A common problem that I often run into with clients and often even sales people at new home communities is that they just don't understand the short term rental business but want to buy a second home. This is so important in our area because 70% of our buyers right now are Foreign Nationals and their main objective is to purchase a property and place it under short term rental management while they are not using it.
I just got done speaking with a sales rep from one of the new homes communities here in Davenport. He was giving me some of his marketing materials for me to pass on to my clients and was explaining to me about how his community is such a wonderful place for my Foreign National clients to buy in. When I asked him if the lots were large enough for pools he told me that only some of them were but you could not put a pool in all of the models. That is a huge problem because 90% of the short term management companies up here won't take on homes without pools and the ones that do can't really rent them. The last thing you want to do is spend $100,000 or more on a second home and not be able to rent it out to offset your expense.
To any prospective buyers out there who are considering purchasing a second home in Florida. I recommend you work with a Realtor who specializes in vacation homes so they can help guide you away from these potential problems. The sales people at the new home communities are great but most of them are not aware of the key factors that contribute to a sound second home investment. Have your Realtor escort you to all of these communities that you are browsing. The service is free and could save you thousands in the long run.
Erica Muller
International Licensed Estate Agent
Right Moves Realty. LLC
561-723-4265
Erica@MySunnyHolidayVilla.com
www.MySunnyHolidayVilla.com
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