Condos: Lancelot at Winter Park or Cabana Key in Casselberry? (Orlando: foreclosures, renter)

[dfeist87]

Does anybody have experiences with these two condo communities? Can you make recommendations or advice us to stay away? As always, your input is greatly appreciated!

Here are the addresses for those who know the area but not the particular communities:

Cabana Keys :

3724 Idlebrook Circle
Casselberry, FL 32707

Lancelot at Winter Park:

3651 N Goldenrod RD # A204
Winter Park, FL 32792

[kyle19125]

I'm not a fan of that area of Goldenrod Rd due to the heavy student population (UCF and Full Sail). The Cabana Keys property is an a great area surrounded by nice housing BUT is a former rental community that converted to condominiums. Bear in mind poor quality construction and high foreclosure rates are hallmarks of condo conversions. My advice while shopping the condo market is to look into condominium communities that were built as condos, most were pre-1990 construction and are well built, have far more owner-occupied units and have had far less foreclosure issues than newer builds or rental conversions. The big issue with foreclosures in condos is that the association relies upon all units paying their monthly fees in order to maintain the property. If a substantial number of fees aren't being collected that impacts the budget which leads to decreased routine maintenance and assessments to other owners to make up the difference when major repair needs to take place (roofs, plumbing, etc). Also bear in mind condo communities with a high proportion of renter occupied units leads to difficulty in bank financing in some instances, poor resale potential and of course the nuisance issues that often arises from renters should you actually be living there.

[dfeist87]

Thank you Kyle, I did not know to look for properties that were non-converted and built before 1990. On google street view, the Cabana Keu area looks very nice and the owner offered a flexible lease with a one month "trial period" upon arrival, which sounds quite tempting for somebody that does not know the area.There are so many things to keep in mind when house hunting in Orlando... The students on Goldenrod wouldn't necesarilly bother me, as long as the area is safe. My wife and I are both students ourselves

[kyle19125]

Originally Posted by dfeist87

Thank you Kyle, I did not know to look for properties that were non-converted and built before 1990. On google street view, the Cabana Keu area looks very nice and the owner offered a flexible lease with a one month "trial period" upon arrival, which sounds quite tempting for somebody that does not know the area.There are so many things to keep in mind when house hunting in Orlando... The students on Goldenrod wouldn't necesarilly bother me, as long as the area is safe. My wife and I are both students ourselves

Ahhh, your're renting...sorry for the long blahblah about buying. I would still go for the Casselberry location over Goldenrod. The students I mention would be more the partying 21-22 year olds which I'm guessing you wouldn't be so okay around.

[dfeist87]

thank you Kyle for your help! One more question... what about waterford lakes? I am also looking at this place,although it is on the third floor and in the back of the community. Is the area recommendable? 12603 Crest Springs Ln APT 1432, Orlando, FL 32828 - Zillow