Lake Nona or Bella Collina?

Question

I'm considering these two areas for my family of 4 (kids 8 and 6) to move into and we are planning to build a new house in the $1.5-2M range. Of all the areas around Orlando I visited recently, I liked Lake Nona and Bella Collina the most. Just wanted to get some more inputs on either areas from those that know these areas well.
Some of my considerations so far:
1. Location. Lake Nona is closer to everything, while Bella Collina is out there. But it seems like Clermont is getting a lot of new development and with the new Costco planned, might benefit that area in general. Neither of my wife and I are working from home, so no commute to consider. If we were doctors or nurses, Lake Nona would probably be the easy choice.
2. Schools. Kids are currently in public schools, but we'd send them to private if needed. I've heard good things about Lake Nona public schools but didn't really look into private options there. Montverde Academy would be an easy choice if we choose Bella Collina given the proximity.
3. Lifestyle. We are very used to the master-planned community concept and have lived in Irvine, CA before. Lake Nona has that same feel and is still growing. Bella Collina feels a lot more private/exclusive with the manned security and clubhouse amenities. Never lived at a country club type of property before, but it seems nice and the few residents I spoke to love the lifestyle.
4. Real estate. Lake Nona has these cookie cutter lots and houses back onto each other, but resale and rental markets are strong and many are moving into the area. Bella Collina has bigger homes and lots. For not much more money than Lake Nona, can build a home on an acre of land. But cost of ownership would be significantly higher in Bella Collina since owners have to pay mandatory memberships at the club. Might be a bit harder to rent out compared to Lake Nona if we decide to move again and turn it into a rental.
Any other factors that I should really take into consideration when deciding between these two options? Appreciate all the inputs.

Shawn McCormick · Answer

@John Zhang I live in Clermont and know Bella Collina well and do a fair amount of business in Lake Nona as well. Bella Collina is incredible and hard to compare to other communities around Orlando. It started many years ago and failed during the recession. It was brought back several years ago and now has a mix of luxury homes, mixed with more traditional builders like Dream Finders and Toll Brothers..both building great homes and golf course lots are available.

Montverde Academy is a big draw for this area and many more communities will soon surround Bella Collina with the likes of DR Horton, Pulte, Taylor Morrison and others building more spec type homes. The commute from there to downtown Orlando (<30), Disney (<30), Airport (30-40), Tampa/Clearwater (1.5) Cocoa Beach (>1). So it really is convenient and still growing. Taxes will be lower in Lake County too.

Lake Nona is growing at break neck speeds and is looked at as more affluent overall due to the high paying jobs in the area. Many space related jobs will live in Nona and commute, not to mention all of the tech and health care, so it will continue to be attractive and appreciate very well.  To me, the infrastructure if already lacking and retail business is still playing catch up, so you have to be willing to deal with that. Taxes are higher in Orange County too. IMO, the traffic patterns to Disney and Downtown Orlando are something to consider as they can be more congested even though the distance is similar to the Bella Collina drive. The airport and East coast beaches would be a plus if those are important to you.

We have toll roads everywhere, so that is worth mentioning. They add up pretty quickly and will be needed to get anywhere from either of these locations. Both areas are experiencing quite a bit of growth, but in Bella, you will be East of most of it and it shouldn't affect you as much, Lake Nona is congested and will be for years (depending on where you wind up).

I would also throw in Windermere if you haven't considered it yet. It provides 'status', luxury, location, great schools, prep schools/academies. It is also Orange County, so taxes will be similar to Lake Nona. It is very convenient to Downtown, Disney (you will see fireworks nightly!!) and higher end shopping and the best restaurants around.

Hope this helps, happy to discuss further if needed.

Best of luck to you!

Tyler Gibson · Answer

I would say that if this is not going to be your forever home then I would lean towards Lake Nona over Bella collina. The job growth and housing demand in Lake Nona is only going to go up. I also believe the real estate value in this area will go up as the sun bridge community in St cloud continues development. Sunbridge is being built by the same people that planned Lake Nona and it will have a similar feel. You can certainly get more house in bellacolina but the cost of long-term ownership with the requirement of golf membership would make this property not be worth it as a rental. Also your resale market for a golf club home with mandatory club membership might be a slightly smaller buying pool than a well-designed home in the Lake Nona area close for doctors.

Shawn McCormick · Answer

@John Zhang okay, that makes sense. I don't think it will be a difficult resale because it is so unique to the area. I know one of the salespeople for Dreamfinders and she told me that a big portion of her buyers are from Orlando..seemed Windermere was the most common are to move from). It will get better once it sells out.

If I was comparing the two areas for future resale, I would go with Lake Nona, it is more diverse and well known. It is more than just one community, its a city. People can live and work there.  Bella Collina is somewhat of a lifestyle choice vs an entire area, most would be commuting out of Clermont/Montverde as there is no real jobs market other than retail, or hospitality to speak of.

John Zhang · Answer

Thanks Shawn for the detailed feedback. I've seen the Pulte community facing the Dream Finders lots from Bella Collina. It's right off of the turnpike. My purchase is a bit unusual in the sense that I don't want to go fully custom and I can't do resale. Not fully custom because I don't wanna go through the financial hurdles of a custom home and no resale because we aren't relocating until at least 2025, so I don't want to buy a resale home and let it sit or rent it out. The only option around Windermere was Fire Creek by Taylor Morrison in Gotha, but that's all sold out. Do you think Bella Collina would be more difficult for resale/rental down the road if we decide to move again though?

Lake Nona or Bella Collina?

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