I Want to Buy Real Estate in Florida. What is the Best Option?
That’s the classic question that we hear from Brazilian investors. The best answer is: IT DEPENDS!
Lately, the opportunities in the real estate market in Florida are vast. From land to condos, vacation homes, luxury houses and warehouses, even condos under construction; it will all depend on your goal and your investment capital.
A lot of investors start slowly, buying at first one property, to learn the steps of the process and then invest on more properties.
The so called vacation homes are those with short term rent agreements. They are normally located on the Kissimmee area and these houses can be managed by management companies. That’s the most popular alternative for Brazilian investors since Florida is such a touristic reference, who comes to visit once normally comes back, so investing in properties is an attractive alternative to save money with hotels and to have more freedom and privacy at the same time. With the money collected from renting the owner normally can pay the expenses with taxes, insurance, management and still have a little left.
If the plan is to move to Florida or have your own property with no intentions to rent, condos or homes in residential areas are an attractive alternative. The most popular cities besides Orlando, are the ones surrounding it, like the charming Winter Garden, Windermere and Winter Park, among others. You can find homes or condos in different price ranges, but normally they are cheaper than in Brazil and capital appreciation is probable.
If you are looking just for an investment, investors try to diversify with different properties, residential and commercial. The financial return can vary on 5 to 12% annually, depending on location, taxes, expenses with the property, among other factors.
No matter what kind of property you have in mind, always count on professional help to guide you on your decision in every step of the process. A good investment will need a good research of information, a good knowledge of the market and security in your decision.