Earlier this year Lorraine Gray and Ian Bailey bought a five-bedroom property at Watersong, a popular resort in Davenport Florida. The Sunshine State has always been part of Lorraine’s life and buying there seemed a natural choice.
The couple from Southend-on-Sea began to focus on central Florida where Lorraine had holidayed as a child and where there is a great prospect of holiday rental returns. Lorraine, 39, an accountant. “We wanted a good-sized property that works for couples as multi-generational families. A big tick for Florida was the year-round appeal for global tourists. The Cotswolds just doesn’t have the weather.”
“Florida has an all-year round draw for people around the world. You have a huge domestic market travelling into the state too,” says Lorraine, 39, an accountant. “In the Davenport area you are able to create a business around one of the biggest businesses out there - Walt Disney World. The investment into the parks is staggering with many set to expand in coming years.” She points to the new opening of Epic Universe in 2025. “The constant draw of people and increased ‘footfall’ presents an opportunity for home owners.”
The couple’s journey started at A Place in the Sun Live at Olympia back in 2018. Then Covid de-railed their property-hunting plans for three years and it was last year they began to get their plan back on track. They were focused on finding a property within the $450-$525,000 range and were looking for a five-bedroom property that would work great for couples, as well as having enough space for multi-generational families, to broaden the rental appeal.
Through Homes of America – whom they first met at Olympia – they purchased a property at Watersong Resort after a trip out in October 2023. The attractive low-density gated development of woodland and lakes has a clubhouse and fitness amenities, and is 30-35 minutes from all the key theme parks. It’s a mix of second-home owners and rental properties.
Their open-plan 3,256 sq ft fully furnished property villa with pool, games room and mini ‘cinema’ room is ideally set up for guests. “The property was in great shape and just needed some cosmetic work,” says Lorraine. The couple got a foreign investor mortgage of 30% of the villa’s value and spent 5% extra on closing costs. “It’s not a cheap investment but it’s one that not only will our family enjoy, and we fully expect the occupancy rates possible will cover running costs.”
These include insurance and taxes, paid with the mortgage. “These could be in the region of $2-4k and $5-7k annually, depending on policies and property values. There are property management fees, and maintenance / wear and tear costs that come with owning a vacation rental too.” Home ownership association fees are $1,500 per quarter. She recommends that buyers keen to purchase a rental investment have sufficient working capital whilst building up their rentals and client base, as this can take time.
The couple have had a good response so far. They have started renting it out since the Spring and already have plenty of bookings for the first half of 2025. In February/March, the ‘snowbird’ renters from the northern United States and Canada tend to be a highly steady market. Their rate is $185 - $245 per night plus taxes and fees, depending on season.
A good rental home sees occupancy of 40-50 weeks per year, with yields sitting around 8-10 per cent, according to Zoe Attwood of Homes of America. “Anything with between three and six bedrooms would do well, within a 30-minute drive radius of Walt Disney World.” Lorraine and Ian love travelling to the United States from their new base in Florida. Although they are still busy working in the UK – Ian, 44, is an electrical engineer – they are thoroughly enjoying their new project.
“I have trained to become an independent travel consultant, enabling me to offer our guests a full concierge service,” says Lorraine. Homes of America is managing the home, giving them peace of mind when they are back in Essex. You can book Sunset Palm Villa for a stay, or search for a property in Florida to buy.
Read more:
- 10 Best Places to Buy Abroad 2025
- Seven things to know about home insurance in Florida
- The five biggest mistakes when buying in Florida
