As coronavirus continues to make its way around the globe, would-be tourists are continuing not to. The effects of coronavirus on Orlando vacation rentals have been pronounced. But better times lie ahead. After all, an investment is a deal you make with the future. And Orlando’s future is looking bright!
It’s early May, the time of year theme parks would normally be gearing up for high season.
Bringing in scores of seasonal workers and turkey legs by the truckload.
But this year has been anything but normal.
And in Orlando, the theme park and tourist capital of the world, people are feeling that lack of normalcy more than anywhere else on earth.
For the first time since 9/11, all three of Orlando’s biggest theme parks – Disney, Universal, and SeaWorld – are closed.
Leaving many vacationers without a destination, and no choice but to cancel their plans.
But Coronavirus hasn’t just had adverse effects on the theme parks, but another Orlando staple: vacation rentals.
For their owners, it’s been a tough couple of months.
With suspensions of new vacation rentals suspending passive income.
And travel restrictions possibly limiting their own use of the property.
All while mortgage bills continue to roll in.
But while coronavirus has certainly made challenges for current vacation home owners, prospective owners are finding themselves at a unique advantage.
Citing the Wall Street Journal, moneyunder30.com reports that mortgage rates have hit a 3-year low of 3.45%.
And although Orlando is presently in a state of quiescence, it won’t stay that way for long.
According to forbes.com, theme parks are expected to reopen as soon as June 1st.
With many exciting new attractions in the works.
And Orlando isn’t just adding new rides.
All of which means this:
For investors buying now, the effects of coronavirus may give them a slow start, but the long-term yields from their Orlando vacation rentals will be high.
And will continue to grow along with the city.
So, if you’ve been thinking of investing in a short-term rental property, don’t let the short-term effects of coronavirus on Orlando vacation rentals dissuade you.
Now is a great time to buy!
Remember: an investment is a deal you make with the future.
And while it may look like the coronavirus pandemic has dealt the vacation home industry a crushing blow, that’s only because we’re living through it.
We only get to experience the present.
And right now, the present might look less than promising.
But Authentic Real Estate Team has been in the game long enough to know the difference between a short- and long-term trend.
And Orlando, with its growing population, jobs, and attractions, has a bright future ahead.