Should we buy land or a home in Winter Park?
 

Thinking of buying a second home in Winter Park, FLA, with the idea that perhaps in 5 years or so, we'll move there permanently. Not sure if we should look at land alone or homes... We'd like one on a pretty lake.. kind of cottage-y feel... shady, established neighborhood.. good deals. Prices seem high though.. especially now with all the press of going into a recession. Anyone with any ideas on how to pursue, let me know. I'm new at looking for propery or homes.. Not sure of the best lakes there... or what. Our kids are grown, so we don't have to worry about schools... I feel if we move from the North East where it's cold, the kids would most likely want to return "home" to FLA for a visit with their old folks than to return to a cold place like we're in now!

I live right next to Winter Park. While property values have declined some, they generally do well over time and should rebound in five years. As you probably know, this is a very desirable area. I have a friend who is a real estate broker. Let me know if you want her contact info.

My first concern would be that most things in Winter Park are overpriced. I know it's a buyer's market right now, but during my 18 years in Orlando I saw many homes in nice Orlando neighborhoods that were many thousands below the same type of house in the same type of neighborhood in Winter Park. That's why prices seem high now.

There are so many houses for sale in Orlando right now (with plenty of them on lakes) that you'd get a much better deal there. Or in one of the outlying communities.

We went through a period in Central Florida about 10 years ago when most of the lakes dried up due to the drought, so be aware your waterfront property may not always be waterfront!

Since you don't know the area well, your best bet is a good local realtor. Take your time looking and remember a lot of people are desperate to sell right now.

I live right next to Winter Park too, in it's sister city Maitland. Even though home sales have fallen in certain areas, this is a very desirable location and things never seem to go down! We've been here 17 years, originally from the North East and call this area New England With Palm Trees...love it! We are early 50's...FYI.

Winter Park is a highly desirable area - always has been, always will be. As my Realtor grandfather always told me, location, location, location.

teadrinker, can you come down here and spend a few days checking out Winter Park?