Mapping the residential areas of Orlando: know before you buy

14th October, 2015
  • If you are thinking seriously about buying a home in Orlando, then you need to understand the general layout of the various neighbourhoods that make up the city and how they influence the areas around them. As a starting point for your research, here are some of the most influential residential areas in the city and a little information about how they affect the communities within and around them.

    Pershing

    A lot of different factors influence how much it will cost to purchase a home and how much value it will appreciate as the years go in. Homes are cheaper in neighbourhoods such as Pershing, which has a rich history as an Orlando community but whose property values are relatively low due to the area's distance from the city centre.

    If you choose to invest in a neighbourhood such as Pershing, you're likely to find the entry level very attractive and you can potentially achieve a better yield if you invest in renovating the home. However, the higher crime rates that define the area can cause problems in attracting qualified buyers and puts your property at a higher risk than if it were located in a more respected area.

    Pine Hills

    Pine Hills is another neighbourhood where you can potentially pick up a home for much less than you would elsewhere, but has a legacy as a community with a very high crime rate. This again means that you can expect bigger yields from improving the property you invest in and renting it or potentially selling it at an increased price. 

    However, Pine Hills is a great example of why it is important to do all the research you can when investing in property in Orlando. Starting in 2004, the local authority instated a revitalisation plan to improve the neighbourhood, and the results are already showing. This means there's a real opportunity to buy a home at a discounted value and then watch it increase in value as the neighbourhood improves around it.

    Thornton Park

    A neighbourhood such as Thornton Park is on the opposite end of the spectrum when it comes to price and the potential risks involved. Thornton Park is a beautiful neighbourhood with brick streets, many exclusive restaurants, and homes in the area sell for premium prices.

    This means it may be more expensive to buy a house, but you are much less likely to have vacancy issues or have trouble finding someone to sell it to once you're ready to cash in on your investment. However, the home may not increase in value significantly over the years, because prices are already at the ceiling.

    Whatever your budget and investment objectives, the most important thing is to be thorough in your research, as the neighbourhood you invest in change make for markedly different investment experiences. By taking your time and speaking to local sources in different areas you can weigh up the different options and settle on the area of Orlando that best meets your criteria.


    by: Prime Asset Investments

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