Savvy investors who bought in Florida before prices began to rise in 2012 are already reaping the rewards, but with continued hikes expected in 2014, there’s still time to tap into the rising market.
Article written by The Overseas Guides Company
House prices in some parts of the Sunshine State have seen double digit growth in 2013, as demand from international buyers has fuelled rises. And with the pound hovering around a two-year high against the dollar, now could be an ideal time to buy in the US.
Ronnie Wilson, a company director from Hampshire, purchased two properties in Florida in February 2012, buying for pure investment. He opted for two new three-bedroom townhouses in Lake County, Orlando, just 10 minutes from Disney, paying around $100,000 for each outright.
“They’re in a popular area with relatively high local employment with Disney employees and international visitors,” said Ronnie. “I took the view that prices were at bottom and could only go up. I had a 10-year horizon on the capital.”
Ronnie was forecast rental return of around six per cent from his investments, but in reality return has been around 10 per cent.
Buying through a professional realtor helped Ronnie purchase successfully. He bought through Iris International, describing their service as “comprehensive, professional and personal – the purchase took around two months, from finding the property to getting the deeds”.
Investors inspired by Ronnie Wilson should search the Florida property listings on Rightmove Overseas. An example of what’s available, which is similar to Ronnie’s investments, is the above three-bedroom townhouse at Regal Palms in Davenport. On the market for $109,000 and built in 2005, it’s on a gated community with communal facilities.
A simple way to save money when buying property in Florida is to use a currency exchange specialist when transferring your pounds into dollars. For more information on this, download Smart Currency Exchange’s free report or visit the Currency Zone.
For more information on buying property successfully in the US, download the Overseas Guides Company’s free USA Buying Guide – and start receiving free news updates by email.
