Brent Ferry

Hi John, generally speaking you could rent out in Celebration for longer terms such as you ask, but short term (nightly) rental is not allowed there. As Bill suggests, it may not be as easy as one would think to find a longer term tenant especially for the exact dates/months you want to accommodate your personal usage. I agree that it would also be important to carefully review the HOA (Home Owners Association) documents as Celebration is well regulated.

As a ballpark figure, I'd say a 1 bedroom in Celebration might get about $1,000 per month in rental. How important is the rental income to you? Would you be counting on it or would this be primarily a second home with rental not so important?

For those wanting/needing consistent rental, many often find the area in Kissimmee surrounding Celebration a more viable option. The immediate area actually shares the same zip code - 34747 - but unlike Celebration most of the communities are approved for short term rental. Currently, you can get a 2 or 3 bedroom condo for what is probably the same price as the 1 bedroom you looked at on Water Street. They would be larger too of course. And considering you'd be able to bring in around $75 to $175 per night depending on season you should easily surpass the $1,000 per month with just 50% occupancy. Further, with Disney so close, I personally believe it is easier to find short term renters than a long term one. Consider too that for $1,000 per month a long term renter can get a larger unit outside of Celebration.

All that being said, certainly I would agree that Celebration holds a lot of appeal. It would be hard to duplicate the reasons which I suspect attracted you to the community outside of its borders.

As far as costs associated with short or long term rental as well as buying a property in the US, I'd be happy to discuss these with you if you want to contact me through my Trulia profile.

Best regards,

Brent Ferry
International Drive Realty Orlando - Fri Oct 3 2008, 07:23

Hi John,

I have details on two discounted inventory homes at Windsor Hills near Mystic Dunes - a good opportunity to get a new home and quality rental property at a reduced price. Let me know if you’d like the info by sending an e-mail through my Trulia profile.

Brent - Thu Sep 25 2008, 06:07

Hi John,

As I wrote in reply to your other post regarding the Mystic Dunes area, Windsor Hills would be recommendable. It is the only opportunity for single family homes that close to Disney and along Old Lake Wilson Road. The communities boarder one another with Windsor Hills being further North and closer to Disney.

There is an HOA in Windsor Hills which is approximately $350 per month and includes among other things the extensive community amenities, 24 hour guard gated access, lawn care, porter trash removal, and basic cable television.

Personally, I do not think proximity to Mystic Dunes is an issue if it is rental that you are worried about. Like you in your purchasing preferences, many guest prefer the single family homes with private villas over smaller time-shares or condos. If anything, I find Mystic Dunes a benefit giving guests at Windsor Hills a nearby opportunity for golf.

I'd be happy to help you with a purchase in Windsor Hills - new or resale - and can also offer reliable rental/management there. I do have a listing here on Trulia for a 5 bed / 5 bath home in Windsor Hills. It is fully furnished, has a south facing pool, and is very close to the clubhouse. Here is the link: http://www.trulia.com/property/1063747694-7734-Comrow-St-Kis…

I'd also be happy to look more closely at some estimated Windsor Hills' figures with you if you'd like to contact me through my Trulia profile. This should help alleviate your concerns about the competing communities in the area. - Thu Aug 21 2008, 11:15

Hi Alessandro, wanting to let you know that KB Homes (Compass Bay) is holding a “Purchase Power Weekend” sales event starting tomorrow. This is a good opportunity to get one of their new townhomes at a reduced price. Let me know if you’d like the details by sending an e-mail through my Trulia profile.

Brent - Thu Sep 25 2008, 06:04

Khayker I know I addressed your question regarding electric, water, etc. while corresponding with you in private on another matter, but I wanted to post my answer here in case there are others out there wondering the same.

Please know that while choice of Management Company is totally up to you, certain utilities will be dictated by service area so there won’t be any choice in the matter. KUA (Kissimmee Utility Authority) does water, electric, and sewer in Compass Bay. You might want to check with your Management Company (once you choose one) on things like phone/internet service as they may have requirements for you. For example, one might require you to have free long distance, one might want you to have local or emergency service only, others might not care. You should get info on transferring utilities from KB Home at closing. If you’ve contracted a Management Company by that time, I’d ask them to help you set this up – that’s what they’re there for.

Brent Ferry
International Drive Realty Orlando - Mon Aug 11 2008, 08:18

Hi Alessandro,

I hope your own friend's decision and the two positive buyer replies here offer you some reassurance about this community and Builder.

I would agree that what KB Home is offering at Compass Bay, especially for a brand new warranted unit in such close proximity to Disney, is an exceptional value.

192 is the main tourist area in Kissimmee. The best and closest vacation homes to Disney are in close proximity to it so I would view that aspect as a positive not a negative.

Regarding language, according to U.S. Census data, a certain percentage of persons in Kissimmee do report Hispanic or Latino origin. I find your English rather good and do not think you would encounter any language barriers.

You can probably find negative comments on every Builder somewhere on the internet. In truth, all must meet the same minimal building codes. As Eric suggests, a new product in Compass Bay would be far better than many other (older) locations in terms of quality. KB Home was ranked #1 homebuilder in Fortune Magazine's 2008 list of America's most admired companies. Customer service is half the battle and you have two very positive comments here (plus me is three) regarding the helpfulness of the sales staff.

Overall, a good deal in my opinion.

We would be happy to work with you on a purchase in Compass Bay.

Brent Ferry
International Drive Realty Orlando - Sun Aug 10 2008, 07:35

Hi Terje,

I have details on two discounted inventory homes at Windsor Hills. Both are 5 beds, but different models. This would be a good opportunity to get a new home and quality rental property at a reduced price. Let me know if you’d like the info by sending an e-mail through my Trulia profile.

Brent - Thu Sep 25 2008, 06:02

You're welcome Terje,

I have an estimated expense sheet I can send on the Windsor Hills homes if you want to shoot me an e-mail at brent@bferryhomes.com I can forward it - it's an attachment. I'd be happy to address your other questions/comments in my e-mail as well.

I can answer some here. Yes, the Windsor Hills homes do cost more, but, as I said, I think it is possible to make up for this through rental. I have a reliable Management Company/Rental Company who can get the numbers I used so it is definately possible to get very good rentals there. (I can send links to their calendars.) For your information, the advertised base price on the new construction Windsor Hills homes is $490,000 and change depending on model. A REALTOR can help you get a much better price and additional incentives (like closing cost contribution, no HOA for a period, etc.) Resales can be found from the low $400s. The Windsor Hills pool can get crowded, but I think it is a positive sign that people are renting there and also reaffirms that you are in a popular and exciting place. They have 320 condo which must rely only on the resort pool. All townhomes and villas have private pool as well as access to the community amenities. Based on the site map, Paradise Palms plans 664 units - no small number...you will have the same type of potential for crowdedness and, like Windsor Hills, there will also be a lot of rentals out there when all is said and done...

Drop me an e-mail and we can talk more. - Brent - Sun Aug 10 2008, 12:38

Hi Terje,

It sounds like your decision is already made! If you are looking for reassurance, I think Paradise Palms is a fine choice given your criteria. It is certainly a very impressive community, and one that we promote.

That being said, I feel obliged to tell you that if someone came to me saying they wanted a 5 bed vacation home investment in a resort community my first though would be Windsor Hills. Paradise Palms would not even come to mind. It sounds like you have come across Windsor Hills and given it some consideration. I would encourage you to revisit the idea and make further comparison before moving forward.

We have a 5 bed Windsor Hills listing here on Trulia which you can look at as a sample for comparison. It is fully furnished, has a south facing pool, and is very close to the clubhouse. New construction is also available. http://www.trulia.com/property/1063747694-7734-Comrow-St-Kis…

To start, Windsor Hills is just 2 miles to World Drive/Disney compared to about 5 for Paradise Palms. This doesn't sound like much, but on a heavily traveled road (192) and with many competing vacation home communities in between (as well as being closer to the highway, airport, and attractions other than Disney) Windsor Hills is a far superior location.

Windsor Hills 5 beds have 5 baths compared to 4 at Paradise Palms. This can make a difference with rental.

Windsor Hills has 2 floor plans to choose from compared to just 1 at Paradise Palms.

Both Windsor Hills plans have more living space (sq. ft.) than Paradise Palms.

Windsor Hills homes are detached. Paradise Palms townhomes are attached. Although this doesn't make a difference to you, this will make a difference for many renters due to perceived privacy and noise factors (whether they be true or not, it is a perception).

Likewise, although you may prefer the community pool over the pool at the home, most renters want the private pool and this is one of the reasons why detached single family pool home book further in advance and for longer stays than townhomes or condos.

Windsor Hills' HOA is less than Paradise Palms' at about $350 per month (paid quarterly). Since you specifically mention playgrounds, I'd say Windsor Hills is better, but both communities do have exceptional amenities - the best around. Due to your concerns about Paradise Palms' fees potentially increasing, please know that Windsor Hills' HOA actually went slightly down this year. The HOA is already turned over from the Builder. Also, due to your concerns about exterior maintenance, please know that the Windsor Hills' fee does include lawn care. Please know that the fact that the Paradise Palms' fee may account for things like future exterior painting or roof replacement does not necessarily mean that you won't have to carry an exterior insurance policy same are you would with a Windsor Hills home. Nor does it mean that they will replace/fix these things when you want them too like you could with a home.

Is the reason you've dismissed Windsor Hills due to price? Is it still an option? I don't condone overstretching yourself or spending more than you can afford, but, if one can afford it, often higher prices can be justified though greater location and rental potential. In example, compare your calculations of $149 per night (before Management Company cut?) and 20 weeks minimum at Paradise Palms with the proven potential at Windsor Hills. For a 5 bed, you should be able to get at least $150 per night (all to you) at what should easily be 30 - 40 weeks worth of nightly rental. Let’s assume 35 weeks for this example. $150 x 7 x 15 weeks more than your Paradise Palms' minimum = $15,750. That amount more per year would cover a monthly principal and interest payment for over $200,000 in loans.

I'd be happy to look more closely at some estimated Windsor Hills' figures with you so you can better evaluate if it is a financially good investment for you.

Also, if you are coming in November, I'd encourage looking at both communities, and would be happy to tour these with you. As some of the others have written, working with a REALTOR to purchase a property costs you nothing and can save you lots.

Just wanted to provide you with some more info. so you can make an educated decision. Please let me know if we can provide further assistance.

Brent Ferry
International Drive Realty Orlando - Sun Aug 10 2008, 10:22

Hi Carmen,

Ad valorem taxes are based on the assesed value of the home as determined each year by the County Property Appraiser's Office. To calculate the tax, the assessed property value is multiplied by the millage rate which is set by various taxing authorities. There are many factors in play so, as you pointed out, similar homes in the same neighborhood can have different tax amounts even if the homes are the same exact floor plan or model. For example, if one owner has a homestead exemption and one does not, if the homes were built in different years or purchased at different prices, if one has a screened porch and one doesn't, if one has a larger lot size than the other, etc. You may also be seeing differences if one home is within the city limits and another outside, or if the home you are comparing is outside of Orlando/Orange County and actually in Osceola County for example.

Orange County Property Appraiser - http://www.ocpafl.org/
Orange County Tax Collector - http://www.octaxcol.com/

Brent Ferry
International Drive Realty Orlando - Sat Aug 30 2008, 11:20