Running a villa: money transfers

Beware: retail banks charge a fortune

So, the first dilemma is how to get money efficiently from the UK to the USA without paying large and unreasonable charges from my local Natwest bank.  This isn’t a big problem for a small amount, but for frequent and large amounts then it’s time to look elsewhere to keep your running costs low.

A renter, buyer, or general eBay purchaser should never use their bank for FX transfers – they are a bordering on a scam.

 

Small money transfers

After lots of searches and research I came up with a few solutions.  The first is TransferWise, which charges a low percentage and uses the interbank spot rate.  Up to £300 is only a £1 fee, and higher amounts rise to less than 0.5% fee.  Much better than a bank that charges a fee and also uses a spot rate thats up to 3% lower.

I’ve transferred using Transferwise around 20 times now, and it’s fast and secure every time.  Here’s my personal link so you can get a free transfer of up to £500: Transferwise.

Large money transfers

The second solution is to use somewhere like Frontierpay (The FX Firm), Moneycorp or UXForex.  These usually charge no fee for large amounts, and offer a fairly good spot rate, but not as good as TransferWise.

It turns out TransferWise want around £600 to move large amounts of money from the UK to the USA via FX transfers – because it’s a percentage fee and not capped.  Whilst they are good for values of up to £3000 it soon falls apart after that.

Hence my search for FX transfers continues, but not too far.  I found Frontierpay (formally The FX Firm) offer the best rates at the moment, but it’s close to UK Forex and Moneycorp.  Hopefully I can get a good rate for the transfer of GBP to USD – silly really because the sellers are UK based so the money is wiring around the world purely for USA tax purposes!

South facing pool benefits

Why buy or rent a villa with a south facing pool?

In this blog entry I’m going to try and explain why a villa with south facing pool is essential when you are creating your shortlist for a villa purchase or vacation rental in the Orlando Florida vacation regions, or any northern hemisphere accommodation (reverse the logic for a southern hemisphere property).  Here’s a Dave-special diagram:

sun_shadow_diagram_florida

Simple diagram explaining the length of a shadow case by the sun in Florida

As sure as the day is long, the sun rises in the East and sets in the West, but depending on how far north and south of the equator you are (known as latitude), will add a north/south dimension to the angle of the sun’s light, and therefore a length, to the shadow a building casts.

If we take the simple example above of the midday sun to remove any east-west shadow angle, the diagram above explains why latitude adds an angle to the sun and subsequently a shadow at midday when the sun is directly overhead on the equator. This is the exact reason you need to rent a villa with a south facing pool.

villa_shadow_profile_in_winter

Our villa shadow profile in December

The further north you travel, the longer this shadow is.

 

Do you want your pool to be in the grey shadow the building and the sun create at midday? No! To find out exactly what the shadow looks like in Florida, I put in the latitude and longitude of Dave’s Florida Villa into the coordinates on a shadow plotting site, then selected the shortest day of the year in the Northern hemisphere.  December 21st.  The results are in the time-lapse picture view to the left.

I then put in the rough dimension of our single-storey hip-roofed villa, because the height of the building increases the length of the shadow.  A two-storey building will cast a much bigger shadow than a single-storey villa.

It’s very clear to see why you want your pool to be in the area not affected by the shadow throughout the entire day.

A pool on the north-east of a building gets lots of sun in the morning.  One on the north-west would get the evening sun.  However one facing south gets a lot more sun than both.

It’s not just the fact you can sit in the sun all day by the pool, the south facing lanai remains dry all year, so less mould exists naturally, and the water dries quickly, so generally it’s a much nicer and warmer place to be than on the north side of the building.

You can see that by looking at any of the buildings in Florida – the north side of the villas are always a little greener and dirtier than the south facing aspects.   Have a look on Google Street View and take a look for yourself on Tuscan Ridge.  We rejected many houses in Florida because the pool deck was so dark and dirty because it was north facing.

Extreme survivalists use this technique when navigating in the wilderness, just not on buildings but on the vegetation!  Not really much need for this in Tuscan Ridge!

Many thanks to the website Find My Shadow which allowed me to use the efforts of someone else to help explain what our villa shadow profile looks like in the winter months.

But where’s the proof?  To put all this theory into action I downloaded our villa aerial view from Google Maps and guesstimated when it was taken.  See the image below.

This aerial photo was probably taken in the winter, early afternoon, I guess at around 1pm.  The pool is still completely bathed in sunlight after being exposed all morning.  Our south facing pool will remain mostly in the sun until around 4pm.  Even during the shortest day of the year!

Tuscan Ridge Barbera Drive Villa

Google maps satellite view of Dave’s Florida Villa – with the south facing pool

 

In September we have sun easily past 4pm, but at 4pm you can tell that the shadow in September is much shorter than in December, so more of our lanai is exposed to the sun.  Great for evening dining and relaxing.

The last example I have is when the building has a gable-ended roof.  This roof design results in a much higher roof but one that is structurally weaker to hurricane force winds.

gable_vs_hip

Hip roof (left) and a Gable roof diagram

The only benefit is more storage space which we don’t care about in Florida when we want the most sun available.

gable_end_villa_shadow

Gable end roof and the resulting shadow in December

This shadow plot is also in December, so compare it to the first of our diagrams and you can very easily see just how much longer the shadow is cast with a gable roof.

Click to open full size.

In conclusion, a vacationer or house buyer should always consider the benefits of a south facing pool or garden.  How much sun do you want to get?  Also factor in the height of the building, roof design, and latitude, which all impact the size of area of shadow cast by the sun.

If you have a choice you should always without exception get the south facing pool.  South east for the morning sun, and south west for evening sun.  Exactly the same when buying houses with gardens in the UK.

Villa Maintenance – Tuscan Ridge July Update

pool-spa-lanai

2013 renovations complete!

To make this clear right from the start – we did not do 2,013 renovations, that’s merely the year we’ve done them in.  Just in case you were wondering why we needed to do a couple of thousand updates to the villa.

Donna and I had a busy June, popping over to Tuscan Ridge from the UK with our 1 year old boy in tow.  2 weeks of renovations and villa maintenance whilst juggling the attentions of a little person is no mean feat.  Plus the 100 degree temperatures and high humidity to boot.  This didn’t stop us doing plenty of work on the inside and outside of the villa.

During the ownership of a villa, over several years things tend to get run down, dirty, and just plain and simply well-used.  This isn’t good, and it’s why you should choose our villa – we don’t let this happen! We plan to do some freshening up every time we visit, to make sure the villa is in a good state of repair and feels fresh and clean for every renter.  Almost all of the vilal maintenance jobs we did were DIY-friendly, so if you own a villa there’s no reason why you can’t tackle them too.  The biggest issue was buying all the new tools without spending a fortune. A Home Depot card is probably a good choice.

First off was a deep clean.  Cleaners between rentals only do a standard clean of the villa and linen, so it’s necessary to go over the villa with spot cleaners and the like to remove any unwanted and unsightly stains.  Simple enough.

Next was a complete overhaul of the pool deck.  Washed and bleached first, and scrubbed heavily to remove all engrained dirt, and then wire brushed to remove flaking paint and stubborn marks (this takes a good day to complete).  Once this was done it was on to a Xylene based acrylic paint for the deck, applied with disposable rollers and a extension pole on a roller to avoid chronic back pain….  Two coats of the deck paint followed by a two coats of clear coat did the job, although for safety’s sake we also applied a fleck to the top coat to ensure some grip under wet conditions.  In total this took around 3 days to complete, rain delays permitting.  The acrylic paint was around $25-$30 a gallon and the clear coat a similar amount.  $150 including materials.

Onwards to the outside of the villa!  To keep grass strimmers away from slicing the pool screen wide open, and to add a nice touch to the outside of the pool deck, we decided to lay down white granite chippings in a simple 18″ border.  A straightforward enough job with weed matting and a spade, but exhausting after using 40 bags of granite chippings to surround the large pool deck / lanai area. The resulting turf excess was used to tidy up bare patches of grass around the wide plot, so nothing was laid to waste.  Not bad for $200.

tuscan-ridge-pool-exterior

Marble border and Oleander shrubs

Continuing to improve the look of the outside, 5 Oleander shrubs were planted at the back of the pool to add some privacy and improve the outlook. The shrub is drought-tolerant and will tolerate occasional light frost down to freezing temperatures (yes it can freeze in Florida!), as well as producing a nice flower to add to the view.  Ideal for Florida climates, the Oleander needs to be pruned and is slightly toxic so needs to be handled with some care – but only when ingested.  The shrubs are inexpensive – around $10 each from Home Depot.  Mulch is very cheap at $3 or $4 a bag, plus compost.  Less than $100 including materials.

Finally, hairline cracks in the stucco and previous bad jobs of touch-up paint were repaired (after cleaning) with a silicone caulk (they were very small hairline cracks) and painted over with an exterior paint.  Here’s a good guide.  None of the hairline cracks were serious, but it does detract from the villa when the rest of Tuscan Ridge is so nice!  The rest of the engrained dirt – usually on the northern side of the house – was cleaned and scrubbed to get things looking like new.  Paint and caulk was less than $30.

pool-screen-south-facing

Oleander shrubs are hardy and resistant to drought

Interior-wise, the house was very clean but a little too plain, so we decided to liven the nook dining area up because it is a holiday rental after all.  Out came a nice bright red paint and within a day we had transformed the centre of the house into a lively place to dine.  The benefit of this is that you can see the bright paint from various areas in the house, so it has a much bigger effect than painting one feature wall would have.  Paint isn’t too expensive in the USA; we used Glidden and a gallon cost around $20 – although they all have to be mixed from a base coat, unlike the UK where they have colours on the shelf.  We also painted a feature wall in the living room, and various touch up paint came to $100 in total.

nook

Bright and colourful nook dining area

New pictures were hung (imported all the way from the UK!), and old frames and mirrors were re-sprayed using a multi-purpose spray paint, giving them all a new lease of life for little cost. Frames cost a lot less to purchase in the UK, so we brought them over in a large suitcase and saved the hassle and expense of buying them in the USA.

pictures

Pictures all the way from the UK!

Preparations for a games room in the future started with an overhaul of the garage floor. A degrease followed by etching the concrete ensured that the garage paint adhered well to the surface.  I used the Behr 1-part epoxy garage paint and bought some additional flecks to throw on to the paint afterwards.  This costs about $35 a gallon and needed 2 gallons for the floor, and an extra $10 for the fleck, around $10 for the etching, so $100 in total including materials.

garage-games-room

Future games room preparation

In amongst all of these main villa maintenance jobs were numerous odd jobs.  Re-sealing the bathroom sinks and showers, re-grouting tiles, replacing cracked window surrounds, touch-up painting, blocked paving, sprinkler adjusting / replacement, and blind repairs were just a few of the repairs we did to keep the villa healthy.  New mulch was added to keep the exterior looking great.

In total, less than $1,000 has completely transformed the villa, ready for our next batch of rentals!

 

 

Orlando villa prices up 22 percent this year

Mini bubble or true growth for villa prices?

The Florida market looks more promising than it has done in a long time if you were planning on waiting for true stable growth before purchasing a vacation rental in the Orlando or Davenport area.

However, 41 percent of house owners still owe more on their mortgage than the house is worth.  There are some initiatives like the Hardest Hit Fund that help out with childcare, utilities, legal costs, employment and healthcare – but when will this money run out?  It’s still a risky time in the market when all of the facts and figures are considered.  Is the so-called stability just government funded out of a resource pool that will dry up?

On the flip-side, the annual increase in the average house price is up 22 percent from last year.  Unfortunately I don’t have figures for villa prices to hand.  That sort of growth isn’t sustainable but it shows a sign of trust in the market for potential buyers.  Most houses have multiple offers for the buyer’s consideration.  Talking of the flip-side – house flipping is back in vogue, which will probably do nothing to help the market stability.

So I’ll still sit on the fence with regards to advice on villa prices – but if you can buy now and commit long term with dedication to vacation rental marketing, you are sure to at least cover the interest on the mortgage.

Is Tuscan Ridge too far from Disney? No!

Is Tuscan Ridge too far out from Disney?

Definitely not!

On a map it looks like it will take longer to get to the Florida theme parks than an area such as Kissimmee, but in reality it’s so well connected to the I-4 that you can get to the gates in under 15 minutes. The problem with Kissimee and travelling on the 192 (from east or west) is the lights, and traffic. Hit every red light and you’ll be wishing you were on the Interstate. Hit every red light for the fourth day in a row on the 192 and you’ll wish you weren’t on holiday at all! It’s so much more relaxing to whizz down the 27, over to the I4, then up to Disney. Traffic flows well, it’s a more consistent drive, and only one or two lights to contend with on your way to the Interstate. You can stop off at the nice Championsgate shopping area and Publix to stock up on essentials too.

So in short, Tuscan Ridge is a great place to stay and close to drive to Disney, Golf, Seaworld and Universal Studios.

Much better to get a quiet and perfect villa like Dave’s Florida Villa than be 3 minutes closer to Disney in a compromised villa. Book now!

Tuscan Ridge official HOA page