Although recent weeks have seen sterling weaken against the dollar there is still potential for great returns when searching for a holiday home in the Sunshine State. Kelly Cutchin, Moneycorp U.S. country manager, shares an insight into the property market and tips for those considering property investment in Florida:
“The most popular locations for British investment are in Davenport, near the theme parks and on the coast. The average purchase price in these locations range between $175,000 to $350,000, depending on size and proximity to attractions and beaches.
“If you buy well, there is definitely a money-making opportunity through short-term holiday lets. With many Brits only using their house for a month at a time, renting when it is not in use ensures you cover your costs, or even gain a profit.
“When managing your property, speaking to a currency specialist can streamline processes, especially when transferring money out of America.
“With Moneycorp you can sidestep the typical 8-10% margin of US banks and avoid other complications associated when managing payments to and from the US.
“This seamless management will allow you to spend less time managing your investment, and more time enjoying your very own place in the sun.”
With guidance from the foreign exchange experts at Moneycorp, you could save thousands on your overseas property purchase. Moneycorp has been dealing in foreign exchange for over 35 years, in the last year alone they dealt in nearly 100 different currencies. Their experienced dealers will be able guide you through the foreign exchange market and help you cut through any red-tape you might encounter when making your international transfers.
■ For competitive rates and the exclusive City A.M. offer of free online transfers, call free on 0808 115 3718