Wanderlust World Wanderlust World Among the available options for vacationers or tourists to the Orlando area is renting a vacation house. When planning to rent a vacation home, there are several considerations to make beforehand, such as finding out the number of rooms and the proximity to attractions like Disneyworld or Universal Orlando, payment options, how often furniture and linens are replaced, who to call if something goes wrong with electric, plumbing or other house issues and what to do in case of emergencies. Always talk out all of the details of the house with the owner before renting or making a rental agreement to prevent any problems with the rental or vacation.
Buying a vacation house is another option for the vacationer to Orlando. Typically, buying is appropriate when planning to vacation often or for business purposes in setting it up as a rental property. If setting it up as a business property, there are several considerations to make beforehand, such as how many weeks to rent before the property breaks even for mortgage payments, the advertising options and whether to hire a manager or not. There is also the consideration for taxes, which vary depending on whether it is rented out or not. Taxes for a property which is not rented allow mortgage deductions. For properties which are rented, the property is a business and can deduct some expenses, like utilities, up to a certain level of modified income, which is adjusted up until about $150,000 according to Liz Pulliam Weston on MSN Money.
Vacation houses vary widely in the Orlando area and knowing what is a want and what is a need in the home is important. For example, a house down the street from one of the Orlando theme parks might be a want, but is not necessarily a need for a vacationer with a car. On the other hand, meeting the needs of bedroom requirements for the family, such as three or four bedrooms, is a need. Knowing the wants and needs of the family makes it easier to find the most appropriate vacation house.
The costs of an Orlando vacation house vary depending on whether it is bought or rented. When buying, the costs are based on the price of the purchase of the home. Orlando home costs will vary depending on the market conditions at the time of the house purchase, the specific house and extras like pools or amenities which come with the house. For rental properties, costs are usually easier to estimate. The average rental property cost will usually end up around $100 to $250 a night or between $500 and $1000 a week, with variations depending on the specific rental.