{"id":405,"date":"2016-04-22T21:39:43","date_gmt":"2016-04-22T21:39:43","guid":{"rendered":"http:\/\/www.davesfloridavilla.com\/private-villa-blog\/?p=405"},"modified":"2018-01-25T21:53:56","modified_gmt":"2018-01-25T21:53:56","slug":"florida-villa-rental-ownership-costs-part-1","status":"publish","type":"post","link":"https:\/\/www.davesfloridavilla.com\/private-villa-blog\/florida-villa-rental-ownership-costs-part-1\/","title":{"rendered":"Florida Villa Rental Ownership Costs &#8211; part 1 &#8211; buying"},"content":{"rendered":"<h2>An insight into the buying \/ closing costs of owning a Florida Villa<\/h2>\n<p>Most Florida Villa vacation rental owners\u00a0will likely tell you that it&#8217;s a field of roses, skipping from rental to rental, bookings galore, and without any problems at all.\u00a0 In this series of blog posts I intend to highlight all the costs involved with owning a vacation rental in Tuscan Ridge, so that you know all the expected costs if you are deciding whether to go into the vacation rental business.<\/p>\n<h2>Closing costs<\/h2>\n<p>Buying a house isn&#8217;t that expensive in the USA, especially not in Polk County, Florida.\u00a0 Most of the costs either come from signing up to a new Home Owners Association (HOA) who look after the community upkeep, or from paying taxes and other costs part way through a year where the current owners have already paid for the full year &#8211; such as yearly taxes.\u00a0 In Tuscan Ridge there are 2 HOAs to pay &#8211; a master and a sub.\u00a0\u00a0Our bill for closing towards the end of December was broken down as follows:<\/p>\n<ul>\n<li>County taxes &#8211; paid until the end of the period (known as Real Estate taxes)<\/li>\n<li>Non Ad Valorem taxes\u00a0&#8211; paid until the end of the period (non ad valorem taxes are not based on the value of your house &#8211; such as the fire service)<\/li>\n<li>Assessments (HOA)\u00a0&#8211; paid until the end of the current\u00a0period<\/li>\n<li>Sub Assessments (HOA)\u00a0&#8211; paid until the end of the current period<\/li>\n<li>Closing fee paid to the legal people ($250)<\/li>\n<li>Recording fee ($10)<\/li>\n<li>HOA initiation fee ($100)<\/li>\n<li>HOA transfer fee ($75)<\/li>\n<li>HOA sub initiation fee ($75)<\/li>\n<li>HOA sub\u00a0transfer fee ($75)<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Depending on the time of the year the above could vary wildly.\u00a0 We also had to pay the 2013 HOA fees.\u00a0 It also depends on the HOA you are signing up to for your community.\u00a0 Tuscan Ridge is much lower than some other community fees because the owners are responsible for lawn care and some maintenance themselves.<\/p>\n<p>Here&#8217;s a link to Polk County Taxes: <a href=\"http:\/\/www.polktaxes.com\/\">http:\/\/www.polktaxes.com\/<\/a><\/p>\n<p>And HOAs explained: <a href=\"http:\/\/www.wisegeek.org\/what-is-a-homeowners-association.htm\">http:\/\/www.wisegeek.org\/what-is-a-homeowners-association.htm<\/a><\/p>\n<p>So that&#8217;s the easy bit explained &#8211; whereby most of the costs are incurred by the owners of the property rather than the buyers.\u00a0 The only extra cost is a survey which costs around $500 for a 4 bedroom property with a pool.\u00a0 We recommend getting this done if you don&#8217;t know much about construction and buildings in the USA.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An insight into the buying \/ closing costs of owning a Florida Villa Most Florida Villa vacation rental owners\u00a0will likely tell you that it&#8217;s a field of roses, skipping from rental to rental, bookings galore, and without any problems at &hellip; <a href=\"https:\/\/www.davesfloridavilla.com\/private-villa-blog\/florida-villa-rental-ownership-costs-part-1\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[86],"tags":[200,199,198,201,202],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - 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