Simon Veness, author of a Brit's Guide to Orlando

Thinking of buying a Florida home?

Buying a Florida Holiday Home

Many tourists are tempted by the idea of buying a house after a holiday here, but there are many pitfalls. The quality of life, a favourable exchange rate and the fabulous Florida weather are all compelling reasons to look into the idea of acquiring your own vacation home either to provide a guaranteed holiday home in future, a source of investment, a winter retreat or even a future retirement home. But, apart from the fact it is easy to be starry-eyed after a wonderful holiday, there are companies willing to exploit the naivety of tourists. Therefore, you need to do your homework, especially when it comes to understanding American property buying, as the terminology is completely different.

So Where Do You Start?

Well, if like me you have looked in the window of a Realtor's (the American equivalent of an estate agent) you will have seen immediately the tempting price differential compared with the UK and how much more you get for your money. At a time of low interest rates, investing in property in such an obvious growth area represents good business sense as well as adding to the desirability of a Florida home in the sun.

The other key element to consider is that new homes can often be cheaper than a comparable older property because of modern construction techniques and the sheer number being built in central Florida. New developments are seemingly popping up all the time, but this also means there is a lot of variety in the market in terms of the build quality. With a dozen or more builders, you need to have a sound idea of who to trust both for good initial quality and for attentive after-sales service.

That means you need help from someone who has built up an unimpeachable reputation in this field. In this instance, one company I have got to know well through my contacts with the British-American Chamber of Commerce, and who I am happy to recommend, is the BRITISH HOMES GROUP Florida, a well-established, specialist Orlando-based firm and (just as importantly) a certified Realtor, who deal almost exclusively in finding investment property, whether it be a short-term rental 'Own to Let' holiday home in the Disney area or an exclusive private coastal retreat. Through subsidiaries, British Home Sales Florida, Inc, and British Home Loans Florida, Inc, they also have the complete one-stop shop package. The Home Loans division work with various low-cost sterling mortgages, including UK Flexible Trackers, fixed-rate and Interest Only options through British Mortgages Abroad, a GE Consumer Finance company, you can ensure your mortgage is arranged via a British currency loan at British rates.

British Homes Group Florida is also independent of any builder or seller in the UK or US. They have both UK and US real estate and mortgage professionals, expert in all phases of British and American mortgage procedures (and, having seen them at work, I can vouch for this personally). They are members of both the Florida Association of Mortgage Brokers and British-American Chamber of Commerce.

Whoever you go with, though, ensure they can refer you to other experts in UK and US taxation, immigration, hazard insurance, structural warranties and other areas essential to hassle-free home ownership in Florida. Property in Orlando has increased in value at a steady 10-12 per cent over the last 10 years, but please bear in mind there is never any guarantee, and rates can still fluctuate.