How to Select an Orlando Vacation Home or Condo Part 2

As a second installment to my post last week, I will now address the factors to consider when buying an Orlando Vacation Home to be used for enjoyment and long term stays. 

Use and Enjoyment

For some people their primary goal is simply to purchase an Orlando vacation home or condo to use and enjoy with their friends and family.  Their choices include golf resorts, beach properties, resort properties, etc.  If the primary goal is use and enjoyment, it will open the buyer up to a lot of additional options on properties.  However, some people that are buying for use and entertainment also want rental income to offset some of the ownership expenses.  If this is the case, the buyer needs to make sure they are in a community offering good rental potential.  If you are just buying something for yourself to use, obviously buy what you like! 

Long term properties

If the goal is to use the property for several months at a time or eventually live in it permanently, you are most likely going to want to avoid some properties that are primarily designed towards rental.  This may hurt your income potential with rentals, but will meet your long term objective and open up a lot of options on the purchase side.  If you are not going to utilize the property for longer term stays in the near future, another strategy would be to buy more for investment.  Then, when you are ready to use a property for a longer stay, sell the investment property and purchase a property that matches that particular objective.  The other option is to purchase where you want to be now while prices are low and let us help you obtain a long term tenant to cover some or all of your expenses.