However, it is all too easy for British buyers to be blinded by the photographs and videos showing beautiful new American-style houses and nicely landscaped plots all in a pristine setting in the “Sunshine State”. They forget what the golden rule of property buying – location, location, location – really means.

Sitting in the dismal UK winter, they think the “location” is Florida, and that everything – anything – in Florida is an attractive alternative.

They forget that Florida is a massive state, and there are the same regional variations within the state as there are in the UK. The decision to buy a property in Miami or Orlando, on the Gulf coast, the Atlantic coast, or in central Florida can be critically important – especially if some or all of the mortgage is to be paid by holiday rentals. You wouldn’t think that buying a property in Liverpool was interchangeable with buying in the Lake District, so don’t make the same mistake with Florida.

Let’s look at a few of the key areas around Florida.

REGIONS OF FLORIDA
ORLANDO

Orlando is a world-class, large-scale tourist destination, with some 60 million visitors each year. With a massive range of established and new tourist attractions, reasonable proximity to the coast and easy air links to the UK, this is the largest single area for property investment in Florida.

At first, life in Orlando may seem very exciting – frenetic even – based around theme parks (Orlando is home to Disney World, Universal and MGM Studios, Pleasure Island, Sea World and many, many more), shopping and eating out. However, the scale of the area, careful zoning and surrounding countryside mean Orlando can also be a location that is peaceful, private and relaxing.

Although Orlando and nearby Kissimmee are about as far inland as anywhere in Florida, the coast is still only about 45 minutes away. Being inland does mean that properties here are not subjected to the same weather extremes as those on the coast – which could mean a saving on insurance if nothing else! However, Orlando is also the location where many properties are over priced and some are poor investments - Even if you think you know the area it is critical not to take nothing at face value and seek independent advice.


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THE FLORIDA COASTLINE

Over 1000 miles of glorious sandy beaches, palm trees and warm clear blue water, combined with a great year-round climate means the Florida coast can be a good choice to maximise rental income.

Extending over such a large area means “the coast” takes in a wide variety of different locations, each with their own local flavours.

Gold Coast
A narrow coastal strip with golden beaches bordering the Atlantic Ocean and the Everglades, is where you will find many popular locations such as Fort Lauderdale, Boca Raton, Miami and Palm Beach. Life on the entire Atlantic coast is considered to be a little more hectic than on the relaxed Gulf coast. Space Coast
The area in the centre of the Atlantic coast is where you will find famous names such as the Kennedy Space Centre, Cape Canaveral and Daytona Beach.
Gulf Coast
The west Coast of Florida is an area of exceptional beauty, featuring a shoreline of coral inlets with white sandy beaches. Outdoor living is the norm here, whether your tastes extend to golf and tennis, or the more adventurous scuba diving and water skiing. Equally, properties in this area are very varied – from waterfront homes to condominiums in beach and golf course developments.

This is an area where life tends to go at a more relaxed pace and areas such as Sarasota, Fort Myers and Naples are becoming more and more popular with US and UK citizens looking for the climate and lifestyle benefits of Florida without the brashness of Orlando and Miami Beach.

THE PANHANDLE
The northern region of Florida borders the states of Alabama and Georgia, so cities such as Pensacola have a character closer to “the deep south” than to the glitzy glamour of Miami for example. You can get a “visitor’s-eye view” of Florida at VisitFlorida.com, the official tourist website for the state. This will give you a destination-by-destination view of the kind of official promotion that goes into bringing visitors to Florida, and how the state is branding the different areas and promoting them to different target groups.
In short, you will have to prove that you have committed significant funds to the creation of a US business that can support you, your dependents and will create employment for local people.

WHEN LOCAL REALLY DOES MEAN LOCAL
Even when you have narrowed down your search to a region, and then further to a specific city or area, you have to be aware of an important location factor that will influence your choice of property – local zoning.

In many areas, local zoning is similar to the broad classification of land in the UK – specifying what it can be used for; residential, agricultural, industrial etc. However, there are local zoning restrictions in Florida that go into much more detail, specifically in relation to residential properties. These can influence all kinds of things, from the number, size and style of houses in the area – to what you can do with them.

The most significant zoning restriction is that only certain areas allow short-term letting, so you can’t buy a property as a primary or secondary home (that is – where only you will live in it) and assume you can later decide to start renting it out, as there may be zoning restrictions that prevent this. Some zoning restrictions even apply to things like the number, size and shape of swimming pools in an area, so you really do need to dig right into the detail before committing to a Florida property.

Some areas have very few properties zoned for short term letting, which may tempt you to dismiss them as a potential place to buy. However, if the area is attractive and the location is right, it’s likely that those few properties can enjoy high rental rates and occupancy levels.

LOCATION, LOCATION, LOCATION
Narrowing down your area of interest to a region according to the general lifestyle you want to live – or that you want to offer to your paying guests – is a good start, and it will certainly make the rest of the task more manageable. Making sure your area of interest is zoned for the kind of use you intend means another important hurdle has been jumped.

However, the true meaning of “location, location, location” only comes into play when you look at the next level of detail – the location of specific properties.

It’s critical when you are evaluating each potential property that you are able to take some time to blank out completely the building itself, and consider where the building is located – don’t fall in love with a building, a swimming pool, or style of décor and allow that to blind you to where it is situated.

Remember – you can change anything about a property except its location!

Warning signs that signal “bad” location:

• On a feeder street
  
• On a flight path
  
• In or near a gang territory
  
• Too close to night life
  
• In a rundown block or area
  
• Next to a school or school playground
  
• Next to apartments or commercial property
  
• In close proximity to a freeway, expressway or railroad
  
• Next to a petrol station
  
• Near any disposal or waste facilities
  
• In an area of high unemployment
  
• Within reach of odours from factories or farms
  

COASTAL CONSIDERATIONS
Properties on the coast are of course more exposed to the elements than those inland – with implications you must consider when thinking about buying property there.

The most serious implication of course, arises from the fact that Florida is the most hurricane-prone state in the USA. In practical terms, this translates into two risks for homeowners along the coast – wind and flood (the tidal storm surge from a hurricane is termed flooding for insurance purposes).

Along with the asking price of a coastal property, you should also consider the availability and cost of insurance against these risks. It is quite possible that the cost of insuring a coastal property will be twice as high as a property inland, adding a four figure sum every year to your costs

It is certainly advisable to make any agreement of sale contingent upon getting adequate and affordable insurance.

Wind insurance is generally required if the property is in a 25 mile wide coastal strip, whereas flood insurance is based on official flood zone maps – but many large national companies have stopped offering insurance in Florida because of these requirements. That restricts your ability to shop around, and increases prices.

On the Atlantic coast, the wind insurance is likely to cost much more than flood insurance, while on the Gulf coast the situation will be reversed – but in total the additional cost will be significant on both sides of the peninsula.

I’m certainly not saying that it’s a bad idea to buy on the coast – obviously millions of Floridians are doing it quite happily and enjoying the lifestyle – just to make sure you factor in the extra elements to your calculations.