Selling your Orlando Home

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4 Hidden Costs of Selling your US Home

Whether you’re looking to relocate, downsize or upgrade to a larger space, selling a home can be a stressful and surprisingly expensive process. You’re probably aware that if you use a Realtor, you’ll pay a 5% to 6% commission on your home’s sale price. But there are some other costs that might creep up on you.

Real Estate Transfer Taxes

You’d think that paying for and owning a home would give you the right to sell it with no strings attached, but alas, that’s not the case.

When you sell a home, your state, county or municipality may want a piece of the action – and what better way to generate extra revenue than to impose a real estate transfer tax? While the amount you pay will vary based on where you live, tax rates typically range from 0.01% of your home’s sale price (as in Colorado) to 4% (roughly what you’ll pay in Pittsburgh). In Florida, for example, you’ll pay about $2,100 in transfer taxes when you sell a $300,000 property.

On the bright side, it’s common for the buyer and seller to split this cost. Just make sure you know how much you’ll end up paying.

Capital Gains Taxes

Though it’s somewhat rare, depending on your circumstances, you may be subject to capital gains taxes if you sell your home for a significant profit. What helps most people avoid these taxes is the ability to exclude up to $250,000 in gains for a single filer and up to $500,000 in gains for those married filing jointly.

There’s a catch, though: To claim the exclusion in its entirety, the property in question must have been your primary home, and you must have lived in it for at least two out of the five years leading up to the sale date. Also, if you claimed another home sale exclusion in the previous two years, you generally won’t be eligible for another one. On the other hand, you can deduct selling costs, such as Realtor fees, to lower your capital gains for tax purposes.

Home Staging Costs

Though it’s not a must, home staging can help you attract buyers and move your home off the market more quickly.

The downside? Sprucing up your home costs money. Sellers these days spend $1,800 on average to stage a home, and while you may recoup some or all of that money by commanding a higher asking price, it’s a cost you should be prepared to absorb up front.

Thankfully, you can save money on staging costs by doing some of the work yourself as opposed to hiring a professional stager. The Internet is loaded with tips on how to stage homes on a budget, from adding decorative curtains and rugs to applying fresh paint as needed.

Certificate of Occupancy

In some localities, in order to sell a home, the seller must obtain a certificate of occupancy stating that the property in question is safe and suitable for residence.

While the fee for the certificate itself might be as little as $50, some cities and towns have specific criteria that must be met before a home can receive one. Generally, a municipal representative performs an on-site inspection to see if a home complies with updated building codes.

If yours doesn’t, you may need to make some last-minute adjustments or repairs to get your home up to code, and the more involved the work, the more you’re likely to pay. Updating your kitchen’s outlets, for example, could cost several hundred dollars if you need to get an electrician involved.

If you’re enlisting the help of a realtor to sell your home, ask yours to walk you through the potential costs you might encounter in the process. That way, you won’t be quite as horror-struck when those potential expenses begin to add up.

Bill’s Bit

Over 30 Years ……..!

That’s how long The British Homes Group has been helping our UK clientele sell their holiday homes in Florida – over 10,000 potential buyers read our “Florida” newsletter every issue!

Can we help you sell your villa this year?

Or invest in another sunny Orlando villa or income property (e.g. Buy-To-Let) – over 20,000 to choose from in the Disney area alone!

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For more information please contact British Homes Group today on +1 407 396 9914 or visit www.britishhomesgroup.com

Orlando Florida, USA

www.BuyToLetHomes.com | www.BritishHomesGroup.com

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Serving UK and International Villa Owners and Property Investors in the Walt Disney Area of Central Florida For Over 30 Years!

Lake Buena Vista Resort and Spa

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Lake Buena Vista Resort News

Occupancy at the Lake Buena Vista Resort continues to surpass the previous year for the 7th consecutive month of year-over-year improvement. This March they had 89.6% occupancy compared to 84.7% in March 2015. The year-to-date occupancy is at 83.5%.

Lake Buena Vista Resort is centrally located just over a mile from Walt Disney World and minutes to Universal Studios and SeaWorld. The spacious 2, 3, and 4 bedroom, fully-furnished condos will make you feel right at home.

Walt Disney World Epcot’s “Sounds Like Summer” concert series starts June 5th. During this seven week event, bands will pay tribute to the music of Fleetwood Mac, Tina Turner, and Bruce Springsteen just to name a few. Animal Kingdom’s “Flights of Wonder” is being refurbished and is scheduled to reopen April 17th.

Universal Orlando celebrates high school grads with their annual “Grad Bash”. This is an amazing party with music, dancing and adventures. Seniors can enjoy the park’s rides and attractions plus a live concert. Check for reservations on select nights through April 29th. Middle school grads can celebrate with their friends at “Gradventure” held at Universal May 20th. They can enjoy both theme parks, DJ dance parties, karaoke, and street entertainment.

SeaWorld’s much anticipated Mako hyper coaster will make its debut on June 10, 2016.  Mako will be the tallest, fastest and longest coaster in Orlando. Riders will soar 200 feet high and reach speeds of up to 73 mph.  Park educators will answer questions and visitors will learn about the dangers to manatee in the wild such as boat strikes, cold stress and entanglement.

Recently, the Lake Buena Vista team hosted the British/American Chamber of Commerce annual event at our Resort. There were a record number of attendees. Over 75 professionals enjoyed an evening of networking with developers, mortgage brokers, lenders, insurance agents, real estate brokers and attorneys.

The main topics revolved around international tax laws, insurance needs, and EB-5 opportunities. Investments for international buyers were a popular subject for many.

According to the Orlando Regional REALTOR® Association, April is the start of Orlando’s home buying season. March 2016’s low inventory pushed home prices up 10% from March 2015 and the median price is up 5.41% compared to February 2016. The median price of condos increased 16.56% compared to March 2015.

You might also like to know that for a limited time, the Resort Developers are offering buyers two options when you purchase a condo-hotel unit at the award-winning Resort.

  • Seller Financing – Pay 30% down and enjoy 5% interest for 5 years (amortized for 30 years) and no points.
  • Lease Back – If you prefer a certain return, lease the condo back to the Developer and enjoy a 6% return for 2 years in addition to the use of your condo for up to 2 weeks per year.

When you are not using your condo, management can rent it out for you (see occupancy rates above) and this will help off-set your expenses. The superb location, excellent amenities, award-winning reputation and high occupancy rate makes this is a great investment and a wonderful place to stay.

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For more information please contact British Homes Group today on +1 407 396 9914 or visit www.britishhomesgroup.com

Orlando Florida, USA

www.BuyToLetHomes.com | www.BritishHomesGroup.com

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Serving UK and International Villa Owners and Property Investors in the Walt Disney Area of Central Florida For Over 30 Years!

January Property of the Month

BRITISH HOMES GROUP Florida ~ Specialising in Florida Real Estate

Orlando | Kissimmee | Davenport | Windermere | Bay Hill | Clermont

Residential Luxury ~ Vacation Paradise

New British Homes “Best Buy” Listing!

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Live life even better at Legacy Park, the community you will want to call home!

Request more information on homes for sale around Orlando or submit a Custom Property Search Request

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The BRITISH HOMES GROUP Florida
Offices in Kissimmee and Davenport

November Property of the Month

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Legacy Park

Legacy Park by Park Square Homes is a beautiful, single family home community located in Kissimmee.  This gated community offers spacious floor plans ranging from 1,811 square feet up to 3,075 square feet with prices starting in the low $200’s.  Conveniently located just minutes from Florida’s turnpike and Highway 192, you can spend less time commuting and more time living.

Enjoy all Legacy Park has offer including amenities such as a community pool and cabana.  If recreation is what you seek, look no further than Lake Front Park located on East Lake Tohopekaliga, a mere 5 minutes away!   Lake Front Park has so much to enjoy such as picnic areas, boat ramp, splash pad, fishing pier, marina with boat-slip rentals, bike paths and playground.

Live life even better at Legacy Park, the community you will want to call home!

Request more information on homes for sale around Orlando or submit a Custom Property Search Request

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The BRITISH HOMES GROUP Florida
Offices in Kissimmee and Davenport

Info@britishhomesgroup.com or (+1) 407 396 9914

Septembers Hot Property

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Great opportunity for buy-to-let and property investment portfolios.

5 Years guaranteed rental programme, 5 Years HOA Fees paid and a Developer Contribution towards Closing Costs.

Visit us at www.buytolethomes.com for more information or contact us below.

We will guide you through the process from beginning to end including;

  • Which of the four counties (Orange, Lake, Polk or Osceola) allow Short Term Rentals
  • What Communities have “Lease-Back” programmes
  • The best locations for Long Term rentals
  • What is a condo-hotel and what are their benefits
  • Resort Style Communities and their appeal to Renters
  • The best locations for Boating and enjoying the water
  • Developer Specials and Purchase Incentives
  • Buy To Let and International Buyer Mortgage Options

Have a question or would like more information? Please email us below.

The development is called Rosemont Woods and they are doing a June Special on the Genoa Model Home.

Genoa Model

  • 4 Bedrooms
  • 4 Bathrooms
  • 2129 sq. ft.

5 years of Home Owners Associations Fees paid at closing and 5 Year Rental Programme!!

Below is a link to a walk through video.

https://www.youtube.com/watch?v=9lq7ZGHkLig

Below is a link to a video that shows the community Providence:

Rosemont Woods is currently the only planned vacation home section within a gated golf community called Providence Golf Club.

It is located 15 minutes from Walt Disney World.

  • Turn-key furniture package included with home
  • Can close in as little as 2 weeks
  • Comes fully furnished
  • 5 years of fixed rental income in place

Please let us know if you would like more information on this Home and we will send you additional images and information about this exciting and sensible villa ownership and Rental income programme.

But please act quickly as, understandable, inventory and availability is extremely limited.

Good luck!

Request more information on homes for sale around Orlando or submit a Custom Property Search Request

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The BRITISH HOMES GROUP Florida
Offices in Kissimmee and Davenport

Info@britishhomesgroup.com or (+1) 407 396 9914

Kissimmee – one of the top places to buy a vacation home

Kissimmee, (Osceola County) was ranked No. 3 among MarketWatch’s recent 10 best places to buy a vacation home.

However – unlike the rest of the homes on MarketWatch’s list – most of the vacation homes sold in Kissimmee are investment properties rather than second homes.

The median asking price for a vacation home in Kissimmee is currently $298,800 – up 34.8 percent from the median home price during the same time last year, according to MarketWatch.

Kissimmee was the highest ranked of the three cities in Florida to make the list.

Marco Island came in at No. 5 and
Panama City Beach was ranked No. 8.

More good news for Central Florida villa owners!

And the price is still right!

Thinking of buying or selling a home is the Kissimmee area? Contact us today.

Best!

Bill Cowie

Please email or call for more information on this home.

Request more information on Florida homes or submit a Custom Property Search Request

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The BRITISH HOMES GROUP Florida
2960 Vineland Road | Info@britishhomesgroup.com or (+1) 407 396 9914

List Your Vacation Home For Sale with British Homes Group

From today’s ORLANDO SENTINEL…another press report on the rebounding Orlando housing market in 2013.

A great time to buy ……. and sell!

Demand for resale homes in the Orlando area outstripped the supply so much in April that more than a quarter of the properties sold for more than their asking price, according to the Orlando Regional Realtor Association.

The median price of last month’s existing-home sales reached $145,000 – an increase of 24 percent from a year earlier and the biggest 12-month increase since January 2006, near the height of the homebuying frenzy.

The percentage of houses selling for more than their list price was high a year ago but was even higher in April:

A year ago, 22 percent of the core market’s 2,436 resales went for prices that exceeded what was asked for in the listing;
last month, more than 26 percent of the 2,689 closings went for more than the asking price, the Orlando Realtor group reported Wednesday.

The current sellers’ market has left buyers with so little room to negotiate that sales prices overall were 96.85 percent of the asking price in April – their slimmest margin since March 2006, according to the Orlando Realtors report.

Helping power the sellers’ market is a 2.68-month supply of listings – less than half what is considered healthy for a market in balance. Homes that sold had been on the market an average of 76 days before coming under contract in April; a year ago, they had spent 87 days on the market.

Bill’s Bit

Why not let the BRITISH HOMES GROUP help you sell (“list”) your Florida villa quickly?

Thousands of our clientele in the UK and around the world are actively looking to invest in their very own place in the Florida Sun – right now!

Happy Listing!

Bill Cowie

Please email or call us for more information on buying or selling a home in Orange, Lake, Osceola or Lake County.

Request more information or submit a Custom Property Search Request

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The BRITISH HOMES GROUP Florida
2960 Vineland Road | Info@britishhomesgroup.com or (+1) 407 396 9914