Dreaming about luxury lifestyle vacation homes in Orlando FL? Wish you could go somewhere just to have fun? Maybe it’s time to discover your vacation home options and let us help you find the home of your dreams. We make buying a vacation home simple, so you can start enjoying a vacation home luxury lifestyle that will rejuvenate you. If you can dream it, we can find it. Call us: 407-539-1053.
Buying a luxury vacation home in Orlando is a smart investment for you to explore. There are many reasons to choose Orlando for your vacation home or investment property and hundreds of vacation homes to choose from.
There are more choices than you can imagine. Condo-Hotels with full concierge services, townhomes with garages, single family homes with pools, estate homes with acreage, equestrian ranches, multi-family investments, and brand new custom homes built to your specifications...all available for you to just pick.
Why choose Orlando for your luxury vacation home?
Orlando is Florida’s largest inland city, making this an ideal hub city for living, visiting, entertaining, touring, shopping, working, playing and also finding beautiful real estate.
Orlando is known as “City Beautiful” in the sunshine state and is located in the very heart of Florida. This is a perfect location for an easy 45 minute drive to the beaches for swimming, fishing, scuba diving, gambling on a Cruise ship, or watching the NASA space launch. You can visit major cities like Tampa, Jacksonville, or Daytona in a leisure two hour drive or you can drive to Miami/South Beach in less than 4 hours.
There are many places to visit to enhance your vacation experiences while relaxing at the end of the day in your luxury vacation home. You can own a private soft place to end your day and call it your home.
Buying a Vacation Home for investment
Orlando Vacation Home investments work very well here because this location is well established and well regulated, with a growing flow of tourists looking for a place to stay.
Orlando is the world’s #1 destination for tourism, thanks to Walt Disney World, Universal Orlando Resort, and SeaWorld Orlando. In addition, there is Magic Kingdom, Epcot, Island of Adventure, Disney’s Hollywood studios, Disney’s Animal Kingdom, Typhoon Lagoon, Blizzard Beach. These venues bring all types of shows with music, humor and excitement...an added pleasure to living a fun vacation lifestyle.
Disney is the draw that attracts 72 million visitors per year and welcomes 1,500 new adult residents each week. Orlando is the fastest growing region of the 30 largest metropolitan centers in the United States. and houses United States largest university; the University of Central Florida. As the visitors figures grow, so does the industries and businesses.
Orlando was voted the best city for many reasons. Here are just a few:
- #1 In the nation for job growth
- #1 Best city for new business
- #1 In the state for real estate appreciation
- #1 Fastest growing metro city in Florida
- #2 Top International Airport
- #1 Best place to retire
- #1 Best city to own investment property
- Top 10 for “American city of the future”
- No state taxes
Most importantly, this region offers an unbeatable quality of life. It provides a rich lifestyle for residents through cultural opportunities, arts, fashion, music, amateur and professional sports, favorable weather and abundant recreational activities. All this will for sure provide you with additional opportunities to maintain a lifestyle of luxury vacation living.
Variety of luxury vacation real estate options for luxury living
Condo-Hotels: Orlando has the third largest condo-hotel market in the world. This is a newer concept in which a condominium building has individual ownership, but is run like a hotel. There is a front desk for guest check in and an assortment of luxury amenities. These features enhance the appeal to potential home buyers as well as future renters. Services typically include valet, concierge, housekeeping, restaurant, resort pools, business center, health and fitness, gift shops, onsite travel services and transportation to the attractions.
The condo-hotel on-site management company operates a rental program where management takes care of the cleaning, upkeep,and interaction with renters. They do all the marketing, and property maintenance. The condo-hotels combine vacation ownership with investment potential. The rental revenue generated is shared between the owner and rental program operator. This helps to defray the owners expenses and removes the headaches.
The benefit is that the owners have a luxurious “hassle free” vacation home in a premier location. The downside is that you might not be able to live there year round. Some condo-hotels limit the amount of time the unit owner can utilize the property, since the main goal is to rent it out.
Regular condo communities for Vacation Ownership
These will not have an on site property manager and have less restrictions. You are able to hire your own property management and use the property for personal use all year round, if you wish. You may also rent it out periodically. The monthly fees will vary depending upon the location, size of your unit and the maintenance of the common areas. The maintenance fees will be less than a condo-hotel and the condo ownership will be a mix of owner occupants, vacation renters, and second home owners.
Town homes are a popular choice as vacation homes around Orlando
Townhomes are typically 2-3 story attached home. They typically share a common wall, but not the ceiling or floors with the neighboring dwelling. A townhome will also have recreational amenities like a pool and clubhouse and more. These townhomes usually range from 1,200 to 2,200 square feet and may come with a garage and a private courtyard or a plunge pool.
Orlando townhome ownership may be like a condo where you own only what is inside your unit or it can have a “fee simple” ownership where you actually own the piece of land that your unit sits on. The townhome grassy area and the recreation facilities are always considered common area that you can use, but you do not own.
Single Family homes offer luxury vacation lifestyles
Single family homes offer the most living space and the largest number of bedrooms. The choice of what style you buy depends upon your needs and your budget.
Who will be utilizing the home? Will this also be a rental? Or will this only be for your personal use? Will you be inviting extended family for a holiday get together?
A single family home can offer more amenities within the home, such as a private pool, theatre room, BBQ, Pool table, Ping-Pong table, Foosball, Card table and more.
Since the property includes both the house and lot, you will be responsible for the upkeep of the property. If the property is in a community, there could be a monthly maintenance fee for the private road, common area,clubhouse, pool or guard at the gate.
There are luxury vacation homes available in gated communities, lakefront communities, golf communities, and estate homes big enough for extended families.
New Construction vacation homes
There are many new construction communities in several counties that are being built specifically as vacation homes and/or vacation rentals. Please ask us 407-539-1053.
Where are these vacation homes located?
It depends. If you are not planning on renting your property short term, then you can buy any home style in all areas. Your lifestyle may not be a good fit with renting out your home, and that is OK. If however, you are planning on renting it out when you are not using, then it is considered a “short term rental”. A short term rental means that you can rent it out by the day, by the week or by the month.
Vacation homes for short term rentals must be in a community zoned for that and this type of rental is not allowed in all communities. The homeowners or condo association must have specific language in their by-laws that allow vacation rentals. Otherwise, the property will fall under an annual rental property...which means that you can only rent it out only one time a year on a 12 month lease or at minimum a 7-month lease.
You can find short term rentals mostly in areas with close proximity to Disney. Certain communities only in Orlando, Davenport, Kissimmee, and South Clermont.
Criteria for renting out your luxury vacation home
- The #1 Feature that vacation guests want is close proximity to Disney. Ideally 10-15 minutes away, but not more than 20-25 minutes from where all the Disney fun is.
- The #2 Feature that vacation guests want is activities at the home during the times that they are not out shopping or visiting the attractions.
This means that your vacation home must have a private pool or at least a community pool. Ideally the pool should be heated to maximize bookings for guests all year round.
Other preferred features is accessibility to tennis courts, a water park, or golf course. Playgrounds and boat docks are also a plus. The more recreation facilities there are within easy reach, the easier it will be to rent. Remember, these guests are here on vacation looking to pack in their time living a luxury lifestyle and having fun.
Luxury vacation homes come in all sizes from 1,000 square feet to more than 5,000 square feet...from 1 bedroom to 8 bedroom homes. Popular are the ensuites where the bedrooms have their own bathroom. The homes must be completely furnished to quality standards, including bedding, towels, and kitchenware. If you own a condo-hotel, the management company will require furnishings to be their choice of high standards.
Selecting a Property Management company
There is no shortage of property management companies, with a mix of some that are very good and some that are only second rate.
Duties of most vacation management companies:
- Market the property for you
- Handle reservations
- Guest inquiries and check-in
- Deal with emergency requests
- Arrange for maintenance and repairs
- Pay bills on your behalf
- Collect rental income
- Provide a monthly expense statement
- They will even furnish the home for you
Typically there is a monthly fee, in addition, to the management company taking a cut off your rental income. The financial compensation will vary from one company to another, so you will need to decide which management company is most appealing.
Interview your vacation property manager: Initially you want to judge them on how quickly they respond to your inquiries and how knowledgeable they are about the business. Ask questions during your interview with them and make sure that they send you a copy of their management agreements. The management agreement will explain their services and fees. If you wish to add or modify the agreement, most property managers will accommodate you.
Start up costs for your vacation rental home: You will have initial start up costs that will cover expenses such as obtaining proper licenses, changing locks, adding lock box for keys, making sure it is fire code ready with working fire extinguishers, smoke alarms and fire exit signs.
The management company will then do a walk-thru of your property to confirm that the property is appealing to a guest visitor. They want to make sure that you have the minimum required furnishings, including towels, dishes, TV and so forth. They may make additional suggestions to make your property more marketable; for example adding a wide screen TV in certain rooms or having wireless access.
Escrow money is required by management in order to pay bills and/or repair items on your behalf. Management will also need to have your Power of Attorney on file, so they can handle your account with the utility companies or other vendors on your behalf.
Most management companies have a website that market directly to the consumer. They also have partner websites in other countries such as Canada and the United Kingdom. In addition, they have relationships with travel agents and tour operators to book rooms. The overnight rate and commission rate to the management company will vary depending on who rents your unit, and what time of year it is. You will receive either a percentage of what the management company receives or a flat rate based on the nightly rate. Nightly rates fluctuate based on high season vs. low season.
Some owners maintain their own website for additional bookings, in order to maximize profitability. This can be done as a stand alone or in conjunction with the property management company bookings.
There are many wonderful options for a vacation home either for personal use or to utilize as a rental to offset expenses. For additional information, to discuss areas, prices and options, please call us at Buyers Broker of Florida 407-539-1053. We would be pleased to answer all your questions about Luxury Lifestyle Vacation Home in Orlando FL.
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