Homes in the World Golf Village are often perfect options for investment properties due to the surrounding tourist area. When it comes to golf retreats, there are few places more appealing than The World Golf Village.
This presents a unique tension for many local homeowners looking to sell. Is it more beneficial to sell your home outright or rent it as an investment property?
As you will see, renting your home instead of selling it can potentially net you some extra income. While this can be a great move financially, there are a few considerations you need to weigh carefully before you decide to commit to this strategy.
First, many World Golf Village homeowners love this area for the warm weather during the winter months. By renting your home instead of selling it, you give yourself the option to come back and enjoy the warm weather whenever you want. And should you ever decide to move back, you won’t have to start from scratch in order to buy a home.
Another important aspect to consider is the financial burden that comes with owning a second property for investment purposes. If the house is not paid off, are you able to front the mortgage for 2-3 months if there are no tenants? Also, as the property owner, you are responsible for the majority of the maintenance, taxes, and other obligations that come with the home.
A second strategy open to property investors is a rent and hold strategy where you rent the property with the intention of selling it in a few years for a nice profit. In 2017, the market showed an appreciation of homes in Florida of around 8.3% a year. This means that a home worth $100,000 in 2016 would be worth approximately $116,000 in 2018.
The appreciated value plus monthly rent checks make this a great opportunity for many homeowners. Living in a desirable area like The World Golf Village gives you the chance to execute a plan like this, as long as you have the financial stability to make it happen.