# Buying Holiday Home In Kissimmee, USA



## leen3o (Jul 7, 2011)

Hi Newbie here 

I know this question has been asked a few times, and I have read through all the threads on here but they seem rather old.

In a nut shell I am very interested in purchasing a holiday home in Kissimmee, as you can pick up some amazing deals at the moment. I want to use it for me and my family for maybe 2 months of the year maximum and then rent it out as and when for the time we are not there.

I am really looking for someone who has already done exactly what I am intending to do, and would be willing to give some advice/how tos/not tos? I wanted advice on the following and the actually buying process (Is there an equivalent of stamp duty in the US).

My list so far

•	Property taxes?
•	Management fees?
•	HOA fees?
•	Electricity?
•	Cable/internet?
•	Water?
•	Insurance?
•	Maintenance and community service charges?
•	Rental management companies?

If you have any experience of doing this or know someone who has done it - I'd love to speak to them and get some real advice.

All help greatly appreciated 

Thanks
Lee


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## WilsonP (Jun 22, 2011)

Lee,

I'm a US citizen living on the east coast of Florida, but I may be able to offer some clarifications.

Most property in the US is sold through realtors, listings are posted in a system called the MRLS which means any realtor can show/sell a listed property. Occasionally, you'll see properties that are listed with only one realtor. Typically the seller pays the realtor's fee but beware, this means the realtor is working for the seller, not you.

There is also a significant number of homes listed for sale by the owner, google "buyowner" to get an idea.

I do know that there are realtors who specialize in working with expats, once again, by googling "UK resident buying property in Florida" you may get some leads.

As for your specific items:

Property Taxes - usually the listing will include how much the property taxes are. I currently pay a bit over 1% of the appraised value. Since this is my primary home my taxes are limited to a 3% increase per year but you won't qualify for that. The rate you pay will depend on where you buy.

Management Fees - I don't have any direct info on this. I would suppose it depends on what services you want from them. There are properties where you buy a condo unit and the management handles renting it out for you.

HOA fees - The bane of Floridians. Not all properties have an HOA but most do. The fees vary widely depending on the type of property and the level of service provided. You may pay $25/Month at a place that offers few amenities, or several hundred/thousand at a place with pool, clubhouse, lawncare, security, etc.

Utilities - Setting up utilities is simple if a bit time consuming. You may be able to do everything over the phone, or may have to go to the utility office. Florida deals with a lot of part time residents and so you have options such as automatic withdrawal of bills from a checking account, cost averaging-where you'll pay a set amount each month. You may have an electric company, a cable/internet company, and a water/sewer/garbage company. it depends on where you live.

Insurance - that's determined by wether you'll take out a loan or buy outright. If you buy outright you don't need any insurance, although its certainly a good idea if you'll be renting. You are looking at Kissimmee which is well inland so you'll not be hit with huge premiums like those of us on the coast where hurricanes sweep through. One thing that is not included in normal homeowner's insurance is flood coverage. I personally don't have it and I don't think it's an issue here in FL, but it's up to you. You will want to ask if the property is in a flood plain.

Maintenance and community service charges - These are covered under the HOA category. You may have to arrange for yard care yourself, or the HOA may provide it. A good rental management company should be able to arrange this.

Rental management companies - A google search should provide a huge list that will give you a starting point. Your fellow expats would be the best source of info.

pete



leen3o said:


> Hi Newbie here
> 
> ...
> 
> ...


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## leen3o (Jul 7, 2011)

Thank you for the reply - Exactly what I was looking for.

Thanks again


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## Davis1 (Feb 20, 2009)

Well there certainly are some bargain to be had 
shame you are 5 years to late .. the bubble has burst Brit are giving up ..some even abandoning properties in the US 

check everything very carefully before you sign anything
even check the cost of utiliies, insurance etc .. and management costs


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## johncis (May 19, 2011)

Davis1 said:


> Well there certainly are some bargain to be had
> shame you are 5 years to late .. the bubble has burst Brit are giving up ..some even abandoning properties in the US



Don't know about it being a shame or being five years too late in fact I would say that you are about a year late. I am an investor in repossessed properties in Orlando and have several but all are on long term rentals so I will help as much as possible. All the answers to your questions that WillsonP answered is correct so I will try and give some sharpness to a few of the answers. The site that you can go to to find information on any house that is up for sale is the Regional Realtors Associations MLS system at this address (I cant post the link but just PM me and I will send it to you) Florida Homes for Sale direct from MLS just click of Orlando and it will take you there if you look at the check list on the left just click NO to Normal sales and NO to short sales but yes to Bank owned and it will tell you how many homes are for sale in Orlando. Then pan down to the area you want and start clicking on the homes and have fun.

Property Tax… This is listed for each house for sale on the MLS just find the house you are interested in. On the site I gave you click the picture that comes up and then scroll down the specs list and it will tell you all you need to know about the house its tax and much more including the agent who has it listed.

Management Fees… My property manager is right in Kissimmee and she will be happy to help you just PM me and I will put you in contact with her.

HOA Fees… Nougth said - makes my skin crawl at the sound of it.

Utilities… Very simple just ask the management co and she will do it all for you. As I have multiple houses I have standing contracts for all of the utility co’s but depends on which company you go with.

Insurance… again a bit of a mine field but I can put you in contact with my Insurance co who I now have and trust after going through a few. You must buy a house that is not in the flood plain or you will not get it insured.

Maintenance and community service charges… As said 


HAVE FUN


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## WilsonP (Jun 22, 2011)

Davis1 said:


> Well there certainly are some bargain to be had
> shame you are 5 years to late .. the bubble has burst Brit are giving up ..some even abandoning properties in the US
> 
> check everything very carefully before you sign anything
> even check the cost of utiliies, insurance etc .. and management costs


I'm not sure what you mean, the bubble has burst, but that's a good thing for buyers. Taxes here are minimal compared to what I understand of GB and even other parts of the US.

It is very good advice to ask for info on typical electric bills etc. If the buyer won't or can't supply them, they are available from other sources.


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## Davis1 (Feb 20, 2009)

I wont argue with these experts ..but whatever the property taxes are listed at ..you will not be paying that... 

I have been a Florida property manager ..but fortunately all my clients could see the light and sold up before it all crashed out ....good luck


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