A two-bedroom apartment is for sale in central Florida for less than the national average salary in the UK, currently around £26,000.
Article written by The Overseas Guides Company
The bargain property, situated in Orlando, is on the market for $35,500, which at an exchange rate of £1/$1.50, values it at £23,700 to a UK buyer, depending on the exchange rate they would get from currency specialist Smart Currency Exchange. It’s certainly a one-off in a property market that has turned the corner – real estate prices in Orlando in January were 19 per cent higher than the previous year and realtors in some areas are saying it’s now a seller’s market.
So what do you get? The property is a condo apartment with two bedrooms and two bathrooms, with a mix of tiled and carpeted floors, and white goods included. On a complex next to Lake Tyler, it has views of the lake and communal pool. It’s close to downtown Orlando, as well as the Mall at Millenia.
A convenient holiday pad, it might be best used as a long let. According to the agent selling it, Iris International, the property could generate monthly rental income of $700-$750, which would be a return on investment of 10-11.6 per cent, after closing and reparation costs, and monthly fees and taxes.
Anyone on the verge of buying a property in the USA, who will need to transfer Sterling to a dollar account to pay for their purchase, should consider using Smart Currency Exchange, as they consistently offer better exchange rates than banks. For more information on this, visit the Currency Zone or download Smart’s free report here.
For details of property for sale in the USA, visit the American listings on Rightmove Overseas.
To understand the full step-by-step process to buying a property in America, collect The Overseas Guides Company’s ‘USA Property Buying Guide’
The views and comments herein are those of the author and do not necessarily reflect the views or opinions of Rightmove Overseas, Rightmove Group Ltd or Rightmove Plc