Clueless brits failing in florida?

Brit investors are making mistakes when buying property in Florida, claims one expert…

Andrew Bartlett, An emigration and property specialist, explained: “The impact of the credit crunch in Florida has resulted in a big rise in repossessions, presenting a good opportunity for first-time buyers. However British people are not buying the best bargains.

“Investors need to seek independent advice when buying abroad to discover where the best investment opportunities are located.

“The problem is that so many British people buy on the basis that the properties seem a lot cheaper compared to the UK but they’re not necessarily buying the best bargains in Florida.

Avoid theme park Florida?

Mr Bartlett continued: ”Many Brits invest in Orlando, central Florida, near to the theme parks but the housing situation there almost un-saleable in some areas”.

According to statistics from the Institute for Public Policy Research, published on the BBC website, 678,000 Britons lived in North America in 2006. Information from the Office of National Statistics showed that 14,000 UK residents owned second homes in the US in 2003/04, increasing from 11,697 the previous year.