What UK Investors Need to Know About Buying an Orlando Vacation Home

A growing number of UK investors are investing in Central Florida vacation homes. The area offers beautiful weather, world-class theme parks, golfing, recreation, and other features that have made it a popular destination for visitors from around the globe.

Investing in Orlando vacation homes lets UK investors take advantage of low property prices and earn additional income through property rentals. 

Why Invest in Orlando 

Choosing the right location is essential to investing in a vacation home. Orlando has all of the characteristics of an ideal investment location. 

Orlando’s population continues to grow and has strengthened the local economy. The area near Disney offers beautiful neighborhoods that allow short-term rentals, so you can recoup your investment by renting out your property when you’re not using it. Plus, there is plenty of shopping, dining and fun to be had for your family and your rental guests. 

More importantly, real estate prices in Florida are lower when compared to those in the UK. Like other parts of the US, Florida is still coming out of the recent global economic downturn. 

This makes it the perfect time to invest in the vacation homes that are sure to see an appreciation in value over time. 

What to Consider Before Investing in Orlando Vacation Homes 

When it comes to getting the most out of your investment, there are some key things that you should know. 

Financing your investment can be a complex process if you don’t know what to look for. Foreign investors can run into obstacles when trying to finance investments in the US. 

Minimum loan requirements and other restrictions need to be considered early in the process. 

Transferring funds through foreign exchange accounts and fluctuating exchange rates can present issues for UK investors. Also, opening a required US bank account isn’t as easy as it once was due to changes made in accordance with the US Patriot Act. 

Transfer fees can be high, and they should be calculated in with your other costs to ensure that you maximize your return and minimize expenses. 

Hiring a certified public accountant (CPA) and an attorney helps you address issues related to tax filings and obtain protection through incorporation and other strategies. You’ll obtain tax benefits while protecting your own personal assets. 

Best Practices for UK Investors Buying Orlando Vacation Homes 

New investors should take the time to develop a basic understanding of property investment in the US. Choosing the right professionals to help you gives you the resources you need to choose and manage your investment property. 

Create a budget and compare the benefits of the different options that are available to you. 

Selecting a real estate agent, financial institution, and management company prevents unwanted issues while helping you navigate the complex processes involved in a foreign investment. If you plan to rent out your property on a short-term basis, read this article to avoid making costly mistakes: 

5 Mistakes Vacation Rental Owners Make and How to Avoid Them 

Buying an Orlando vacation home can provide you with all of the benefits of foreign investment. Entering the US real estate market lets you take advantage of low property prices in one of the most popular destinations in the country. 

If you’d like to learn more about how you can invest in Orlando vacation homes, contact Team Donovan at 407-705-2616 for more information.

 

 

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