FLORIDA REAL ESTATE


FLORIDA REAL ESTATE

 

Florida Mortgage Corporation offers financing for various types of Florida Real Estate. The different types of Florida real estate can be owner occupied, second/vacation home or investment property for rental income.

SINGLE FAMILY RESIDENCE  -  A free-standing (detached) structures that don’t share walls with any other homes. A singleFLORIDA REAL ESTATE family residence (SFR), or single family home, is the easiest to define in Florida. Single family residences are  usually with both a front and back yard, driveway, and attached/detached carport or garage. Intended for occupancy by one person or by one family.

2-4 UNIT MULTIFAMILY (duplex, tri-plex, quad) Multifamily housing is a type of residential property that has more than one unit in the same building.

CONDO - Are typically apartment-style properties within a building or complex. Individuals own the units, and common parts of the property, such as the grounds and building structure, which are owned jointly by the unit owners.

CONDO CONVERSION - Apartments converted to condominiums. The rental complex owner sells each of the individual units as condos. The combination of flat apartment rents and rising home prices encourages owners and developers to transform rental units into condos.

CONDO HOTEL A condotel is a project that, although the units are individually owned, is operated as a commercial hotel offering short-term occupancy. It often includes amenities such as rental or registration desk, food and telephone services, and daily cleaning services.

MANUFACTURED HOME  - Formerly referred to as "mobile homes" or "trailers", but with many more style options than in the past. Manufactured houses are built in a factory on a non-removable steel chassis. Sections are transported to the site on their own wheels, and multi-part manufactured units are joined at their destination. Each transportable unit (a double-wide has two units; a triple-wide has three units) of a manufactured home. Segments are not always placed on a "permanent" foundation. Considered as real estate only when permanently attached to the land owned by the homeowner.

SHORT-TERM RENTAL HOME  -  Short-Term rentals investment properties are very popular in the Orlando, Miami, Florida areas, etc. Most of these are SFR, Townhouse, villas detached and attached homes used by vacationers on holiday from 1-7 days or more. Osceola, Polk and Lake counties (Orlando area) allow short-term rentals because of their zoning laws. Davenport and Kissimmee is saturated with this type of property. Because this type of home is for "commercial" use as a hotel, daily maid service, registration desk, and other amenities are provided.



MODULAR HOME  -  Modular homes are built in sections at a factory. Sections are transported to the building site on truck beds, then joined together by local contractors.

STILT HOME  -  Typically a beachfront or waterfront home elevated 8 to 20 feet above high tide, constructed on structural pilings

LOG HOME  -  A Florida log home is sometimes defined as a building whose structural walls are composed of horizontally laid or vertically positioned logs.

TOWNHOUSE  -  A Florida townhouse is a home that is attached to one or more other houses, but which sits directly on a parcel of land that you also own (if you don't own the land, it is a condominium). For this discussion, townhouses can ranges from duplexes and triplexes all the way through huge townhouse communities consisting of hundreds of similar homes.

CO-OP - Residents own shares in a legal entity that owns a group of homes, usually one or more apartment buildings. Each shareholder typically has a lease agreement with the co-op, and the co-op's rules provide tenure for its residents.

Residential Lot

Commercial Land

Vacant Land
 

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