- Team Donovan

8 Mistakes Vacation Home Buyers Make and How to Avoid Them

Are you thinking about buying a second home in Orlando? Investing in real estate can be both exciting and overwhelming. If you choose to rent your property out to holiday guests, that decision adds an element of stress too. 

The good news is that the vacation rental market has grown over the past few years, and the prospects for generating rental income have never been better. More and more vacationers are forgoing the traditional hotel stay in favor of renting luxury vacation homes. 

Here are a few common mistakes to be aware of so you can minimize your risk while maximizing your profits for your Orlando vacation home.

1. Not Sticking to a Plan and Budget – It’s important to do your homework before you make any offer on a property. Research the…

What You Need to Know to Buy a Holiday Home in Orlando – Part 1

Many people who travel to Orlando, Florida from outside the U.S., such as Canada or the U.K., enjoy their holidays so much, they decide to buy a second home here. If you want to make Central Florida your “home away from home,” there are some important points you need to know before you buy.  

1. Decide How to Pay for the Property - Many foreign buyers wind up purchasing a holiday home with cash, since financing can be difficult to obtain. If you plan to finance your purchase with a U.S. bank, expect that a minimum down payment of 30 percent will be required. A U.S. mortgage also generally requires far more paperwork than loans secured in other countries. Another advantage of raising finance outside the U.S. is that your holiday home purchase in…

5 Important Questions You Need to Ask When Buying a 2nd Home

Buying a second home in Orlando for retirement or as a family vacation home requires serious thought. Choosing where to buy in Central Florida depends largely on what you can afford and whether or not you plan to rent out the property when you’re not using it. Here are a few core questions you need to ask before purchasing a home: 

How much will it cost?

When you buy a vacation home, there are additional costs to consider besides the sales price. You will have to factor the same costs you have with your primary residence such as taxes, insurance, utilities and maintenance fees. Plus, when you’re not living in a home on a daily basis, you may not have the ability to tackle small problems before they become big ones. That can translate into higher…

How to Know if a Vacation Home or Condo is Best for You

If Central Florida keeps luring you back every year for holiday, you may be thinking now is a good time to put down roots and buy a second home in Orlando. Buying a condo or single family home can be an excellent investment, especially if you acquire a property in an area that’s zoned for short-term rental. This will allow you to rent out your home to vacationers while you’re away, gaining some cash flow in the process

Once you’ve decided to buy a home, the next question you’ll have to ask yourself is what type of vacation home? Should you buy a condo or single family dwelling? That depends on you and your preferences. There are pros and cons for each. Here are some points to consider that should help you make a decision.  

Orlando Condo Advantages:

Why a Short Sale May be Right for You

Home buyers who search for vacation homes in Orlando may occasionally come across a property that is listed as a short sale. This type of property may turn out to be a good investment. But it’s important that you understand what the short sale process involves, and whether it makes financial sense for you.

What is a Short Sale?

A homeowner who is struggling to make mortgage payments may decide to use a short sale as a way to avoid foreclosure. The homeowner sells the house for less than the amount owed on the mortgage. And as a result, the lender doesn’t get all of its money back. This usually happens when a home’s value falls, and only occurs with the lender’s permission.

The bank does not own the property in a short sale. But it must approve the…

Why You Need Expert Help to Buy a Second Home

Thinking about buying a second home in Orlando? You’re not alone. People buy a second home in Central Florida for a variety of reasons. Some buy a home as an investment, and rent it out as a vacation property. Others buy a second home prior to retirement, with the goal of living there once they finish working full-time.

Whatever your reasons for wanting to buy a second home, it’s worth the investment to hire a real estate agent to help you locate and purchase a property. Here are a few reasons why:

Fiduciary responsibility. When you hire a real estate agent, that person will look out for your best financial interests. This is especially important when you’re buying a second home. As with your primary residence, there are a lot of costs that go into…

Top 10 Things to do at the Windsor Hills Resort

Windsor Hills is a popular vacation resort community, located less than 2 miles from Walt Disney World. Many people decide to buy second homes in this Kissimmee gated community because of the amazing amenities it provides, worthy of a 5-star resort. To give you an example, here are ten things you can do during your Orlando, Florida vacation at Windsor Hills.

1. Enjoy a relaxing day in the community’s luxurious lagoon-style heated pool – swimming, sliding down an 80-foot water slide, or soaking your tired muscles in a steaming hot tub.

2. Gather your family together to play a game of beach volleyball on the sand court.  

3. Dunk some hoops on the basketball court, or play a round of tennis.

4. Rain threatening to derail your theme park plans? No…

10 Best Ways to Celebrate the Holidays in Orlando

The holidays are a magical time to spend your vacation in Orlando. There are a variety of special events that your whole family can enjoy. And the cooler weather makes it especially nice to spend time outdoors. Here are ten ways to celebrate the season during your holiday stay. 

Light Up UCF – The University of Central Florida hosts this annual holiday event outside the CFE Arena. Light Up UCF features an 8,000 square foot outdoor ice skating rink, rides, including a Ferris wheel and train, and special holiday attractions – such as the Arctic Glide Ice Slide, Santa’s Workshop, and holiday films shown on a giant two-story screen. Capping it all off is a holiday light show that features thousands of lights choreographed to seasonal musical sections and…

Community Profile: Bahama Bay Resort

Have you ever thought about buying a second home in Orlando? Owning a vacation home in a community like Bahama Bay allows frequent travelers to Central Florida to enjoy the lavish amenities of a four-star resort, while enjoying all the comforts of home.

Bahama Bay Resort is just a short 10 minute drive from the Disney theme parks and attractions, but you’ll feel like it’s a world away. Tucked inside a quiet area along Lake Davenport, this 70 acre tropical paradise is the perfect home base for a family vacation or couple’s getaway.

Residents enjoy all the amenities of a full-service resort including: 

• Onsite grocery store
• Fitness center
• Tennis courts
• Fishing dock
• Heated pools
• Hot tubs
• Children’s splash area
• Restaurant and pub
• …

Top 5 Things to Do in Orlando this Fall

Did you miss taking a summer vacation this year? Not to worry. There are plenty of things to do in Orlando this fall. As an added bonus – the temperatures are milder, so it’s a great time to head to the area theme parks. Here are a few of the special events going on to help you plan your trip: 

1. Epcot International Food & Wine Festival – This annual event celebrates the diversity of food and wine. Attendees can sample tasty offerings from celebrity chefs, watch live cooking demonstrations and listen to great music. Admission to Epcot is required for entry into the festival. 

2. Brick or Treat at LEGOLand – Your little ones will get a treat out of these Halloween themed events including a LEGO Scary Scavenger Hunt in Miniland, Super brick build…