Jerry Barker Discusses
“Finding the right Vacation Home”
Like Every Property, Every Buyer is Unique.
The answer to finding the right Orlando Disney vacation property is understanding your individual needs and goals. Then, put that together with properties that fit those needs to ensure you are presented with the best possible information so you can make the right choices and ultimately the right decision.
To make that decision, several points of important criteria have to be established.
Budget
Give your Vacation Home Specialist an accurate assessment of your budget. It sounds simple enough, but some buyers will “hold back”.
What this can lead to is being shown inferior property. It’s better to let the experts show you what your real buying power can achieve rather than wasting time that leads to disappointment.
With prices compressed, a very small difference in a budget can open up many more potential properties that otherwise may not have been presented.
You also want to make it clear if the budget includes closing costs and expenses like furnishings.
To get the most guidance from your Vacation Home Specialist, be candid and trust them with your financial position. If you don’t trust them enough to do that – then find one you do.
Financing
You should know how you intend to pay for the property.
If you can pay cash, you should. You will save a great deal of money over financing. This will also put you in a much stronger position to offer and negotiate the lowest price.
If you are a foreign investor, finance or draw equity from your home country so you can pay cash in the USA. “Foreign national financing” is possible in the USA and should not be discounted.
Ask your Vacation Home Specialist how to approach financing.
Use of Your Property
You should have a reasonably good idea of if and how you intend to use the property personally.
Personal use is a very important dynamic in finding the right property, especially if your needs are specific – like travelling with older relatives, disabled or special needs.
You may also consider a range of amenities for your entire family. For example, if you have a young family or particular interests, you may prioritize a golf course or access to fishing, nature walks, or biking.
A vacation home is a balance between a business investment and a personal lifestyle enhancement, and your use is a big part of that dynamic. Vacation home rental should include your personal preferences too.
Time Frame
Are you ready to move if the property of your vacation dreams is presented to you today? Do you have a specific date or time frame you need to work towards?
Planning a search strategy to fit a specific date – perhaps a scheduled visit to Orlando so you can make it easier to arrange viewings. Pencil in about 4 weeks for a cash purchase, 8 weeks for financing.
New homes can take up to a year but plan on about 3-5 months on production homes and 5-8 on custom homes.
Financial Goals for Your Vacation Home
You should also make a decision on what is most important to your financial goals. Are long-term or short-term returns more important to you? Are you focused on something in between?
Some resorts and properties have great short-term income potential but a slower long-term appreciation outlook. Others are the opposite, and some are good all around. A few are ideal in all phases and those that are usually come with a higher price tag.
Getting The Best Result
It is my experience that the buyers I work with who clearly and accurately present their needs and goals with accurate financial capabilities and expediencies are those who are the most successful in meeting their vacation home objectives.
A good Vacation Home Specialist should not try to sell you a property. Instead, a good Vacation Home Specialist will help you find the property that fits your goals and is going to help you buy it.
You’ll want to take time to compare vacation home properties in all of the great resorts WE FEATURE.
The right Vacation Home Specialist will ensure that you find the perfect vacation rental for your financial goals and future vacations.
Be candid with your representation, and your success ratio for finding the ideal vacation home will improve dramatically.
Contact us anytime to get started!