I have been an owner for 7 years and my suggestion to you is think very carefully before you do anything.Getting rentals is not easy -whatever spiel anyone gives you - a guaranteed rental is not worth the paper its written on so the only way to get even a small return is to do everything yourself and that is a time consuming job.Most of the good lisitng sites are not taking on any new homes at the moment .There are many new builds going up at ridiculous prices so be wary of getting yourself tied into putting your money down at the rate today and then having to find the rest at a different rate.
Having said all this it is good to have a base in Florida but be warned you will never have a holiday again as long as you are a homeowner .If you would like the name of someone who could help you then get back in touch.

Thanks very much for your reply!

We are giving ourselves about a year before we make the decision - we have a deposit but we want to ensure its viable before we do anything.

We have been looking at pre-owned homes as well as new builds - but we are not sure what the costs will be because of taxes, agents fees etc

Is there a website that provides an guide to buying??

Thanks Again,

Joolz

We have recently sold our villa in Kissimmee that we had for 9 years after being hit by 3 hurricanes in close succession and although we enjoyed having it we never made a profit or broke even.I agree with what Salisbury gal says.US bookings pay a pittance especially if they are via travel agents.It costs to advertise in the Uk and the main Uk bookings that you pick up are during school holidays.You should investigate the extras such as local taxes ($2000 per year in Kissimmee) insurance($500 p.a) pest control($30 per month) lawn and pool maintenance ($140 per month) TV($50 per month), phone and phone block ($30 per month) and utilities($150-200 per month),12% tax to be paid on all guest income, licences,cleaning charges($60 after each guest) management co fees ($90 per month)all of which have to be paid on a monthly basis even if you have no guests staying in your house.There are service contracts on white electrical goods($70 per month).Also guests mean damage and work orders.You also need a very good management co. that you can trust when you are 4000 miles away. I also agree it's no holiday because you spend most of your time in Home Depot or doing repairs and maintenance.You also have to register with the American IRS and have a US accountant.It is also advisable to make a US will and there are attorney's fees to pay for this.US mortgage rates can be higher for non US citizens and property values do not increase much.If you look in Loot you will see the competition that you have to match.Everything went pear shaped after 9/11 and we didn't have a guest for 6months.People cancelled because they were afraid of flying to the USA.Much better now but who says it couldn't happen again. My advice would be to enjoy somebody elses house unless you do not need a mortgage or only a very small one and are prepared to subsidise your folly in order to be a Florida resident.Good luck.However if after reading all this you are still determined to go ahead contact me and I will put you in touch with a reliable realtor and believe me ,there are alot of sharks out there.

I think we are going to invest elsewhere after much advice and investigation work it sounds like its not viable afterall!!

Thanks to both of you for your honest advice - think we have been saved from making a big mistake with our savings!

Best Regards

Joolz

Glad to be of help.We also were not told the full story when we decided , on an impulse to purchase whilst we were on holiday in Kissimmee.We were told that we could be guaranteed up to 40 weeks guest occupancy each year and that this would more then cover all our expenses.It took us some time to realise that this was not true.In addition we had to plough back most of our early profits into upgrading the facilities of the house that we bought as a resale property.

Never a truer word spoken. I have had my home on the Manors at Westridge for 2 years now and maybe next year,I will make a very small profit. All the realtors want to do is sell the homes and get the commision on closing. I love my home and have been very lucky rental and management co wise , but it is very time consuming and you do have to be dedicated to do it all yourself.
best wishes

Cor heck! Someone tell the good! I bought at 3 bed furnished condo for $129,000 it is worth $225,000 now in under a year. I bought another that cost $144,000 off plan. It isnt quite finished yet and before it is even built it is worth $240,000. We have had 2 good holidays, a good rental company has rented out 38 weeks for this year.

Spain is very expensive with a short rental season and a 10% property tax of the buying price, UK is dropping in price.

I really do feel it is a case of doing your home work. I make a small profit while the mortgage is paying for these 2 properties.

Sorry but there are some very rich people who have bought and sold in Florida. My own capital growth in Florida has been 36%+ in a year. It wont go on like that but eith this pension fiasco ( i wouldnt do it) more will buy in teh US than ever before. Property boom in Florida. Stuart

Glad it worked out for you Stuart. However, as a result of global warming ,these yearly huricanes are likely to be a permanent feature in the USA so I'm glad we sold when we did.