Resale or new property? Vacation or residential condominium? Bigger or smaller houses?
These questions are part of my routine and the interesting thing is that, once again, I don't know if the right answer would be the same for everyone. The value of the property itself tends to rise over time, steadily but slowly, so the profit is made over the long term. Newer, less developed and growing areas can appreciate more in the short term until they reach market value, and then continue to do so more slowly.
During my specialization in investment and vacation homes, I learned that several points must be taken into account when making a purchase decision:
- If we look only at the business side, what is the purpose of buying the property and what is the expected return on it?
- How long do you want to keep the property?
- Is it for personal use?
This kind of simple analysis is very helpful, especially for realtors, as it allows us to see the best indication for each case. Would it be a vacation home, where you can rent it out for vacations while it's not being used and therefore generate income, or would it be a house that's still under construction or one that's already ready. Once the house is ready, you can start generating income immediately, without having to wait for construction.
Great deals happen at any time of the year and there is no shortage of condominiums to suit all tastes and budgets
Many condominiums offer a pre-sale option before the houses are even built. This can be an excellent time to invest, as you'll be able to get the most attractive prices, but it requires the buyer to be more business-minded, as you're buying an "idea" without being able to see the house or the condominium itself. In this case, the time factor also comes into play, as we have to wait longer for the property to be delivered.
A factor that should always be considered is the greater possibility of lots being available when the purchase is made at an early stage.
Like any market, although Orlando is always a busy place with excellent real estate options, during the spring and early summer months it can be a great time to sell a property. Residents are buying and preparing for the start of the school year in August and therefore need to be in their new homes.
For those looking for a vacation home, the first half of the year is when a lot happens, so that they can enjoy the summer. On the other hand, for those who have the second half of the year as a favorable time, this is the time when construction companies want to increase their sales in order to close the year at or above their targets, so we can negotiate a little more.
Considering that the negotiating price here is relatively small, knowing the type of property you are looking for and having an experienced broker, great deals happen at any time of the year and there is no shortage of condominiums to suit all tastes and budgets.