The benefits of owning a vacation rental home as a real estate investment in Orlando
Everyone dreams about owning a second home in Orlando. But not many people fully understand all of the incredible benefits it can bring. Not only does owning a second home offer huge income-generating potential, it can also mean massive tax deductions, travel expense write-offs, and home value appreciation. It can even be a way to stay in thousands of luxury homes around the world – for free!
All of this and more can be yours just by buying a second home in Orlando that you and your family are going to love using time and time again.
Read on to find out more about the many benefits of owning a second home as a real estate investment in Orlando.
Why you should buy a second home in Orlando
1. You can use the home yourself and rent it out when you like
Wouldn’t it be nice to own a second home, stay in it whenever you like, and get paid for doing so? Well, now you can! When you buy a second home as a rental investment in Orlando, you and your loved ones can use the home whenever you like, then use it to generate income by booking out your empty weeks to guests who want to stay near Disney World.
2. Disney World is on your doorstep
Disney World typically lures people to Orlando for the first time – then the endless fun and year-round sunshine keeps them coming back year after year. Now you can own a vacation home that is in the heart of it all. You’ll be close to all of the attractions, shopping malls, restaurants, beaches, and more, yet secluded enough in your own resort to give you the peace and tranquility you need on vacation.
3. Stress-free ownership – You don’t have to lift a finger
It’s your house so feel free to get involved in the day-to-day operations such as managing, marketing, and speaking with guests. Or just like 99% of our owners, leave it all up to us to deal with. Orlando is very advanced when it comes to vacation rentals with many companies specializing in making owning a home as stress-free and easy as possible.
Top Villas works with Orlando’s leading property managers who will take care of the day-to-day running of your home, and we will take care of all your marketing, guest relations and scheduling any maintenance on your home. This means all you have to do is relax and find the time to come and use your vacation home whenever you wish.
4. You’ll generate rental income
Orlando is now the largest tourist destination in the world, attracting over 80 million visitors a year. Add to that the fact that vacation rentals in the area have now overtaken hotels in terms of revenue for the county, and you’ll see that owning a second home in Orlando is a no-brainer.
Most of our owners use their homes for several weeks throughout the year and book out their spare weeks to high paying guests.
5. You can get tax deductions
Owning a vacation rental property is not only an amazing asset but it can also provide you with unbelievable tax deductions if you operate it in the right way. Just like any business, you can write off certain expenses, so make sure you run your home like its own business and take full advantage of all the tax-saving benefits.
Deduct 100% of your furnishing and upgrade costs
Under the new tax rule, the IRS allows you to deduct 100% off any appliances, furniture, and home improvements all in the first year of owning your vacation home.
You can also receive tax relief on:
- Mortgage interest
- Travel and transportation
- Credit card and loan interest
- Property taxes
- Insurance
6. Stay in homes around the world – for free!
Top Villas has partnered with the world’s leading vacation home exchange company, Third Home which enables homeowners to enjoy free stays around the world. By simply owning a second home you can take part in the program and ‘exchange’ empty weeks in your calendar for special ‘keys’ credits. Save up your credits and can exchange them for stays in a choice of thousands of luxury properties around the world.
The best part is, you don’t even need to give up any weeks in your home if you are available to stay within 6 weeks. Top Villas has an exclusive deal where we have taken care of the membership, normally a $2500 initiation fee. To take advantage of this deal or to learn more see – Learn more about Third Home.
7. Build value through appreciation
By buying a second home in Orlando, not only will you own an amazing second home that you can use whenever you like, but you will also be generating a great income each week from renting out your empty weeks. As if this wasn’t enough, buying a second home is a fantastic estate investment, with prices appreciating over time.
Owning and holding a home for the long term generally leads to an excellent appreciation. When you find it’s time to sell your home you can typically sell it at a higher price leaving a nice profit for you. To fully capitalize and maximize what the home appreciation is, it’s always recommended to make some modifications and home improvements – this is known as forced appreciation.
8. Selling your home is easy
With so many people moving to and visiting Orlando, nice homes here are always in hot demand. So as long as you have taken our advice and purchased the right home, it will be easy to sell when it comes to it. Guided by our expert advice, you should always be able to sell your home quickly and for a good profit.
Conclusion
As we have shown there are plenty of benefits, aside from just generating revenue, to owning a short-term vacation home here in Orlando, Florida. With its ever-growing popularity, we hope our existing owners take full advantage of all of the ways to maximize your home’s potential. If you are interested in learning more about how to maximise your vacation rental income, please take a look at our guide here.
