Buying Orlando real estate is one of the best investment decisions you can make. Mortgage rates are still at an all-time low, and the market is especially hot for investors. Orlando offers a unique opportunity that investors can find elsewhere. It allows you to earn rental income and plan for your retirement.
It’s never too early to plan for retirement and secure a stable financial future. Most people choose Florida as a retirement destination because of the great climate, year-round activities (like golf), and proximity to theme parks, beaches, natural habitats, and outstanding shopping.
Orlando Investments and Retirement
If you know you want to retire in Florida, but you’re not sure where, Orlando makes sense for a number of reasons. First of all, it’s a large city with all the culture and opportunity you’re looking for, but it’s not overcrowded like some of the coastal areas. You have less to worry about in terms of hurricanes. While tropical storms manage to cover almost the entire state, your insurance costs and potential for storm damage will be much lower in the central part of the state.
The home prices are still low, but the values are increasing. While you might be completely priced out of the market in a city like Miami or even Jacksonville, Orlando has some great opportunities to spend less on your investment now and really watch the asset grow in value while it appreciates over time. Depending on your age and your financial situation, it’s completely possible you could have the home paid off once you’re ready to make it your full-time residence.
Buying a home in Orlando will allow you to secure a stable, passive income and set you up for retirement later. Let’s talk about how you do that.
The Formula: Buying and Renting
Retirement may be a several years off or right around the corner. Wherever you currently find yourself, it’s probably a great time to invest. There is a lot of diversity in Orlando real estate. You can choose a modern condo downtown or a spacious and private single-family home in one of the established suburban communities just outside of the city.
Think about your budget and where you plan to live when you’re ready to retire. Maybe you’ll want to be close to the airport because you plan to travel frequently. Perhaps you’re hoping for frequent visits from the grandkids, so you’ll want to be close to the theme parks. There’s a lot of choices in Orlando.
You’ll want to think about what makes money as well. When choosing an Orlando investment property, make sure you’re buying in a desirable location. Don’t waste time and resources on a low-dollar home that needs a lot of renovations. For your purposes, a home in great condition that can be rented out right away will work best.
Partner with Professional Orlando Property Management
If you’re not sure you have the time, expertise, or personality befitting a landlord, don’t worry. With a professional Orlando property manager leasing and managing the home for you, there’s very little to worry about. A good property manager will help you price your rental home, prepare it for the market, find a great tenant, and take care of any routine or emergency maintenance issues.
Investing in an Orlando rental property means you can have someone else help you pay down the mortgage on your future home. That’s not a bad deal, and we’d love to help you take the steps towards achieving this investment goal. Contact us at R. Russell Properties. We can help you identify a great income-producing Orlando property that will serve as a comfortable retirement home in the future.