|
EXAMPLE OF PURCHASE AND RUNNING COSTS
Example Purchase Price (Freehold and Fully Furnished)
| $300,000
| Total Deposit assumed @ 25%
| $75,000
| To secure Plot and hold Price (15% within 30 days)
| $45,000
| Mortgage amount
| $225,000
| | | | Monthly Mortgage (assumed @ 5.5% over 30 years)
| $1,278
| Building / Contents Policy & Property Taxes
| $300
| Example Management Costs
| $250
| Utilities average per Month (electricity, water, phone, TV, etc)
| $485
| Homeowners Association Fees (includes Lawn Care)
| $115
| | | | TOTAL COST ESTIMATED PER MONTH
| $2,428
| | | | ANNUAL COST
| $29,136
| | | | ESTIMATED INCOME:
| | | | Average Rental Income per Week
| $1,080
| | | | Total Annual Income @ 35 Weeks
| $37,800
| Total Annual Income @ 40 Weeks
| $43,000
| Plus additional Pool Home Receipts
(assumes 20 weeks/year when guests pay $200/week for pool heat)
| $4,000
| | | | NET ANNUAL RESULT (assuming just 35 weeks rented)
| +$8,664
| | | | NET ANNUAL RESULT (assuming just 40 weeks rented)
| +$16,708
| | | | Add appreciation on the Villa @ just 5% pa
(2003/2004 experienced growths of over 15%)
| +$14,054
| | | | Plus add your own Holidays in your Villa: 12 weeks each year !
| +$10,800
|
Please note the following features are included in example villa prices:
Private swimming pool (usually heated) with screen enclosure, irrigation system, lawn, fully furnished home with all furniture included down to towels etc. and a fully fitted & equipped kitchen with cabinets and all appliances including microwave, dishwasher, washing machine, drier, window blinds, double garage, full set of patio/pool furniture with padded loungers. TV’s, paintings, floral arrangements etc.
Not included
Jacuzzi, any lot premiums applicable, closing costs & contingency funds.
Interest rates of 5.5 % and the exchange rates of £1=$1.80 are assumed for illustration purposes only.
Please note there will be an additional amount for closing costs for items such as pre-payment for taxes, insurance, notary costs and title insurances. The amount is dependent on many factors like the purchase price, mortgage amount, property taxes etc. We can provide you with an estimate of your own circumstances now if you wish but for a rough and ready figure we would recommend allowing around $5,000 for this. (This compares to the completion costs in UK home purchases except that the UK costs are generally higher for some transactions and may attract a stamp duty as well). As stated on our mortgage page: please also note that some lenders require you to show funds equivalent to 6 months mortgage payment when approving a loan.
The above rental examples would still leave a minimum of 12 weeks (17 weeks with 35 weeks rentals) for use by you, your family or friends. The equivalent minimum value each year to you will be $10,800 or £6,000 !!
We have illustrated between 35 and 40 weeks of rentals as our clients who currently need the income from the rents for these periods easily achieve this. Many achieve more then 40 Weeks and some cash purchasers are generally happy with just 20 weeks or even less, to pay for the expenses of the villa and several holidays each year in it.
Popular vacation rental villa and poolhome communities near Disney in central Florida: Aldea Reserve, Aviana Resort (Meritage / GH), Aviana Resort (Park Square Homes), Bellavida Resort, Bridgeford Crossing, Calabay Parc at Tower Lake, Emerald Island Resort, Orange Tree, Sandy Ridge, Sereno Resort, The Shire at West Haven, Solana Resort, Veranda Palms, The Preserve at Watersong, Watersong Resort Beach Series, Watersong Resort Palm Series, Windsor Hills Reserve. Popular vacation rental townhome & townhouse communities near Disney in central Florida: Popular vacation rental condo (condominium) communities near Disney in central Florida:
|
