Owning property in Florida does not give any rights to live or work there. You will have the same restrictions as any other tourist. There are various visas which allow longer stays, employment status etc. to check them out visit The American Embassy web site.
A very good question !!! Whilst budgets & personal preferences will obviously be a factor, other considerations arise. Due to huge commissions offered by Builders to Realtors & Agents to help promote & sell their homes, biased advice will prompt the unwary to only look at new property. The large number of UK web sites offering 'free' advice, from 'Villa owners' who are "pleased to recommend their wonderful Real Estate Agent" are merely attempts to share this bounty via a recommendation fee. They do nothing to help in the investment & have no Legal or Moral responsibility to the purchaser. When selling rental property many Builders 'bundle' the furniture package in with the mortgage, whilst this reduces the cash injection required, it may adversely effect the ability to pay off the mortgage on resale as the apprasial will not take the furniture into account when valuing the property. If you buy at the beginning of the build, it may be months or years before the Estate is finished, this will mean that you and your renters may be subject to noise and dust whilst on holiday. Should you need to sell quickly you may suffer a loss as you will be competing with the Builder on the same site. Most new homes wherever built will suffer "teething troubles" so it is imperative that your agent offers an inspection & walk through service to minimise the impact on renters. Marketing the property will be from a standing start, so you may need to subsidise the outgoings for some time before the returns reach acceptable levels. The positive view to new purchase, is the ability to chose the plot (south facing or lake view, corner lot, conservation views) decor, pool design, kitchens etc. Also some recent developments have attracted 'premiums' from the release date, allowing investors to make a 'flipover' profit on resale prior to building. (The Builders are putting steps in to avoid this practice.) The new property will be Architecturally current which will appeal to renters. There should be Builders warranties or guarantees in place (some are better than others)
It must be zoned for Short term rental (if you need to rent it out of course). The furniture is usually included. It may come with management, bookings and a rental database enabling immediate returns on investment. The sub division is probably complete so no building work, empty sites, noise or dust. Any 'teething problems have been eliminated. The buyer can more easilly determine the style, appeal and nature of the Estate as to occupants, cleanliness, security etc. The price is the realistic selling price (Your Realtor ® should provide a CMA) which means you should be able to sell without too much loss in an emergency. The seller should have current utility bills to demonstrate the real running costs. Florida law requires sellers (and their Agents) to identify all known defects in the property. Home owners warrenty can be negotiated. If the property is a few years old the Lot sizes and Pool areas may be larger, the pressure on land for building and pricing has meant the newer properties are built closer together and pool sizes have reduced. Gardens and landscapes will have matured, privacy can be better as residents tend to erect fences to the rear and sides of their property. The downsides are few, contingency budgets need to be included to cover replacing some furniture and equipment. Some re-decoration may be needed.
Whilst it is possible to manage a Florida Villa from the UK this is not a task for the new owner or the faint-hearted. Most foreign owners choose a Management company to oversee the property, clean between lets, schedule ongoing maintenance and handle the renting of the property. This is done for a monthly fee. They can pay all the bills, but it is a simple task to arrange direct debits from your own US. Bank, and this is the safest way to avoid problems.
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