Your Central Florida Real Estate Agent specializing in Condominium Sales and Investments 

Buyers have many reasons to purchase condo conversions ranging from a second home for vacation purpose to renting and reselling at a later date. Whatever the reasons are, Central Florida is a hot place to invest since its population is growing substantially. Job growth and investment opportunities to attract many families and investors.

Why buy a condo hotel conversion?

Condo-hotel conversions are usually located in prime areas for work and recreation. This means that they will hold or increase their value over time and are easily leased. Many investors choose to flip since across the board, condo-hotels have increased substantially in value.

Most condo-hotels come with the amenties of a luxury hotel such as spa, hot tubs, pools and gyms. Whether one lives in the unit or rents it out, the convenience of these luxuries is definitely worth investing in. In some instances, owners can negotiate with the hotel to provide renters services offered to hotel guests.

You also stand to capitalize on the hotel's brand recognition, reservation system and professional management team. Buyers can check with the hotel regarding a rental program when units are not being used. This relationship may also offer better rates for the owner.

Here are some considerations to buying a condo-hotel:

1.) Make sure this purchase if right for your lifestyle and financial goals. Condo-hotel units are not usually purchased as a second home but more so for leasing out to tourists or reselling at a later time when the property has appreciated.

2.) Check out the location and make sure the economy of that area is healthy. Make sure it has the amenities that encourage a renter to lease your unit or attracts buyers. Consider the convenience of driving to work, airport or local attractions, parks or golf courses.

3.) Consider the name of the hotel franchise. Famous name hotels will command higher prices and more opportunity for profit from renters and buyers.

4.) Is the hotel located near high traffic areas such as downtown, a convention center or near theme parks? Units tend to get more attention and business due to high traffic in these areas.

5.) Make sure the hotel offers luxuries that many hotel guests enjoy such as pools, spas, tennis courts and nearby shopping and golf courses. These will attract both buyers and renters.

6.) Check out the view and amenities your unit will have. Does it have a kitchen? Are you happy with the floors, walls and bathroom? Does it offer storage? Is the view appealing?

7.) Will the condo unit appreciate in value? You need to reseach the area for competition and economic health of the community. What makes your condo stand out? Location? Amenities?