Orlando Sun How easy is it to purchase a home in Florida?

Orlando Sun If I purchase a property in Florida, how many weeks do I need to rent out my home to cover all the running costs?

Orlando Sun Can I get a mortgage in Florida?

Orlando Sun What are the closing costs and how much are they?

Orlando Sun How will I know the properties I view are the best for my personal requirements?

Orlando Sun How can I be sure that any decision I make is in my best interest?

Orlando Sun Are there rental restrictions in Orlando, if so what are they?

Orlando Sun What deposit would I need to reserve a property?

Orlando Sun Are there any hidden costs that I should be aware of?

Orlando Sun Do I need to open an American bank account in Florida?

Orlando Sun How do I know which management company to choose?

Orlando Sun To what standard should I furnish my home?

Orlando Sun What are the tax implications of owning a property in Florida?

Orlando Sun Am I covered by insurance in the event of damage to my property?

Orlando Sun Are there any restrictions as to the time I can spend in Florida?

Orlando Sun If I would like to book an inspection trip with your company, what would it involve in time and notice?

Orlando Sun I have flights and car hire, can you arrange accommodation for us for our inspection trip?

 

How easy is it to purchase a home in Florida?

Purchasing a home in Florida is less complicated than you think. The most important factor is to ensure that you use the service of a fully licensed real estate broker. Our Florida office is fully licensed by the State of Florida and will oversee the complete procedure, from the minute that you set foot in Orlando to when you complete your property and beyond. This would include showing you properties suitable to your personal requirements, dealing with the legal aspects of purchasing, looking over construction, taking photographs, liaison with the mortgage broker, doing the pre closing walk through, arranging delivery of furnishings, connection of all services and finally arranging the final occupation licenses.

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If I purchase a property in Florida, how many weeks do I need to rent out my home to cover all the running costs?

This will of course depend on the type of property, location and amount of mortgage, As a general guide, if you take up a mortgage you will need to rent your home approximately 38-40 weeks per year to break even.

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Can I get a mortgage in Florida?

Yes, obtaining a mortgage in Florida is possible and quite straight forward. Loans of up to 70% are available for non-residents and are secured against the Florida property. There are fixed and variable rate mortgages to choose from with repayment terms varying from 5 - 30 years, and there are no age restrictions. We will be only too pleased to help you look into the financial side of purchasing, getting you the personal information you require.

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What are the closing costs and how much are they?

These are costs incurred when completing the purchase of the home. They comprise of a mortgage set-up fee along with the legal costs and registration of the property, which will total approximately 4.5% of the sales price, when taking a U.S. mortgage. If a mortgage is not required the closing total will be approximately 2.5%.

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How will I know the properties I view are the best for my personal requirements? How can I be sure that any decision I make is in my best interest?

Working with our realtor, we will have built up a portfolio of your personal requirements, knowing exactly what sort of property you need and what you want from your property. Being independent from any builder, we can show you any properties that are suitable to you, being impartial and unbiased. Having a full team in Florida ensures we have the most up to date information, and whichever country you are in there is always someone at hand to help or advise you.

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Are there rental restrictions in Orlando, if so what are they?

Yes, there are restrictions as to where and when short-term rentals are permitted. The four counties that make up the majority of the Orlando area each have different rules relating to the letting of vacation homes. It is therefore essential to obtain correct professional advice and guidance as to the suitability of particular property and location.

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What deposit would I need to reserve a property?

In most cases a $5,000 payment will be sufficient to reserve a property. This, furthermore, would hold the lot and fix the price of the property.

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Are there any hidden costs that I should be aware of?

Yes, there are if you intend to rent your property, You will need to comply with local legislation. This includes obtaining a hotel/motel lodging license and ensuring that safety features, such as fire extinguishers and smoke detectors are fitted.

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Do I need to open an American bank account in Florida?

If you choose to purchase a property, it is usually necessary to open a bank account. We will take you to a very reputable bank and assist you in opening your own account. You will need usually $100.00 minimum to open an account.

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How do I know which management company to choose?

This is a very important part of owning a property in Florida, if not the most important. Choosing a professional management company to manage, oversee and maintain your home in your absence is vital. If you intend to have rentals in your home it is very important to use the services of a company that keep your property in top condition for your guests and for you. Maintaining your home in top condition insures the best occupancy rate and repeat vacationers. Your tenants will want to return year after year to enjoy a blissful vacation in a private villa with all the amenities.

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To what standard should I furnish my home?

When purchasing in Florida a lot of sites will offer a furniture pack normally of a good standard, these would be economic, standard or deluxe. We would advise a standard package allowing you to put extra knick-knacks in, to make your home personal and a place to return to. It is not necessary to spend a fortune as furniture and accessories are inexpensive in Florida. Our interior designer would be pleased to show you examples of furniture packages which are excellent value for money.

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What are the tax implications of owning a property in Florida?

This is dependent on both individual circumstances and whether it is intended to let the property. We will be pleased to discuss the implications with you and can provide advice on the best methods of making your investment tax efficient.

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Am I covered by insurance in the event of damage to my property?

Insurance in Florida is inexpensive and a standard policy will cover you for most eventualities. If you are renting your home the management company should make provisions to obtain a security deposit from each group of guests on their arrival to cover all accidental breakages.

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Are there any restrictions as to the time I can spend in Florida?

You are legally allowed to spend up to six (6) months in any one year in the USA on a B2 Visa. It must be pointed out that if you are considering the possibility of retiring permanently to the USA, it is unlikely that you be granted necessary residential visa and independent advice should there be sought prior to making any commitments. We would be glad to discuss your requirements and can have expert immigration professionals available during your stay.

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If I would like to book an inspection trip with your company, what would it involve in time and notice?

We can normally arrange an inspection trip for you to visit Orlando with just a few days notice and we would suggest a minimum of 4 days to view property, see mortgage advisors and to open a U.S bank account. However, at certain times of the year, particularly Christmas, Easter, and all school holidays, flights and accommodation are in often in great demand and it can more difficult to arrange.

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I have flights and car hire, can you arrange accommodation for us for our inspection trip?

Yes, we would be delighted to arrange a luxury villa for you. We have a wide range of accommodation in nearby locations all with private pools.

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Contact Us

Telephone:

023 8025 5584

 

Email:

enquiries@florida-homes.co.uk

  

Rental Enquiry Form

 

Sales Enquiry Form