If you have decided to expand your investment portfolio to include vacation rental properties, you’ve made a great first step. The next thing you need to consider is where exactly you should purchase a vacation home. We hope the answer to that is Orlando because there are so many smart reasons to invest in the sunshine state!
World class attractions and plenty of sunshine bring tourists year round
First, Orlando is the number one family tourist destination in the world with 75 million visitors choosing Orlando as their vacation destination of choice in 2018. In fact, the number of visitors flocking to the state rises every year and has set higher records for 9 consecutive years in a row.
Plus, if you want to invest in a home that has a lot of options for tourists to enjoy, Orlando has it all. Of course, all within a few miles of each other you have some of the best theme park attractions in the world such Walt Disney World, Universal Studios and Islands of Adventure, Sea World, and Lego Land.
In fact, Disney is considered one of the top three brands in the world and continues to grow as Disney keeps innovating its parks to offer more reasons for visitors to return each year. In turn, the other theme parks and surrounding areas are also always developing new attractions to bring visitors back again and again. That means plenty of opportunity for repeat business for your rental.
While a family could spend their whole vacation just exploring one theme park, there are many small attractions to keep tourist entertained too. You’ll find smaller entertainment destinations in Orlando like I-drive 360, Old Town, and Pointe Orlando. Plus, Orlando’s central location in the state makes plenty of day trips possible for visitors to take advantage of like Busch Gardens in Tampa or Kennedy Space Center and east coast beaches.
Why tourist love vacation homes in Orlando
Of course, 75 million tourists can’t be wrong! Orlando is a premier destination for visitors from all over the world and increasingly they’re choosing vacation homes as their preferred accommodation of choice over hotels. In fact, according to a Trip Advisor report from 2016, 67% of travelers are willing to consider a stay in a vacation home. That means over 45 million travelers to Orlando considered vacation homes for their stay last year.
Furthermore, tourists are choosing vacation destinations where the entire extended family is invited. Because of this, families are seeking accommodations for vacation homes as opposed to hotels because the homes offer a single place for everyone to stay with private bedrooms and common spaces for families to gather, unlike a hotel that might split a family up to different floors and offer little space for a large group to gather and relax privately.
Our investors have found that a vacation home in Orlando has many other advantages over most other vacation markets because of the beautiful weather the sunshine state has to offer. While other areas might have a tourist season, Orlando’s weather makes all the wonderful attractions in Central Florida available year-round giving your more opportunities to rent our your home.
As an investor, there are so many resort communities to choose from too. Most of them offer plenty of luxury amenities in the community in order to compete with hotels in the area. With the ability to rent out your investment daily, weekly, or monthly; there are so many ways for your rental to succeed in the Orlando market.
There are plenty of investment options in the Orlando real estate market
Central Florida is one of the fastest growing regions in the United States in addition to being a world class tourist destination. Not only are there plenty of opportunities to purchase vacation homes for personal and rental income, but there are plenty of other areas where you can invest in a booming real estate market. Established neighborhoods like Lake Nona, Winter Garden, and Celebration have lots investment options as do new communities being built to serve the ever-growing area like NeoCity, and the Downtown Creative Village.
However, real estate prices in central Florida are still incredibly affordable and interest rates—even for foreign investors—are at an all-time low! There are so many varied types of properties from supersized seven-plus bedroom homes to townhomes and condos. Besides, it’s always a great idea to have US dollars in your investment portfolio.
Finally, the vacation rental model is a proven success in Orlando and has a well-developed and regulated industry. Where else can you purchase a home for your own personal use and enjoyment, realize appreciation, and earn income when you are not using it?
Let us help you find your next investment property
There are some amazing ground-floor opportunities in the Orlando resort home real estate market. We offer knowledgeable, proven real estate professionals to help you choose the perfect property to fit your objectives. Let us help you look at all the real estate opportunities in Orlando with the confidence that you’ll have a knowledgeable partner devoted to the success of your investment property.
There has never been a better time to own your second home in Orlando! Let’s start the process now!
Call us at 407-922-4620
Or email me at Milena@VivaOrlando.com and let’s find the right home to fit your vacation enjoyment and investment needs!