Kissimmee, FL (PRWEB) November 30, 2005
As the weather turns from the soft tones of fall to the harsh cold reality of winter, many people in the North and Northeast start dreaming of that vacation home in Orlando Florida. We have all dreamt of retiring to a more temperate area, or of owning that vacation home that the whole family can enjoy, from the golf enthusiasts to the kids (or kids at heart), but the financial burden of a vacation home can be to much for most of us, so we continue to dream, not realizing that thousand of people own vacation homes in Kissimmee and Orlando, Florida that cost them less than a car payment.
With 55 million tourists a year visiting Orlando Florida a booming vacation rental market has spurred huge growth in housing in the Disney™ area, and with rental guarantee programs funded by large British tour operators, many people have found that by renting their home out when they are not enjoying it can help offset or some cases completely wipe out vacation home running costs and mortgage.
Typically 3 separate variables affect your ability to offset you vacation home costs according to Denis Neal of Orlando Homes Worldwide, http://www.OrlandoVacationRealEstate.com .
1. Location, location, location. Just because your Orlando vacation home is in sunny Florida doesn’t mean the basic rule of Real Estate doesn’t apply. Proximity to Disney™ is king, and although there are some great deals on those properties 35 or 40 minutes away from the Orlando attractions, the decreased rental revenue will make that “affordable” vacation home more expensive to run.
2. Amenities=return guests. Imagine you are booking your vacation rental home for your family online, and you come across two identical homes, one in a gated resort community such as Emerald Island or Terre Verde with a clubhouse, games room, sauna, gym, 24 hr security etc. and the other home has none of these. Which vacation home will you pick to rent? Would you pay $15 extra per night for the heavily amenitized property? Most would, and since the more attractive the vacation home is to the vacationer, the more money in your pocket, spend the extra money on a second home in a “Resort community”. If you are buying an existing second home, find one with a nice furniture package, or spend the money on upgrading the furnishings to a higher standard. For more information on Resort communities visit http://mbthomes.com/Resort_homes.htm
3. Find a Realtor® who specializes in vacation and investment Real Estate that can help you find the property and Management Company that fits your budget. There are literally thousands of property management companies and real estate licensees in Orlando, but only a few specialize in vacation homes near Disney. Marcus Truett of http://www.mbthomes.com recommends asking your Realtor® who he or she uses for property management. “If your Realtor® cannot recommend a vacation home management company they are probably not a second home specialist, and as such cannot represent you as well as a Realtor who only sells short term rental properties.”
At the time of this printing, vacation home rental guarantees of $2,200 per month for a 4 bedroom “executive” single family home were available. These 4 bedroom vacation homes in “Resort” communities range from the mid $300,000’s, with townhomes starting in the mid $200,000’s.