You’ve done it, you’ve made the decision to buy a vacation home, you’ve chosen the city you want and maybe even hired a Realtor to represent you. Now what? There are many articles explaining how to buy a vacation home, but today we’ll guide you through what it will take to go through the process when it comes to your side of the transaction. The next steps in your journey can involve a few scenarios:
- Will you be visiting Orlando to personally see what you are purchasing?
- Where will you be staying and how will you get around?
- Will you hire a realtor to handle your transaction for you?
- How involved do you plan on being in the entire process?
- Will you be renting out the home while it’s not in use?
- Will you hire a management company to take care of everything?
- Watch Our Short Video Tip: Closing From Afar
Depending on where you are coming from, cost of your travel will vary. For a family of 3, coming to Orlando from England, expect to pay $2500-3500 for your round trip airfare. Are you our Canadian neighbors? Expect your airfare to run you $1-2000 round trip. New York, expect $800-1500. If you’re the adventurous type, then pack everyone into the car, and enjoy a long road trip!
Choosing to stay in a hotel or a Disney area vacation home is an important decision to make. You’re already interested in purchasing a vacation home near Disney, and the bestway to utilize the most out of your trip, is to stay in a particular home that you may like to purchase. While this is not necessary, and you might not be too excited about that particular home you’re staying in, it will allow you to get a general feel of the type of vacation home you want as well as the area you would plan on purchasing in. As an informed consumer, you know that an Orlando vacation home will always be a better value all around than staying in a hotel, which of course is why you’ve made the decision to purchase one in the first place. Depending on the type of home you choose to stay in, and the time of year you fly in ( holidays will always be more expensive, as well as being less convenient to view homes and get more time out of your realtor), you can expect to pay $75-200 a night, with weeklong stays always averaging less per night. Hotel stays will range $100-300 a night, but will not afford you the privacy, convenience, space, that renting a home will. It is recommended to stay at least 3-4 days, to give you enough time to see as many potential homes as possible, but many people choose to book their stays for a week, and take their time.
Generally assume about $35 to $50 dollars a day. But it all depends on the length of the trip, what type of car you rent and where you plan on driving to. Holidays will normally be the most expensive with weekends coming in more expensive then weekdays. Cities will always run you more to rent a car.
All Said and Done
If you hire an informed and experienced vacation home Realtor to represent you, everything is planned out in advance and all homes are scheduled for viewing while here, you should not have to make more than one trip. All closings are done remotely, so all you will need is access to a printer, email and scanner and/or fax, as well as a notary. It is still your choice on whether you want to a part of furnishing or decorating the house, but your best bet is to go with a management company that has more experience, as well as time, to do everything properly. They will make your home ready for you, and anyone that will be renting out, if you plan on going that route.
You’ve done it! You came, you sought, and you conquered. You are a proud owner of a vacation home, and have joined the ranks of many to call Orlando their second home!
We hope to earn the opportunity of helping you achieve your investment property goals this year in 2012. For a free, no obligation investment property consultation with our Director of Sales- Lisa Arcia, please contact us directly at 866-422-6191 and if you have enjoyed this article please consider subscribing to our blog and stay updated on future information.