Do You Know What You Want?
Whether you are a first-time Florida homebuyer or entering the Florida marketplace as a repeat buyer, you need to ask why you want to buy. Are you planning to move to a new  Florida community due to a lifestyle change or is buying an option and not a requirement? For example a vacation home. What would you like in terms of Florida real estate that you do not now have? Do you have a purchasing timeframe?

Whatever your answers, the more you know about the real estate marketplace, the more likely you are to effectively define your goals. As an interesting exercise, it can be worthwhile to look at the questions above and to then discuss them in detail when you ask us to meet you, your Florida REALTOR®.

Do You Have The Money?
Homes and financing are closely intertwined. (Financing is the difference between the purchase price and the down payment, commonly referred to as debt or the mortgage.) The good news is that over the years new and innovative loan programs have evolved which require a 5 percent down payment or less. In fact, a number of programs now allow purchasers to buy real estate with nothing down. In the case of a vacation home there are programs which require just 20% down.

In addition to a down payment,  Florida purchasers also need cash for closing costs (the final costs associated with closing the loan). Several newly emerging loan programs not only allow the purchase of a home with no money down, but also underwrite closing costs.

Not everyone, however, elects to purchase with little or no money down. Less money down means higher monthly mortgage payments, so most Florida homebuyers choose to buy with some cash up front.

As to closing costs, in markets where buyers have leverage, it may be possible to negotiate an offer for a home that requires the owner to pay some or all of your settlement expenses.

Is Your Financial House in Order?
Those great loans with little or nothing down are not available to everyone: You need good credit. For at least one year prior to purchasing a Florida home, you should assure that every credit card bill, rent check, car payment and other debt is paid in full and on time.

LOCATION, LOCATION, LOCATION.
One aspect of buying a home is to hope it will appreciate in value. If you are buying a vacation home or villa and the return from any rentals is important then the location is all important.

Let us advise you on what are the best locations from a vacation view point. What is up and coming. There are some great developments under construction at the moment that are going to be the standard of the future. Do not buy a home without knowing what is needed to keep the rentals coming in. Please also get the true picture on likely rental returns. All to often agents will make claims about rental income that they cannot back up. We advise fully on all aspects of this. We will introduce you to a management company who will give first hand experience of what is happening in the rental market for short term rental homes. They tell it like it is, so you are fully informed.

Owning a vacation home or villa here in the Disney area is something that needs to be  thought about long and hard before you make that commitment. Let us help you make the right decision. As we keep saying, we want you to be happy with your choice.