1 Everyone involved in selling properties on a development site has only one loyalty – to the developer. Realtors receive strong financial incentives to sell not only properties, but also expensive extras – and may even get paid extra for selling the least attractive plots. This is not a buyer-friendly environment.
2 Watch out for developments designed specifically for short-term rentals that have been built specifically with a “sell to the Brits” sales model in mind. These properties can be dressed up to look like an attractive proposition to a foreign buyer, but they may be a very poor candidate for resale. Local families are unlikely to want to live next to rental properties with a constant flow of holidaymakers moving in and out.
3 Don’t buy a property on a development thinking that your home will look like the showhouse. A Florida show home is more like the cars they show in the TV ads – metallic paint, air conditioning, alloy wheels and a whole range of extras that can add 30 per cent or more to the price.
4 Never buy from a developer without a proven track record in the area and whose work you can go and take a look at.
5 Always take independent financial and legal advice.
Good advice to anyone buying anywhere. For Florida read Spain,Morroco,Bulgaria, Santo Domingo, Brazil and any other so called “hot spot”. Safer to stay with the “G” spot.
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