Buying a villa...maybe! Advice?

[DisneyYoda]

No idea where to post this (or if it's appropriate for the Dibb). Sorry if getting this wrong!

We stayed at a Villa last year and loved it. I'm sure we're not the only ones to then start thinking about buying/renting it out/staying in the winter months! Sounds like living the dream to me!

Anyone know where's the best place to go for real practical advice? Might not do it for another 5 years but hey might as well do some planning!

Thanks

[Edna Cloud]

There's lots of threads about this sort of thing on the Dibb, for example:
https://www.thedibb.co.uk/forums/sho...t=buying+villa

This thread is for someone who didn't want to rent it out, but i note that you would be renting it out. The simple truth is that it will cost a lot more than you think. The replacement costs are higher if you rent out as your guests may not be as careful as you would be and everything gets "hard wear" and you will need a good management company to look after the place when you are not there.

A big difference is whether you can buy cash, or whether you need a mortgage. If you have the spare funds available to buy, it might be a good way to have your own little piece of Florida, but lots of villa owners don't break even on costs so do it because you love it and can afford it, not because you think it will be an investment. Add up your running costs and compare that to how much it might cost you to rent a property for a few months in the winter to "snow bird".

That said, I've always believed that you should follow your dreams, so if this is yours...

Good luck

EC

[DisneyYoda]

Originally Posted by Edna Cloud

There's lots of threads about this sort of thing on the Dibb, for example:
https://www.thedibb.co.uk/forums/sho...t=buying+villa

This thread is for someone who didn't want to rent it out, but i note that you would be renting it out. The simple truth is that it will cost a lot more than you think. The replacement costs are higher if you rent out as your guests may not be as careful as you would be and everything gets "hard wear" and you will need a good management company to look after the place when you are not there.

A big difference is whether you can buy cash, or whether you need a mortgage. If you have the spare funds available to buy, it might be a good way to have your own little piece of Florida, but lots of villa owners don't break even on costs so do it because you love it and can afford it, not because you think it will be an investment. Add up your running costs and compare that to how much it might cost you to rent a property for a few months in the winter to "snow bird".

That said, I've always believed that you should follow your dreams, so if this is yours...

Good luck

EC

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Many thanks Edna for taking the time to respond with so much info!

I can see what you are saying about to renting out. Have to do some thinking.

Crazy idea just popped into my head about sharing with family... everyone gets a few months a year...I really do need to think all this through! Will start with that thread me thinks.

Cheers

[prugone]

There's been some great threads on here re buying property in Florida with a lot of good and detailed advice from Dibbers with experience. Suggest you try the 'Search' bar at the top of the page.