If you are thinking about buying a vacation home in Orlando Florida here are the things you need to consider. LOCATION, LOCATION, LOCATION. Too many who have contemplated an investment in real estate this is a well-known phrase.
1. Location; Walt Disney World is the primary destination for vacationer’s visiting Orlando Florida. In fact fifty-five million (55,000,000) people visit Walt Disney World in Orlando Florida, annually.
2. Location; Security is a concern to many vacationer’s renting homes. The question; is the community gated and are guards on duty twenty four hours a day, seven days a week, three hundred sixty five days a year (24/7/365)?
3. Location; Better resort communities provide a great number of amenities such as large clubhouse facilities with an outdoor swimming pool, water slide, life guards on duty, well equipped and spacious exercise room, game room with a variety of activities and machines, card room, public room, internet lounge, movie theater, convenience store, bar, grill and restaurant.
Florida Licensed Realtors who sell Orlando vacation homes in whole ownership resort communities have established an informal A,B,C rating system of the resort communities:
A. Resorts; Communities with all three of the location criteria (closest to Walt Disney World, gated with guards on duty 24/7/365 and have many if not all of the amenities listed above).
B. Resorts; Communities with two of the three location criteria stated above.
C. Resorts; Communities with only one of the above location criteria.
This article only contemplates whole ownership
There are many resort communities in greater Orlando offering whole ownership as well as time share. We need to make a fundamental distinction here. Whole ownership means 100% ownership by a couple or individual whereas Time Share is sold to multiple individuals on a fractional basis using points or weeks. This article only contemplates whole ownership.
Single Family Detached Homes Townhomes and Condominium
Many Orlando vacation home resort communities offer a variety of home styles. The most popular are single family detached homes with a private pool, townhomes with a splash pool and condominium (condos) in low and mid-rise buildings. Townhomes and condos have at least one common wall. Florida law prescribes single family homes and townhomes to be deeded and titled to a couple or individual. The deed is termed fee simple (Freehold in some countries). Condominium buildings and common facilities such as hallways, heating system, elevators, and exterior areas are owned and controlled by the association of owners that jointly represent more than fifty percent (50%) ownership. Essentially, the couple or individual owns the inside walls of the condo apartment.
Please visit www.vacationhomes-orlandofl for additional tips about vacation home ownership. In the meantime good luck and good house hunting.