I would disagree with others that there are not areas where the rental market is very strong that would also make a good retirement home. In fact the rental market is incredible in most areas of Florida with rents on the rise; a trend that should certainly continue through 2012.
I would agree that some of there high traffic areas around Disney and other attractions around Orlando that may not make the ideal retirement home but certainly there are some fantastic areas nearby that do if you decide a central Florida location will work for you.
The key for you is to pick an area and envision what that area might look like in 2022 which means city planning that is well thought out and again one of the reasons we find Jupiter so attractive. Balancing association leasing regulations with your desire to lock in today's pricing is easily accomplished in any area.
With shrinking inventories and still very desirable pricing you are on the right path and I wish you the very best of luck.
Tom Priester e-PRO
"Results Driven Real Estate"
Keller Williams Realty
Resort Property Owner (for 16 years), Author (two books on vacation property), top U.S. Expert, and Realtor(R)
(Speciazing in New Holiday Homes priced from $250K to $8 Million).
I think Carri hit the nail on the head. A vacation pool home that has a high occupancy rate will NOT be in a location that you would likely want to live in full time when you retire. Think about it. When you are in your sixties do you want to live next to other pool homes that have ever changing families on vacation making the kind of noise that vacationers will make? Doesn't sound very attractive for retirement. I am afraid the answer to your question is that NO areas are that good if that's your purpose.
The other concern I would have with your plan is that is sounds like you want a passive investment in which your management company takes care of everything. If you want the "best" results, then you need to be involved in running the business and that means taking control of bookings via a site like VRBO.com That will be true in whatever location you decide on. It doesn't matter what the occupancy rate is, if you don't get the lion's share of the income from that occupancy.
So what do you want? A short term rental business or a place to retire to one day?
If you really are more interested in the short term rental side of it, then the are south of Disney contains dozens of communities and hundreds of properties that fit the bill and I'd be happy to show you a few tomorrow. If retirement is the real driver, then contact me with the lifesyle you are after because you haven't said a thing about what you are looking for in a retirement home.
Happy New Year!
Having been from Jacksonville to Key West and Naples to Pensacola and most points in between I know the state very well. There are some amazing places to call home but many differences in weather, lifestyle and landscape; stay below Vero Beach on the east coast and Sarasota on the west coast if you want the best winter weather. While I would not consider either Orlando or Tampa as southern Florida both have some very nice features. We have found that northern Palm Beach County and in particular the Jupiter/Palm Beach Gardens corridor to provide on of the very highest quality of living experiences one can find in the Sunshine State. The best place I can point you is a brief blog I did about the Jupiter area;
As a resident of Jupiter, I work throughout Palm Beach and Martin Counties, and a great place to start is by defining your goals and comparing the lifestyles and housing costs of areas that you are interested in. There are so many different options available to us that reside in the state and I have selected Jupiter because of the quality of life that we enjoy. From my viewpoint, there is no finer place to reside that the Jupiter area; from the best schools, to a fantastic economy fueled by many factors and of course the wonderful facilities of Max Planck and Scripps Institute, to incredible unspoiled beaches, unbelievable dining and shopping options, numerous boating and golf opportunities, uncrowded streets, low crime and just the overall kindness of our residents. Recently we were out with a client form New York who commented on just how nice everyone is; and why not as we are truly lucky to live in Paradise.
I work almost entirely as a buyers agent in Palm Beach and Martin Counties and certainly would be honored to be on the list of RealtorsÂ® you interview and happy to be of assistance in any way that I can. If you are in the area and would like a tour I would enjoy showing you why I am so fortunate to call Jupiter my hometown.
I hope this information is helpful but if you need anything additional please do not hesitate to give me a call.
Always at Your Service,
Tom Priester e-PRO
"Results Driven Real Estate"
Keller Williams Realty
Thanks for your question and inquiry about our great State. As the previous response pointed out, each area has specific and individual attributes that are not the same in each area. Each area is good in their own way but you will need to ask yourself, what kind of vacationer am I going after? (The Disney crowd or the snow bird from up north who wants the beach) Also is this home going to be a full time residence for you 10yrs from now? Trying to combine an income producing rental with a home you wish to retire in full time can be tricky. As suggested check out each area and then eliminate the ones that you are not interested in. Once that is determined finding a property manager/maintenance company will be fairly easy to locate. Kissimmee area is always a great choice because of the very close proximity to Disney World especially in the high seasons such as right now.
I wish you well in your search for the best area for your needs.
You can't beat Florida's coastal areas for rental potential. It seems that the very first rentals to disappear from the rental markets are those located directly on the beach. For this reason we would strongly recommend giving the area between Sarasota, Venice, and Englewood your attention.
US News and World Report just last week recognized Port Charlotte as one of America's top 10 locations to relocate. Their criteria for determining this was housing availability and cost and quality of living. Port Charlotte is located 20-30 minutes from the nearest area beaches.
Sarasota's Pineview School is a nationally recognized school located in central Sarasota County. If education is a priority, this is a must location to consider since last year Pineview was in the top seven nationally.
I'm sure there will be many attributes fror each of your target locations....our recommendation is to focus on each area first concentrating on what it has to offer and leave the home as a secondary focus. Once you have the perfect location....the right home will come next.