Homes for Sale in Colonialtown North, Orlando

Before exploring the many options in the area, it's worth noting that finding the perfect place to live is more than just finding a house. It's about finding a community that fits your lifestyle. You want to look for a neighborhood in a strategic location with excellent amenities.

In the sections below, we have discussed all you need to know about Colonialtown North, from the general overview of the area to the nearby schools and attractions.

Colonialtown North, Orlando Overview

Colonialtown North is a well-established neighborhood in the northeast corner of Orlando, Florida. It's got all the charm and character of an old-fashioned town square, with tons of community events and festivals throughout the year.

The homes for Sale in Colonialtown North, Orlando, are diverse, and you'll find everything from Victorian homes to Spanish-style bungalows.

What Makes Colonialtown North, Orlando, unique?

One of the best things about Colonialtown North is that it's close to everything you need. Be it shopping centers, schools, government offices, restaurants, or other recreational facilities. Colonialtown North is also one of the most walkable neighborhoods in Orlando.

You'll always be able to get around by foot or bike. The area is also known for having friendly neighbors who look out for each other, which makes it an ideal place for families with children.

What Type of People lives in Colonialtown North, Orlando?

Colonialtown North, Orlando, has a diverse population, rich culture, and historical significance. The people who live here are from all walks of life. There are young families with children who attend local schools and older residents who have been living in their homes for decades.

The area is also great for retirees because of its proximity to downtown Orlando, which provides easy access to restaurants and shopping centers only minutes away by car or public transportation.

What is the Ethnic makeup of Colonialtown North, Orlando?

The ethnic makeup of this neighborhood is predominantly white but with large populations of Hispanic and Asian residents. Whites make up 63% of the population, while Hispanic, African American, and Asians make up 12%, 11%, and 6%, respectively.

Many languages are spoken within this neighborhood, with the most dominant being English and Spanish. Approximately 85% of the residents in the neighborhood are US-born citizens, with a population of around 3,600.

What is the Average Home price of Colonialtown North, Orlando?

Home prices in Colonialtown North, Orlando, range from $370,000 to $1.3M. As an upscale neighborhood with beautiful homes, the area attracts many professionals and young families that want to live close to downtown Orlando.

As of January 2023, the median home listing price in the neighborhood was $475,000. During the same period, the home prices in the area were up by about 30% compared to the previous year.

This shows that Colonialtown North is a rapidly growing and in-demand neighborhood that's considered a hot cake for the working class and even retirees.

What is the Overall Character of Colonialtown North, Orlando?

Colonialtown North has a very strong sense of community, and many activities are available for residents to participate in. The area is close to several parks and nature preserves, as well as shops and restaurants that cater to all different tastes.

If you love to get outdoors, there are many events held throughout the year by local organizations, clubs, church groups, and schools, which allow neighbors to get together socially.

And regardless of your taste and preferences, Colonialtown North is a great place to call home. You'll enjoy living in a quiet and peaceful neighborhood while still being close to the action of downtown Orlando.

How to Move to Colonialtown North, Orlando

Buying a home can be challenging. Nearly everyone would like to be a homeowner, but the bills and other responsibilities make saving up for this goal more difficult. For this reason, securing the right home loan is the most practical and ideal way to own a home.

Before exploring the homes for sale in Colonialtown North, Orlando, it is important to understand the factors affecting your eligibility. Such factors include:

• Raising the needed down payment.
• Having a good credit score.
• Employment/income verification.
• Proof of assets.
• A debt-to-income ratio.

All these requirements usually vary with lenders, but the key is to research what most lenders require to increase your odds of success. Another great tip when buying a home is to save up the down payment higher than the required minimum, as this will ensure you afford your desired home and decrease the loan amount you will borrow.

And since home ownership is such a great step, it's important to have a proper plan. And to have one, it is important to understand the current real estate market. You can do this with the help of a seasoned real estate advisor.

Having decided to hop into the homeownership journey, here are the mortgage loans available in Colonialtown North, Orlando.

• Conventional Mortgages - These are loans not guaranteed by the government, meaning private lenders such as credit unions and banks offer the loan without any insurance by the government. Such loans usually require borrowers to have high credit scores of around 620, a high down payment, and a relatively lower DTI ratio.

• FHA Loans - These are loans insured by the Federal Housing Administration. Borrowers can buy a home with a credit score as low as 580 and a 3.5% down payment. This makes FHA loans ideal for first-time home buyers or low/moderate-income earners who may not qualify for a conventional mortgage. The loan, however, requires mortgage insurance which may increase the overall costs of the mortgage.

• VA Loans - These are government-backed mortgages designed for U.S. military members and their spouses. The loan has no minimum down payment, credit score eligibility, closing costs, and mortgage insurance. VA loans will require you to pay a funding fee of 2.3% for first-time applicants or 3.6% for people who've taken the loan before. Having a down payment will, however, reduce your funding fee.

• USDA Loans - The government insures USDA loans for borrowers seeking to purchase homes in rural and sub-urban areas. Like VA loans, USDA loans have a low-interest rate and do not require a down payment. You will, however, need to have a credit score higher than 640 and a DTI ratio of 41%. The loan also requires mortgage insurance, but it usually costs less than an FHA loan.

• Jumbo Loans - A jumbo loan exceeds the FHFA limits meaning it's a non-conforming loan. Its eligibility criteria are usually higher and strict than conforming loans since lenders are at risk when giving the loan.

Do You Qualify for the Hometown Heroes Program?

The Florida Hometown Heroes program is a state-funded initiative that aims to make it easier for eligible full-time community workforce, employed by a Florida-based employer to buy homes in Florida.

The program provides income-qualified home buyers with a down payment and closing cost assistance of up to 5% of the first loan amount, capped at $35,000.

To qualify, you must be a first-time homebuyers and work 35 or more hours per week.

The Hometown Heroes Program also requires that you work with an approved lender who will handle all the paperwork involved in getting your loan approved. After you've found a house you want to buy and have made an offer, the lender will help you apply for funding.

Before submitting the application, ensure that your chosen home falls within the 2023 income and maximum loan limits for FL Hometown Heroes Loan Program.

Best Schools in Colonialtown North, Orlando

Colonialtown North is home to several excellent public elementary and high schools, private schools, and higher learning institutions.

Most schools are located a few miles from the neighborhood, making them quite accessible for parents who wish to drop their children at school before heading to work.

The schools listed below are known for their quality education and commitment to excellence. They also have high niche ratings and are trusted by most local parents.

The Best Public Elementary Schools Serving Colonialtown North, Orlando:

• Orlando Gifted Academy
• Laureate Park Elementary School
• Audubon Park School

The Best Public High Schools Serving Colonialtown North, Orlando:

• Winter Park High School
• Cornerstone Charter Academy
• Legacy High Charter School

If you prefer to take your kids to a private school, there are several options. Most private schools in the area have smaller class sizes, meaning your child will get more one-on-one time with their teachers, who can better cater their teaching style to suit the student's needs.

Private schools can also better prepare your child for college in terms of the academics they offer and their connections with colleges through their network. Some of the best private schools serving Colonialtown North, Orlando, include:

• Trinity Preparatory School
• Lake Highland Preparatory School
• The First Academy

As far as higher education is concerned, several institutions around Colonialtown North, Orlando, offer exclusive and diverse academic programs and degrees. Below are some of the notable institutions serving Colonialtown North, Orlando.

• The University of Central Florida
• AdventHealth University
• Concorde Career Institute
• UCF Business Incubator Orlando

Colonialtown North, Orlando Safety

Like most upscale neighborhoods in Orlando, Florida, Colonialtown North is generally considered safe. When exploring homes for Sale in Colonialtown North, Orlando, you should rest assured knowing that the area is peaceful and ideal for family living.

According to Niche, the neighborhood is rated an A+ and ranked among the top 10 best neighborhoods in Orlando.

And while no official data showcases the crime rate in the area, it's worth noting that Neighborhood Scout reports the area as having an above-average safety rating.

If you are relocating to Colonialtown North with your loved ones, you should expect a peaceful stay. Even so, you should still keep your home and property safe. Remember, safety always begins with you.

Colonialtown North, Orlando Careers and Salary

The economic health and diversity of Colonialtown North, Orlando, is commendable, thanks to the booming tech, retail, and housing sectors. Most people in the neighborhood work in Orlando and commute daily to and from work.

The median household income in Colonialtown North, Orlando, is $107,500. Approximately 18% of residents hold a master's degree or higher, while about 45% and 22% have a bachelor's and some college/associate degrees, respectively.

Most residents living in the neighborhood are office and admin workers, while the most paid professions are general physicians, engineering teachers, pharmacists, and benefits managers. Regardless of your profession, most homes for Sale in Colonialtown North, Orlando, are ideal for anyone looking for an ideal primary residential home.

Colonialtown North, Orlando Attractions and Restaurants

If you plan on going out with family on weekends, there are lots of places to explore and things to do in Colonialtown North, Orlando. Besides going on a bike ride or just walking around the neighborhood, you can visit the following places:

• Rebounderz Orlando - This indoor trampoline park in Orlando is ideal for a day out with kids. There's also a place for playing basketball, and dodgeball, among other indoor games.

• East End Market - Orlando is known for its vibrant food culture, and East End is the place you can shop for everything from local groceries to spices.

• Harry P Leu Gardens - This is an extensive botanical garden located some minutes-drive from Downtown Orlando. You can plan a two-hour walk around the garden with your family and enjoy the sight of the native wildflowers, among other unique plants.

When it comes time to dine, there are several options to choose from. Below are some family-friendly restaurants that serve different types of cuisine.

• Istanbul Grill - This is a popular Turkish restaurant serving mostly lunch and dinner. The common food includes Chicken Adana, Kunefe, and Lamb Chops. Everything in this restaurant, from food to customer service, is top-notch.

• Hawkers Asian Street Food - This restaurant is located along 1103 Mills Ave and is one of the high-traffic food joints in the area. Besides being pocket-friendly, the ingredients are locally sourced, and the services are high-quality. Popular food served includes curry Laksa, Mee Goreng, and Roti Canai Plate, among other Asian foods.

• The Strand - Located along 807 N Mills Avenue, The Strand is a typical restaurant that serves classic American cuisine. The restaurant is spacious, and if it's your first here, you can count on the help of friendly staff when choosing what to order.

Owning your Home in Colonialtown North, Orlando

With a rich history and a vibrant culture, Colonialtown North, Orlando, is the perfect place to call home. Once you are ready to explore the different homes for sale in the area, choose a local real estate agent and a reputable lender to work with. If you do this right, the process should be smooth and convenient.