are the largest second home demographic in the United States, and with more people becoming disillusioned with other venues of investments, property, and more specifically second homes, are becoming a great way to show impressive returns and enjoy the tax benefits of a second home.
Typically second homes have one inherent downside, the mortgage and running costs. If you rent the property on a long term yearly basis, you cannot use the property yourself, and if the mortgage exceeds the rental rate for the area, then other methods of income will be required to sustain the property while you build equity. In central Florida, Disney World™ executives have projected 55 million vacationers will visit the Orlando area, and this steady stream of people is the secret to many investor’s success. For several years, British visitors have shunned the traditional overpriced hotel rooms for single family pool homes, rented out by reputable management companies on a nightly basis. This “short term” rental market provides the income needed to cover almost, if not all, of the running costs associated with a second home, and also allows the owners to enjoy the property themselves. As more people peruse the internet looking for better deals, this emerging vacation option is gaining market share, and this can benefit both the homeowner and the vacationing family. At http://www.mbthomes.com/services.htm you can find helpful tips and FAQ for anyone interested in property management.
Now we have found the method of maintaining the property while building equity, what returns can we expect. Although no-one can predict the future, according to previous years, the equity growth is superb. Several communities on US 192 have shown an increase of 39% in two years, which if the home owner had put 10% down would have realized a “cash on cash” profit of 390%, considerably more than the 2%-3% realized from CD’s or other typical methods of investment. These single family pool homes show the best appreciation when purchased at preconstruction, for more information please visit http://www.mbthomes.com/ .
Since 1991 we have bought and sold properties in the Disney™ area, and with our eperiance we know that we can assist you in finding the second home of your dreams. Please visit our second home website at http://www.mbthomes.com/
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