Property

Where Should you Buy?

I find it difficult to differentiate between commercial sense and personal preference when considering location. On the one hand, I want a location where the maximum rental potential can be achieved. On the other hand I wanted somewhere where my family would be happy to come back time and time again. Somewhere which is safe and inviting; above all somewhere away from the gaudy neon!

The negative points I have mentioned above maybe positive attributes to other people; it is a question of personal taste and circumstances. There is a market in both these types of areas.

There are certain developments that have both houses and condos with an infrastructure including a clubhouse, cinema, communal pools etc. A complete holiday village. I have seen the properties, they are fantastic – well designed and furnished, and in a very convenient location for the theme parks. I have also heard that the rental potential is excellent with US holidaymakers.

Despite all these positive features, I have resisted from buying there simply because it isn’t a place that I would want to come back to time and time again. It is not a place where I ‘feel at home’. To me, it is purely commercial with no personal feeling. I am not saying that it would be a bad buy. I am not saying it is not right for you. I am certainly not telling you that you must have a commercial and personal feel when buying. You must consider what is comfortable and right for you.

Wherever you chose to buy, make sure it is no more than a 15-minute drive to the Disney Parks.

I have a definite personal preference here, and that is because it is what I know, and what I am comfortable in recommending. Prior to Westridge, we stayed at developments at Indian Ridge and Lindfields. Both of these are fractionally nearer Disney and the other Parks and the’192’ with the restaurants, shops etc. However we did not feel at home, or safe, or have a sense of belonging. This could have been because it was the first of our visits out there, and we weren’t familiar with the area.

It is also, in my opinion, more up market than most developments out there. It has a good mix of year round residents and tourists. That in it’s self is good from a security point of view. Westridge was one of the first developments in that stretch of HWY 27; since then Hampton Lakes and Highlands Reserve have gone up and I noticed that at least another 3 developments between Westridge and the Interstate 4 are going up, as well as a Walgreen’s store.

The infrastructure for that part of Central Florida is now coming together, which in my opinion enhances the value of the area. There are other good developments I am sure, but I can only sing the praises of Westridge at this time! Unfortunately, the final phase is nearly complete and sold (The Manors South) however, in addition to the few remaining new houses, there are some fine resales to be had.

‘Complete Developments’ seem to be in vogue at the moment. These are those where the buying, marketing and management of the property is done by a central service. The central service, usually being a management company, will have in-house Real Estate Broking expertise and will be able to recommend a Mortgage Broker as well as offer advice on location and furnishings etc. See my separate spiel on what we should expect from a Management Company. Because of their concentration of expertise on the development, they should also be more able to efficiently market the properties under their management. Ideally their management team, accounts, administration and maintenance would be located on the site.

I like the concept of this method of purchasing and running a Florida Property. It has a good personal and commercial feel. This way of owning I think is ideal, certainly for the first time buyer, as it takes away some of the headaches of ownership just by providing one central point of contact. If all goes as envisaged, this may well be how many future sales of investment properties are handled in the future. The Management Company we use and recommend are one of the pioneers in this field of ownership. Drop me a line or give me a call if you would like further information. Contact me