Home Buying in Davenport>Question Details

Jamie, Home Buyer in Orlando, FL

do area's zoned for short term (vacation) rentals lower property value?

Asked by Jamie, Orlando, FL Mon Jan 14, 2008

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Jamie:

It's all subjective. Many new communities around Davenport were created with the intention of being marketed and sold to investors for Short term use. They actually used to attempt to discourage full time residents from buying because they wanted to keep a standart of care ABOVE what residential neighborhoods will maintain. This communities often had higher HOA's to pay for landscaping, irrigation, electric gates, children play areas, community pools, etc. Many of those investors homes, have eventually been resold to residential buyers and those homes have held to their property value.

On the other side, many non-short term communities that are residential and have NO or Lower HOA's often start to get run down after a few years of being sold out. Some owners may have lots of pride in their home, while others allow it to look run down.

I have lived in a mix use community near Four Corners for 16 years. Over 50% of homes are still short-term use. We have a few not so nicely kept homes, but the mayority of the people still have pride in their homes and it shows. I love the fact that traffic is less, and it remains a quite place since not all homes are occupied constantly.

So the short answer, in my experience they seem to hold to value better.
0 votes Thank Flag Link Mon Jan 14, 2008
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