buying a home w/ Orlando -- questions (Altamonte Springs, Winter Springs: mortgage, environment)

[agmnim]

Hello,

I'm a young professional living in New York (renting) but have decided to purchase a second home in the Orlando area. Buying a home in New York is still very difficult. The weather and relatively affordable housing prices in Orlando also played a large part in my decision. Though I don't plan to move down immediately, I hope this purchase will give me some options a few years from now when I may want to leave NY.

I am trying to avoid areas that are zoned for short term rentals as I would prefer a more residential feel if and when I do move. I am however open to new developments, particularly those that have an environmentally friendly aspect to them. My price range is in the 250k area and I would like to be within 30mins of the Orlando city center.

I would much appreciate suggestions on areas/developments that offer a friendly neighborhood feel. Gated communities would be a plus. The properties I've been looking at so far include locations in Hunter's Creek, Cypress Springs, Claremont, and Lake Mary. Any comments on those locations would again be much appreciated.

[GregTraub]

Out of those 4 I'd vote Cypress Springs and Lake Mary, though Hunter's creek and Cypress Springs are the only tow area's I'd say are within 30 minutes of Downtown Orlando in light traffic.

As far as friendly neighborhood feel, plus gated community.....I guess that would depend on what your definition of Neighborhood feel is. For that price range, and single family homes, I'd also check out Avalon Park and Waterford Lakes area (32828 Zip), Winter Springs, Oviedo, and maybe Casselberry depending. I'll send you some quick searches of re-sale homes in some of the area's tomorrow. There are also a ton of new home builders that are offering great deals nowadays in all the area's mentioned above.

Unfortunately there isn't much "green" building here in CFL, I would appreciate such properties too, but no one seems to have green in mind when building here.

What were you planning on doing with the home while you live in NY? Just leave it vacant, rent it? Either way where you considering townhomes for less maintenance or just Single family?

[OTownHelper12]

Well Lake Mary is a great place to live but I would say about 45 mins to downtown orlando most times of the day. Hunters Creek might be a doable area as there are plenty of gated communities there and you could probably get into a nice place in your price range on a short sale or bank owned property. There is also newer construction in Hunters Creek area.

Clermont will probably be too far. As is Avalon Park and Waterford Lakes.

There is some nice new construction near 417 in Oviedo / Tuskawilla also a few nice enclosed communities in South East Orlando.

Although, for maintenance reasons you might prefer a short term rental property or townhomes. A short term rental would be maintained by the leasing / management company and you can use the income to offset your monthly ownership costs and have a fully furnished well maintained home when you come to visit. When you move in for good paint and bring your furniture.

But if you would like more stable neighbors then a townhome would be a good choice and there are some new townhomes near the airport and in the Hunters Creek area.

[agmnim]

Thanks for the responses.

Greg -- Its too bad green building isn't more of a priority, theres a growing demographic like myself who would gladly pay a premium for a more environmental friendly home.

Though I have no plans to immediately rent the house while I'm in NY, I am planning to do so for at least part of the next few years. However, I am not considering townhouses as having a personal backyard etc. is important for me.

I noted you qualified your response to the 4 areas I mentioned -- are there any more you are aware of that might fit my considerations?

Thanks.

Originally Posted by GregTraub

Out of those 4 I'd vote Cypress Springs and Lake Mary, though Hunter's creek and Cypress Springs are the only tow area's I'd say are within 30 minutes of Downtown Orlando in light traffic.

As far as friendly neighborhood feel, plus gated community.....I guess that would depend on what your definition of Neighborhood feel is. For that price range, and single family homes, I'd also check out Avalon Park and Waterford Lakes area (32828 Zip), Winter Springs, Oviedo, and maybe Casselberry depending. I'll send you some quick searches of re-sale homes in some of the area's tomorrow. There are also a ton of new home builders that are offering great deals nowadays in all the area's mentioned above.

Unfortunately there isn't much "green" building here in CFL, I would appreciate such properties too, but no one seems to have green in mind when building here.

What were you planning on doing with the home while you live in NY? Just leave it vacant, rent it? Either way where you considering townhomes for less maintenance or just Single family?

[beckycat]

I'd say Lake Mary. I live here and it takes me about 20-25 minutes to get downtown when there isn't traffic. (Yes there are times w/o traffic) It has all the conveniences of restaurants, stores, movies, mall, parks, trails and more. Not to mention, it takes about 45 minutes to get to the beach and 45 minutes to Disney. We are conveniently located to I-4 and 417.

[OTownHelper12]

I hear that there was some Green housing planned in Apopka.
I don't have any details....this is something that I would have to
research for you. Parts of Apopka have seen quite a bit of new construction
over the past 4 years. I would say during rush hours its about 45 mins to downtown
orlando...30 minutes during off hours.

[agmnim]

Thanks for the responses. I looked at some new developments in Clermont and really liked the area. The developer is unwilling to negotiate on the selling price but already agreed to throw in closing costs and appliance. Any suggestions for other amenities/concessions to bargain for? Also, what are your thoughts on Claremont? I liked the fact that many parts of it are still largely undeveloped and geography somewhat atypical for CFL.

[OTownHelper12]

Well personally I like to have everything close to me since I grew up in Lower Westchester. I don't like Clermont because it is away from everything in my opinion.

Are you buying a move in ready home or new construction? If the home is already built
negotiate the price...if new construction get all of the amenities that they offer for free or at a steep discount. Amenities vary from project to project so I don't know what is offered.

Also, ask for an interest rate buydown.....if you should decide to change your mind and go to another builder.....find a real estate agent in the area that you are looking.
Always, use a buyers agent when dealing with the builder. Preferably one who sells mostly new construction. There are different concerns when closing on new construction then with general real estate. Also, it doesn't cost you more for the house to have a representative of your own.

[Fun2Hug]

Lake Mary, Longwood and Altamonte Springs are good areas with easy access to major highways. If you are considering renting the property, you may want to look in the Waterford Lakes area near UCF. I am a mortgage Banker and Financial Strategist and work with many of the top real estate agents in the area, so if you need a referral, I would be happy to recommend someone.

[college_girl16]

hi am thinking of moving to us from uk and have no clue where in america i wanna live in if anyone has any info on price ranges or any general advice then plz email much easier!!!