Home Buying in Orange Beach>Question Details

Tom L, Home Buyer in Orange Beach, AL

I would like to retire to Orange Beach AL in about three years. I want to buy a house now and rent it for the next 3 years.

Asked by Tom L, Orange Beach, AL Thu Jul 25, 2013

What is the rental market like?

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No, the KEY will be the LOAN you get to buy it with:
If you buy it as an Owner/Occupant, you will put less down and have a lower rate, but you will probably have a clause about being an Owner/Occ for at least two years: If you violate that clause, the consequences could be tremendous.
If you buy as an Investor, you will have to put at least 20% down and you will have a higher interest rate.
Consider all this.
0 votes Thank Flag Link Thu Jul 25, 2013
Our rental market is fabulous if you are renting, not so much if you need a nice rental. Very high demand here for rental units. I have sold several homes to people planning on retiring in 3-4 years, they wanted to buy when prices and interest rates were low. All have been very happy with the income they are deriving from their investment.
0 votes Thank Flag Link Sun Jul 28, 2013
I have worked with many buyers who, like you, are buying now for a retirement in a few years. The rental market is great in South Baldwin, whether you chose to rent your house long term or you opt for shorter terms so you can enjoy it some.

I have a great property search on my website (PortCityRealty.com) that you are welcome to use. It is a live search from the Baldwin Multiple Listing Service. You can search for properties for sale. You can also search for properties for rent to get an idea of the rental rates.
0 votes Thank Flag Link Sun Jul 28, 2013
Now is definitely the time to buy properties, whether to live in as an owner occupant or for investment purposes for the same basic reasons ... prices and interest rates are on the rise because there's not as much inventory as there was just a few months ago.

Please give me a call via my profile (click on my picture) so I can get the information necessary to see what's available that will fit your budget and overall goals. I can e-mail listing details and save the search criteria for automatic notifications so you stay on top of what's happening in this specific market. People are competing for what they want again, so getting immediate updates can make the difference in having a chance at what you want or missing out completely.

I'd be honored to assist you in any way I can.
0 votes Thank Flag Link Thu Jul 25, 2013
The rental market is hot! It is difficult to find a good home to rent on a long term basis in Orange Beach.
The key will be the selection of the home you want to retire in, will it be the home that also makes the best rental? If you select a brick home on slab, 3 or 4 bedrooms with at least 2 baths valued between $140,000 to $275,000, then you should will be able to rent it quickly with a good rental rate.
0 votes Thank Flag Link Thu Jul 25, 2013
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