What Is A Villa In Florida For prospective buyers eyeing investment opportunities in the sunny state of Florida, the array of property terminologies might spark some confusion. After all, what distinguishes condos from townhomes, single-family homes, vacation homes, and villas? These terms are all used to define various property types or concepts, and it’s vital to understand their differences. In this article, we’ll provide a detailed explanation of each term and the characteristics associated with the properties they represent. Continue reading to gain clarity.
A “condo” or “condominium” represents a property format where you own your individual unit while sharing ownership of common areas such as parking, hallways, pools, and gyms with other unit owners. Typically, condo owners are charged a monthly condominium fee (HOA) to cover maintenance expenses for the facade, systems, structure, and communal spaces. Condos come with statutes and rules of cohabitation that residents are expected to follow.
In Florida, the term “condo” is often used to refer to apartment-style buildings, which can range from towering skyscrapers in Miami to smaller complexes with fewer units. However, it’s essential not to confuse “apartments” with condos. While structurally similar, apartments are typically available only for rent and cannot be purchased. In such cases, the entire building belongs to a single investor who constructed it solely for rental income. Like condos, apartment buildings also offer communal facilities and leisure infrastructure.
Townhomes are semi-detached houses that usually share one wall with adjacent units while featuring similar facades. In Florida, townhomes are typically situated within gated communities with common areas, resembling the condo setup mentioned earlier. However, townhomes are distinct from apartments in vertical buildings.
Similar to condos, townhomes incur a condominium fee (HOA). Owners are responsible for maintaining the exterior of their units, including lawns and roofs, while the Association (HOA) takes care of common areas like parking lots, sidewalks, and recreational spaces. Townhomes cater to various preferences and budgets, ranging from simple to ultra-luxurious, offering different sizes and price points.
As the name implies, single-family homes stand alone and are not attached to other units (no shared walls). This independence provides residents with greater privacy and comfort. These homes are typically designed for families and, due to their detached nature, are often more spacious and expensive compared to townhomes.
Single-family homes can also be purchased within closed condominiums, granting owners access to common areas and necessitating payment of an HOA fee.
In Florida, the term “villas” is broad and can be used differently by real estate brokers and developers. Villas can refer to either townhomes or single-family homes, typically characterized by a more upscale profile and higher standard features. While it deviates somewhat from the traditional concept of a village or small community within a country, it often attempts to capture certain aspects of the traditional definition.
- Vacation Homes: The term “Vacation Home” pertains to the property’s rental profile rather than its architecture. It can encompass both townhouses and single-family homes, indicating that these properties can be rented for short periods without specific time restrictions (e.g., one day, one week, one month, or one year). Orlando, in particular, offers specific zoning allowing seasonal rentals, with the city of Kissimmee being renowned for this. Vacation Homes can yield attractive rental returns, ranging from 6% to 10% per year, given the substantial demand for such accommodations in Orlando.
- Gated Community: This term doesn’t define the type of real estate unit but rather the concept. A “Gated Community” essentially refers to a walled community with a gate, akin to closed condominiums in Brazil. Gated communities may contain Single-Family Homes, Townhomes, or Villas. Their regulations regarding seasonal rental may vary, with some qualifying as Vacation Homes.
Within a gated community, access is controlled via one or more gates, with certain communities offering guardhouses staffed by concierge or security personnel to ensure only residents or approved guests enter. Others may employ automatic gates allowing residents to control access via remote control.
About AMG International Realty
AMG International Realty is a global real estate company specializing in the Florida real estate market. If you’re interested in buying, selling, or renting real estate in Florida, please feel free to contact us for personalized assistance. You can also chat with us on WhatsApp at +1 (305) 318 6968 (Heloisa Arazi).