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Old 11-27-2019, 10:35 AM   #11
suejen
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Itís so interesting that you just posted this.

We too are looking for a home/condo in Orlando. Our situation is slightly different in that we already own a single family home in Windermere that we bought super cheap after the crash. We rent that house out full time to a long term tenant.
Itís turned out to be a great little cash cow.

I retire from teaching in June 2020 and we want to escape the Canadian winter and spend the bulk of it down south.
Initially, we looked at just purchasing a lot more DVC points but I really want the flexibility of being able to go down whenever we want and spend a good chunk of time and that would require way too many points!
We plan to use the monthly profit from our Windemere house to pay for this new Snowbird property we want to purchase.
We donít plan to rent it out regularly on Vrbo, etc. but want the flexibility in case we do decide to rent it out more often, so are looking in all the short term rental communities in Kissimmee and Davenport.
Currently, I spend a good chunk of time surfing Real estate sites and have saved a bunch of homes in communities like Bahama Bay, Legacy Dunes, Encantada, Windsor Hills, Windsor Palms, etc.
Generally speaking, the listing price of a house is quite low (especially compared to the Toronto area!) itís the fees that are crazy. One fee that is often not listed is the CDD- which is the community development fee that is tacked onto your annual property taxes. In places like Reunion, Champions Gate, Celebration these are insanely high!

Iíd be really interested in reading about your thoughts on Bahama Bay. It does look like a lovely community!
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Old 11-27-2019, 11:52 AM   #12
capeokw56
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Originally Posted by cmrdgrs View Post
For all of the reasons above this is why DH says that owning DVC is one of the best "second homes" we could have. He loves that we go, we stay, we have fun, and we don't worry about the finer details. Owning DVC is expensive, but to not have the worries of a rental has been priceless to us.
We struggled with this question for several years. It had always been our plan to buy a condo in Winter Haven when I retired but after weighing the pros and cons we decided on DVC instead. Part of our decision was based on a friend's experience of owning a condo, also in Winter Haven, and being absentee. She had several very bad experiences including a flood in her unit that caused $100k in damage and the insurance only covered a portion of it.
We're very happy with being able to go to WDW whenever we want and then being able to go back home without any worries about our property.
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Old 11-27-2019, 12:10 PM   #13
tomandrobin
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Originally Posted by suejen View Post
We too are looking for a home/condo in Orlando. Our situation is slightly different in that we already own a single family home in Windermere that we bought super cheap after the crash. We rent that house out full time to a long term tenant.

Having a long term rental is the only way to go. So different then trying to chase the vacation rental market and certainly a heck of a lot less work.
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Old 11-27-2019, 12:12 PM   #14
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Originally Posted by suejen View Post
One fee that is often not listed is the CDD- which is the community development fee that is tacked onto your annual property taxes. In places like Reunion, Champions Gate, Celebration these are insanely high!

Interesting.....I did not know about the CDD fee in Florida communities.
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Old 11-27-2019, 01:04 PM   #15
BWV Dreamin
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Interesting.....I did not know about the CDD fee in Florida communities.
These are also present in The Villages.
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Old 11-27-2019, 02:50 PM   #16
SuzanneSLO
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We own vacation rentals in Maui that have a positive cash flow. We visited regularly from more than 10 years, but our last 6 visits to Hawaii have been to Aulani using DVC points. We know Aulani will be a relaxing time and visiting our own units will mean lots of trips to Home Depot!
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Old 11-27-2019, 02:57 PM   #17
coastak
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Current trip may be best ever for us. This two week vacation approach is amazing. Iíll update TR at some point but right now Iím looking for some expert opinions. One of the goals this trip was to go real estate shopping. I think we have found a community where Iíd be comfortable buying. Does anyone know anything - good or bad - about Bahama Bay? https://www.wyndhamvacationrentals.c...-resort-resort

10 minutes from Disney, (25 from parks) Wyndham managed, 30-45 minutes from airport, multiple community pools, restaurants, club house, etc. 24/7 security gate & we can take lazy way out with Wyndham managing rentals or Air B&B it ourselves with a property manager if we want. 3 bed, 2 bath condo for under $120,000. Monthly HOA is $535 and includes water, WiFi, sewer, garbage, grounds, security .... basically everything but electricity. Economics are such that if we use the condo (and our Poly points) rather than rent hotel or house, we could lose a bit each year while paying mortgage & still come out ahead.

Iím seriously considering buying one of these before we leave. Iíd love to have my own place in Orlando. One reason I might wait is to take another year or two to save enough to go for a small single family house instead. I really canít think of any other reason not to jump in for this dream.

What do you think? Continue saving or make the leap???
I would look for hidden fees here. Roughly 6,300 a year for HOA is higher of course than nothing but not astronomically high like a lot of the forced country club communities with 20 to 25k a year. I would assume the "resort" also charges a rental fee and cleaning fee so you would get very little in return for renting. Factor in property tax, insurance etc.. as well. I would not buy before leaving, the deal will still be there when you get home.
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Old 11-27-2019, 04:41 PM   #18
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We looked at 4 more today at BB, met with their on site property management & a third party option. Numbers were just about what I expected, having done a ton of research prior to this trip. We have other rental property, so are fairly well prepared for all the downsides everyone has mentioned.

We have narrowed the decision to two different units. One is the 1200 sq ft ground floor which is listed at $115. The second is a 1700 sq ft on the top (3rd) floor listed at $132. Both units are 3 bed / 2 bath and less than 3 minute walk to restaurant/bar with one of the 4 pools, sand beach & fishing pier. DH and I each prefer a different one, so the decision discussion after Hoop De Doo tonight should be energetic.

Iím super excited about this. Itís something weíve planned to do for several years now. Iíll update as we make decision/offer etc.
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Old 11-27-2019, 04:52 PM   #19
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Definitely following along. Thank you for doing all the legwork and knowledge for quite a few planners and dreamers on this board alone.

Was toying with more DVC points for snowbirding Jan/Feb for sure but was toying also with renting / buying. We never have a car at Disney which puts the damper on looking around. I just today was looking into renting a car at Dolphin. My very limited knowledge was only about Bonnet and Vistana from friends so I VERY much appreciate your information for Bahama Bay. Can't wait to follow you throughout the process.

BB looks wonderful and I wish you the very best in your decision.
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Old 11-27-2019, 07:15 PM   #20
AnnaS
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Best wishes!!! Looking forward to your update!!
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