Home Buying in 34747>Question Details

Julia, Home Buyer in Sandhurst, UK

Hello, can anyone give me a rough approximation of monthly running costs for a 3 bed pool home?

Asked by Julia, Sandhurst, UK Sun Jun 22, 2008

It is approximately 1,500 sq ft, no really high ceilings. We will be using a Management Company (not decided which one yet), but am more interested in estimated utilities, average annual maintenance etc. Our home will be used for short term rentals as well as personal vacations. We are looking to go to contract in the next week, so prompt answers would really, really help! Many thanks

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Hello, Julia,
If you are still looking for a property.

I specialize in income producing properties in the Disney area. (Central Florida short term rentals,vacation homes,second homes) I have been an investor for 17 years in this area as well as helping others invest in Florida properties. 90% of my sales in the Disney area are international buyers. I am sure I can help you find a very good vacation/income property that you can use at any time you want to use the home.You can call me at any time and we can talk in depth about how the best way for you to purchase a property, what is needed for you to start the process, managers taking care of your property and what they charge, how bookings/guests are placed in the property and the fees involved and what kind of income you will receive in all the different communities in the area. Every community close to Disney has a little different income ability. This is where I come in. You do not want to be to far from Disney. Please contact me and I will answer all your personal questions over the phone. It's best to answer all your questions before we start looking at properties. You can call me at 407-572-3022 or email me at btscarpa@aol.com

Thank you
Bernard Scarpa
American Ideal Homes, LLC servicing all of your Florida Real Estate Needs.
Income producing properties
Disney Florida Vacation Property Investment Specialist
Resort and Second Home Property Specialist
Office Hours are 7 days a week
9:00 Am to 9:00 PM EST
Cell # 407-572-3022
Fax # 407-957-5843

btscarpa@aol.com
0 votes Thank Flag Link Sat Jun 15, 2013
Boujour,

Let me explain how Trulia works. You click on my picture and that sends you to my profile and you can send me a direct email from there with your question to me. Be glad to help you out. Please include your budget.

Bonne chance,
Mark LeMenager
Trouvez votre maison voisine avec le clic d'une souris.
Rechercher dans le MLS sans obligation d'enregistrement ou de mon site web
0 votes Thank Flag Link Sun Feb 20, 2011
Mark, I'm really interested in your "financial model" as I'm thinking of buying a condo in Kissimmee, and I live in France.
thanks.
0 votes Thank Flag Link Sun Feb 20, 2011
Hi Julia,

No need for me to repeat the numbers for you but now that you have them you can plug them into this spreadsheet and see if the investment makes sense for you: http://theflamingogroup.com/estimated-return/
0 votes Thank Flag Link Wed May 5, 2010
A year and a half old but still a good question given the huge foreign interest in buying property in Orlando again. Vacation homes and condos make more sense than ever. It is now possible to create realistic financial models that actaully make sense for them. Anyone interested in a 2010 uopdate? I'd be gald to help.

Good luck,
Mark LeMenager
Find your next house with the click of a mouse.
Search the MLS without obligation or registration from my website
0 votes Thank Flag Link Sat Feb 27, 2010
Hi Julia,

We rent out vacation homes, not management. However, from running a PMC for 8 years here in Orlando, you are looking at roughly: Management Fee $120-150, lawn care $100, pool care $80, pest control $30.
Your utilities will be an unpleasant surprise for us Europeans: power about $120-250, water $30, phone $30, cable $80 and possibly gas (depends on your community and home) $70.
Occupancy will affect your utility costs: your AC cost will go up when occupied (electric) and especially when people take pool heating your gas or electric will double (or more sometimes).
I know it may be difficult to make the right decision, but here are a few thoughts:
1) your investment is your property, not your rental -> find a PMC that 'manages' your investment, not destroy it with rentals. What I am saying is that a PMC's focus should be on management, not rental.
2) never ask a Property Management Company what they can do on rental for you. There is no answer to that question and any answer you will get is bogus. Before you enter the PMC office, scan their web site, take a few properties that are similar to yours and ask to SEE what they did on rentals last year.
3) a PMC that shows you their rack rate sheet and then explain they take 15-20% commission on those rates is great... but if they are not to be found on any Google search, then you can guess how many bookings you will get at that 'rack rate'... Most PMCs work with travelagents and a rule of thumb is that those rack rates are cut in half, minus their commission.
Hope this helps a little?
Discount Vacation Rentals Online works with a few dozen PMC that are screened by us. If you need help deciding or could use some suggestions, let me know?
Good Luck!
Peter
0 votes Thank Flag Link Sat Feb 27, 2010
Hello Julia,

Drop me a quick email, please include where your holiday home will be, bedrooms, purchase price, down payment amount, etc.
I can put together a return on investment spreadsheet for you.
0 votes Thank Flag Link Sun Jun 22, 2008
Hi Julia

It all depends what you classify as "running costs", but even so, you are wise to pay careful attention to this aspect of buying, to make sure no costs have been "forgotten" by over-enthusiastic sales people!

Based on my property management experience, I'm happy to give you an estimate, but please understand that costs can vary widely. With that caveat, I'd expect it to be around $1000 to $1100 per month . . . . that covers all expenses including property management fees, property taxes and insurance but: it doesn't include:

1. Maintenance - age of house and state of repair make this impossible to quote accurately.
2. Home owners association fees - the lowest I know of is $30 per month and the highest more that $1000.
3. Cleaning costs - varies with number of rentals.
4. Monthly loan payments

Hope that helps and good luck with your purchase.

Colin
0 votes Thank Flag Link Sun Jun 22, 2008
Hi,
This is a very rough estimate on utilities. I'm assuming that your electric bill will run you about $250 per month for 7months of the year. The other 5 months it could go as low as $140. Again it all depends on how low the temp is kepted on the central air unit. Pool maintenance $50 per month. Landscaping $80-$100 per month 7 or 8 months out of the year. Water bill $80-$100 per month - depending how much the lawn is watered. Cable bill? $60 minimum per month. if you have internet add from $15-$54 per month. This doesn't include Home association fees if applicable. Almost forgot, basic phone service is $25.00 per month.
0 votes Thank Flag Link Sun Jun 22, 2008
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