Thinking about buying at Storey Lake Resort in 34746 but not sure where to start? You’re not alone. Resort purchases have a few moving parts that are different from a traditional home, especially if you plan to rent the property or you live out of the area. In this guide, you’ll learn a clear, step‑by‑step path from first visit to post‑closing property management, plus tips tailored to Osceola County and Kissimmee. Let’s dive in.
Why Storey Lake Resort
Storey Lake sits in 34746 near Kissimmee, giving you short drive times to Orlando’s theme parks and Orlando International Airport. That access is a key reason many buyers choose this area for vacation living and rental income potential.
You’ll find a mix of single‑family vacation homes, townhomes, and condo‑style options designed for short‑term rentals and owner use. Amenities often include a clubhouse, water park or lazy river, fitness center, and an on‑site rental or resort management office.
Expect layered costs such as HOA assessments and possible resort or rental program fees. Amounts vary by unit and change over time, so confirm current figures from the listing and the management company. Osceola County’s tourist traffic supports active short‑term rental demand, but occupancy and rates are seasonal. Ask for current rental performance when you evaluate a specific home.
Step 1: Define goals and team
Clarify how you’ll use it
Decide if the property will be for your family, for full short‑term rental, or a hybrid. Your use plan affects financing options, contract terms, and management setup.
Review the community’s rules for short‑term rentals, minimum stay policies, and any booking platform guidelines. Confirm owner usage rules if you plan peak season family visits.
Get preapproved early
If you’ll finance, secure a preapproval so you can move quickly on the right home. Second‑home and investment loans have different underwriting than primary residences, including down payment and reserve requirements. Foreign buyers often face higher minimum down payments.
Hire a local, resort‑savvy agent
Choose a buyer’s agent experienced with Storey Lake and Osceola County resort transactions. Ask for bilingual support if you prefer to communicate in Portuguese or Spanish. A local team can coordinate on‑site showings, management introductions, and remote closing steps if you are out of town.
Step 2: Write a strong offer
Nail the key terms
Your offer typically covers price, earnest money, inspection period, financing contingency, closing date, and whether furnishings convey. For turnkey sales, include an itemized list of included furniture and contents.
Earnest money is commonly 1–3% of the purchase price in this market. Set an inspection period that gives you enough time for general and specialty inspections.
Request the right documents
Ask for HOA or condo governing documents, budgets, and any available reserve studies. Request the seller’s rental program agreement and rental income history if offered. Obtain current HOA minutes if available and make your offer contingent on an acceptable document review.
Step 3: Inspect and verify
Essential property inspections
Schedule a general home inspection along with Florida‑specific checks: roof, HVAC, plumbing, electrical, and mold concerns. Order a termite/WDO inspection, which is standard in Florida, and a pool/spa inspection if applicable.
Insurance‑driven inspections
Insurers often require or discount policies based on wind‑mitigation and 4‑point inspections, especially on older homes. Ask your insurance agent which reports are needed and order them during the inspection period.
HOA and title review
Obtain the association’s insurance summary and an estoppel letter to confirm fees due and any rule violations. Ask your title company to run a full title search to check for liens, special assessments, or restrictions that could affect your closing.
Step 4: Financing and insurance basics
Loans for second homes and investors
Conventional financing is common for second homes and investment properties. FHA and VA loans generally apply to primary residences. Expect higher down payments for investment loans and for foreign buyers.
Your lender will order an appraisal. Appraisers consider rental income only under specific rules, so discuss valuation with your lender in advance.
Insurance in Florida
Florida homeowner policies often separate wind or hurricane coverage and include a hurricane deductible. Get quotes early so you understand premiums and any requirements.
If a property is in a FEMA‑designated Special Flood Hazard Area, lenders require flood insurance. Even outside those zones, many owners choose flood coverage. For attached units, request the HOA’s master policy details to understand what is covered vs. your responsibility.
Step 5: Closing options and logistics
Remote and mail‑away closings
Many Florida title companies support remote online notarization and mail‑away closings. If you live out of the area, confirm the title company’s process, document delivery timelines, and identity verification steps.
Wire safety and final walkthrough
Wire funds only using instructions provided by the title company, and always verify by calling a known number. Schedule your final walk‑through 24–72 hours before closing to confirm condition and any agreed repairs.
Keys, codes, and access
Coordinate key pickup or smart lock codes with the listing agent, title company, and on‑site management office. If an on‑site office handles key control, they will guide you on owner registration and guest access procedures.
Step 6: Management handoff and onboarding
Enroll in the rental program
If you plan to rent short‑term, schedule onboarding with the resort’s management team or a vetted third‑party manager before closing. Complete enrollment forms, set up your owner account, and review fees and commission structures.
Confirm housekeeping schedules, linen standards, emergency contacts, check‑in and check‑out protocols, and pricing strategy. Ask which booking platforms are used and how rate management works.
Furnishings, vendors, and utilities
For turnkey purchases, verify the furniture inventory during inspections and attach it to the contract. Collect or provide service contacts for pool care, pest control, HVAC, cleaning, and landscaping. Decide whether utilities will be in your name or handled by your manager and set transfer dates accordingly.
Owner portal and statements
Make sure you have access to the owner portal. Understand how monthly statements, 1099s, and reservation calendars will be delivered and who to contact with questions.
Taxes and local registration
Short‑term rental owners in Florida typically register with the state for sales tax and remit applicable local tourist taxes. Osceola County and the City of Kissimmee may also require a business tax receipt or local licensing for rental operators. If you are a nonresident or foreign owner, plan for U.S. rental income reporting and consult a qualified tax advisor on filings and potential withholding.
Suggested timeline
- Search and selection: variable
- Offer to acceptance: same day to several days
- Inspection period: 7–14 days
- Loan processing and appraisal: 30–45 days if financed
- Closing: 30–60 days with financing; cash can be faster
Timelines are typical ranges. Your deal may move faster or slower based on financing, HOA responsiveness, and document readiness.
Practical checklist
- Pre‑offer
- Get mortgage preapproval or proof of funds.
- Choose a local buyer’s agent with resort experience and bilingual support if needed.
- Review Storey Lake rental and HOA rules for your target unit type.
- Offer stage
- Set earnest money and inspection timeframe.
- Specify furnishings and contents in writing.
- Include financing, appraisal, and HOA approval contingencies as needed.
- Inspection period
- Order general, WDO/termite, pool, roof, HVAC, and mold evaluations.
- Request HOA documents, insurance summary, and estoppel.
- Obtain preliminary insurance quotes and required inspection reports.
- Financing and title
- Provide documents for underwriting and appraisal.
- Choose title insurance and confirm closing method.
- Pre‑closing
- Verify wire instructions by phone to a known number.
- Arrange remote notarization or mail‑away, or travel for in‑person signing.
- Provide proof of homeowner and flood insurance if required.
- Closing day
- Review the Closing Disclosure or settlement statement.
- Complete the final walk‑through.
- Confirm HOA transfer and key or code delivery.
- Post‑closing (first 30 days)
- Register for rental taxes if renting.
- Enroll with your property manager and finish onboarding.
- Transfer utilities and complete furniture inventory.
Your purchase team
- Buyer’s agent: local expert, bilingual if needed
- Listing agent or on‑site sales office
- Lender or mortgage broker experienced with resort loans
- Title company or closing attorney
- Home inspector and specialty inspectors (WDO, pool, roof)
- Insurance agent (homeowner and flood)
- HOA or association management
- Property or rental manager
- Local tax office and a qualified CPA
Common pitfalls to avoid
- Waiting on HOA documents. Request them as soon as you go under contract.
- Underestimating insurance costs. Get quotes and required inspections early.
- Assuming appraisers will count full rental income. Discuss valuation with your lender.
- Rushing wiring. Always verify instructions by phone using a known number.
- Skipping local rental registration. Confirm Osceola and Kissimmee requirements to avoid penalties.
Ready for next steps?
If you want a smooth, turnkey path at Storey Lake, work with a local team that understands resort purchases, bilingual communication, and property‑management handoffs. Our advisors can coordinate financing referrals, furnish‑and‑finish options, and a clean transition to your rental manager so your home is guest‑ready fast. Connect with us at Pristine International Realty to plan your Storey Lake purchase.
FAQs
What makes Storey Lake attractive for rentals?
- Its 34746 location near Orlando theme parks and the airport supports strong tourist demand, and homes are designed for short‑term rental with resort‑style amenities.
How much earnest money is typical at Storey Lake?
- A common range is 1–3% of the purchase price, but specifics depend on the listing and negotiations.
What inspections are most important in Florida resort homes?
- A general inspection plus WDO/termite, roof, HVAC, plumbing, mold, and pool/spa inspections are essential, with wind‑mitigation and 4‑point reports often needed for insurance.
Can I close remotely if I live out of state or abroad?
- Yes. Many Florida title companies offer remote online notarization or mail‑away closings. Confirm the process and timeline with your title company.
Do I need flood insurance in Kissimmee?
- Lenders require flood insurance for properties in FEMA Special Flood Hazard Areas. Many owners outside those zones still choose coverage. Check maps and talk to your insurance agent.
What taxes apply if I rent short‑term?
- Expect state sales tax on short‑term rentals and local tourist taxes, plus possible local licensing. Register before hosting guests and file returns as required.
I’m a foreign buyer. Are there extra steps?
- Financing and tax reporting can differ for foreign buyers, including higher down payments and U.S. rental income filings. Engage a lender and tax advisor early.
