rent or buy in DT orlando? (Waverly: renter, HOA fees, buying)

[jess3]

I was looking at the Grande DT Orlando, Solaire, Paramount, and 101 Eola to rent a place, but now I'm considering buying the place. I want to invest my money and thought it might be a good idea. Any recommendations or thoughts? Should I just rent instead of buying? is it a dumb move? I've only been in orlando for 2 months and can't tell how it'll be during hurricane season or when i move out (how to rent my place out.. etc)

[WithDisp]

It's a question on a lot of minds.

The time to buy downtown was 2-3 years ago. The prices have generally doubled since then and nearly returned to their 2008 highs.

Know you wont be able to finance at the Grande (typically). The others should be financeable for the most part, but it's really a question then on what you can afford.

I don't see downtown dropping in value, but I also don't see rents increasing on account they're alright quite high for the median income in the area.

Either or if you plan on living there for a few years you're probably best of owning.

[bmw335xi]

Originally Posted by jess3

I was looking at the Grande DT Orlando, Solaire, Paramount, and 101 Eola to rent a place, but now I'm considering buying the place. I want to invest my money and thought it might be a good idea. Any recommendations or thoughts? Should I just rent instead of buying? is it a dumb move? I've only been in orlando for 2 months and can't tell how it'll be during hurricane season or when i move out (how to rent my place out.. etc)

Make sure you check to see what the ratio is between owners and renters. If there is more than 25% renters, I would not buy because non-owners don't care about HOA fees, they don't care about maintaining the community areas etc. I almost bought a unit with a high renter ratio, but I decided to rent a unit first and I am so glad I did. If people don't own it, they don't give a _____ about it.

[VTGal]

Originally Posted by jess3

I've only been in orlando for 2 months and can't tell how it'll be during hurricane season or when i move out (how to rent my place out.. etc)

You've only been here 2 months, I say rent.

[AONE]

I am amazed at the prices downtown, they make me cringe. It also makes me wonder if they can sustain those prices. So many are rented out I think as a means to stabilize the prices. There really are not a glut of places on the market.
I was always fond of the Paramount. The Waverly has a nice location but paper thin walls. I've heard the Vue is loaded with renters. as is West 55 and Solaire. They do seem to be well kept though. With the rents as high as they are I'm not sure I'd want to though that much in that black hole.