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 Orlando Villa Purchase - Some Important Advide


 

Before making an Orlando villa purchase there are a number of things you should know about and some things you should do. Below we have detailed some of these considerations.

 

The DIY (Do It Yourself) Approach
For those making an Orlando villa purchase, on our home page we touched upon companies that specialise in helping people do this, particularly those from overseas as they do not know or understand the property purchase process in the USA. When looking to make an Orlando villa purchase, the lure of a cheap inspection trip may be hard to refuse, but consider this. You are making a very large capital purchase here. Just because it is a second home and it is overseas, it demands the same care and prudence as when you bought your UK home so the need to buy a home that meets your stipulations and requirements is of no less importance. If you are buying the home as a rental business then you have to put market demands and requirements ahead of personal choice! So, what is more important? Spending between £600 and £1000 doing it yourself and getting what you want or being  swayed and influenced by the 'heat of the moment' by an experienced salesman with some very persuasive sales patter? You will more than likely end up purchasing something that didn't quite 'fit the bill'? Many folk's last words were "we won't let that happen to us". If you're prepared to be more independent, be responsible for your own plans and time schedules (i.e. not having to adhere to the itinerary, and compact schedule determined by the property company) and not worry that if you don't buy somewhere i.e. all you have done is pay for your own holiday, then the service we will provide is probably the one for you.  If all you are looking for is a cheap or free holiday, then don't come to us as we cannot help!

Before any inspection trip, set your objectives and just as importantly, your budget. Your business plan and cash flow forecast, if it is a rental home that you are buying, will be based upon these so stick to your plan.  The only exception to this would be if you discovered that the market differed from your proposed strategy and you therefore needed to adapt both your marketing strategy and business plan. Changes to your plan should be business driven and not heart driven! 

Once a property company has sold you the concept, the chances are they will probably only take you to the more lucrative developments, i.e. those that pay the largest buyer-introduction commissions irrespective whether these homes meet the criteria you have stipulated. Their view.... 'your stipulations are only part of a 'wish' list' and they know from their experience and salesmanship that with the lure of a beautiful holiday home you can easily be influenced! They will guide you through the buying process, probably through their own specialist staff, to commit you to the purchase and thus secure their commission. And once you have committed to purchasing there is no going back - well not without financial loss anyway. If you need to rent out your property to finance its purchase, whether you succeed or fail at this is not of concern to them - once you have bought your villa they will have made their money (from the buyer-introduction commission) and you will be left on your own to get on with it.

Set Your Budget
Having decided that you wish to proceed with an Orlando villa purchase, determine how much you can borrow and how much you are going to spend on your home (see too our Inspection Trips page). Having done your financial analysis and calculated your budget - stick to it! Do not be swayed by the luxury of the homes that you will see unless justified as determined above.

Having also done your research, you should already have a pretty good idea as to the cost of an Orlando villa purchase i.e. for the various size of homes. Your financial analysis and purchase plan should have determined the size of home you want, can afford or meets your business and marketing objectives. When on your inspection trip, do not deviate from these plans or the budget unless there is no other choice and you are completely satisfied that the changes will not have an adverse effect on your objectives and your costings and cashflow. 

It's Safer To Be Over Cautious
Don't underestimate your expenditure and don't be persuaded otherwise.
Following another owner's Orlando villa purchase, he made an interesting comment on our local community forum, which is of particular relevance (and this remark is not uncommon!). It read: 
 

 

"I now have 12 months of bills that I can analyse.  The main thing that has hit me is that the general running costs are a lot higher than I had expected (or had been told to expect by the sales people)." 

 
 
                 
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