So many buyers are instantly drawn to the prices in the Bimini Bay townhouse community which is located in Davenport, FL. They see the beautiful townhouses online and most wonder why they are so cheap! You know how the saying goes: If it seems too good to be true it probably is and this couldn’t hold more true for Bimini Bay in Davenport.
The Bimini Bay community was supposed to be a resort community that would stack up with the likes of resort neighborhoods like Regal Palms and Bahama Bay. It was supposed to have a water park, day spa,gym facilities and many other cool toys but when the market turned many buyers started backing out of their contracts and just not buying all together, this brought construction to a very quick halt!
Here we are in 2009 and there still is not a clubhouse or pool, and only some of the townhouse buildings were completed. Many people are still hopeful that once the market gets stronger and more people start buying they will resume their original plans and finish the neighborhood. This would be huge news for Davenport as I would love to see another townhouse community that can compare to Regal Palms to give buyers more options.
Bimini Bay still isn’t the worst deal on the block as the townhouses are super inexpensive and if your goal is to buy low and sell high than they are definitely low! The only problem you will run into is that you won’t be able to rent them short term because without the clubhouse and pool they are pretty much not an option for 99% of Orlando tourists who will stay in a vacation rental. You can however rent them out long term and offset your expense that way.
My final opinion on the Bimini Bay townhouses is that they are nice places for a good price but not a good investment for vacation home buyers. . . definitely more for end users and investors who dont mind being landlords.