Real Estate Slowdown Not Stopping Sales of Orlando Vacation Homes

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Investors who are hesitant to purchase a second home right now are discovering that renting a vacation home is an attractive option--especially in Orlando.

Orlando, FL (PRWEB) May 8, 2007

According to Sunil Govind, president of the travel Web site Orlandoescape.com, "Investors who are hesitant to purchase a second home right now are discovering that renting a vacation home is an attractive option--especially in Orlando."

On his Web site, Govind lists several reasons why Central Florida visitors enjoy renting vacation properties. "Location is always a big factor," said Govind, "But some of the most important reasons are cost, extra space, and privacy issues." Govind also noted that Orlando is fast becoming a popular destination for family reunions, which makes vacation rentals a practical option for large groups of travelers.

The survey results recently posted on the NAR Web site describe the typical vacation-home buyer as 44 years old, with a median household income of $102,200, who purchased a property that was a median of 215 miles from their primary residence; 42 percent of vacation homes were closer than 100 miles and 32 percent were 500 miles or further.

In listing the reasons for purchasing a vacation home, 79 percent of buyers wanted to use the home for vacation or as a family retreat; 34 percent to diversify investments; 28 percent to use as a primary residence in the future; 25 percent for the tax benefits; 22 percent for use by a family member, friend or relative; 21 percent because they had extra money to spend and 18 percent to rent to others.
Govind believes that "satisfied customers" of rental properties will be more willing to purchase a vacation homes or condos when the real estate market makes its inevitable recovery. "In addition to the obvious perks of enjoying an Orlando vacation in a home away from home, renting a condo or a house gives travelers the opportunity to find out what type of vacation property they might want to purchase in the future," he said.

On his Web site, Orlandoescape Govind lists several reasons why Central Florida visitors enjoy renting vacation properties:

•     Location, location, location--Most of the 20,000 to 25,000 vacation properties in the Orlando area are minutes away from the attractions--such as Walt Disney World, Universal Orlando, and SeaWorld--as well as the I-4 corridor, which is the most direct route to Tampa and the rest of the Gulf Coast.
•     Quality design and construction--Many of the vacation properties available in the Orlando area were built in the last 5 - 10 years, with durable construction that exceeds most building codes.
•     Guaranteed parking--"People who rent vacation homes love the idea of no more parking fees, tips for the valet, or remembering where they parked their car," said Govind.
•     Room to move--Many people choose Orlando as the ideal location for a family reunion, and most vacation home resorts offer properties with three and four bedrooms, and at least two bathrooms.
•     Less expensive than people think--The cost of a stay in a rental property can be less than a week's stay in an upscale hotel, especially if the travelers are splitting the cost with friends and family.
•     All the benefits of a hotel--Many resorts with vacation properties offer recreational activities, party rooms, and swimming pools for their guests, and their onsite staff takes care of all the maintenance.
•     All the comforts of home--"A lot of people like to sleep in late for at least one day of their vacation," said Govind, "They shouldn't have to worry about maids knocking on the door because they forgot to put out the 'Do Not Disturb' sign."
•     Save on restaurant costs--Travelers can shop at nearby supermarkets to get the groceries they need, and utilize their full size kitchen to make inexpensive, healthy meals.
•     Enjoy the Great Outdoors--Single family homes have a real backyard, and some properties even have a backyard pool.
•     Get away from the crowds-- "After a day at the theme parks, people want to avoid the jam-packed hotel lobbies, chain restaurants, and other tourist traps," said Govind, "With a vacation property they can park their car in the driveway, turn the key, open the door and relax. They're already home."

Govind believes that these "satisfied customers" will be more willing to purchase a vacation property when the real estate market makes its inevitable recovery. "In addition to the obvious perks of enjoying an Orlando vacation in a home away from home, renting a condo or a house gives travelers the opportunity to find out what type of vacation property they might want to purchase in the future," he said.

For a list of Orlando Vacation Homes visit Orlandoescape.com

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