Buying a house in Florida is a dream for many people across the country. What could be better than warm weather year-round? Sunshine? Beaches? Gorgeous scenery? Diverse culture? Before you pack up your belongings and put up a for-sale sign on your current home, there are some important things you need to know about the requirements for buying a house in Florida. If you are thinking of making the Sunshine State your home, let our buying house in Florida guide help you through the most important things you need to know.
Buying a House In Florida Guide Common Questions – and Answers
1. Market Conditions in Florida
If you’ve purchased a home before, you know well that market prices fluctuate like the tide. Knowing when the market is right for buying a home is important, but we can not always wait until conditions are perfect to follow our dreams. All over the United States, we have seen market conditions changing constantly, and Florida is no exception.
Buying a house at the right price is the best way to ensure you do not suffer financially later on down the road when the economy could be very different. We can do our best to predict the ups and downs of the economy, but there is no better way to stay afloat than to make sure you are buying a home within a reasonable price range for yourself.
Taking a close look at market conditions of the past, present and future is vital to your success as someone looking to purchase a home in Florida. Right now is a great time to buy a house as the median home price has gone down and there are homes available for purchase.
We can help you glean valuable insight from market conditions which will allow you to determine the best possible time for your home purchase.
2. Insuring your Home
Florida is known for its year-round warm temperatures and miles upon miles of gorgeous coastline. The very things that make it so desirable and enjoyable are the things that can wreak havoc on the longevity and safety of your home. Florida’s tropical storms including floods, high winds, and brutal hurricanes are part and parcel of this amazing coastal paradise. Unfortunately, you can not have one without the other. Still, that has not deterred thousands of people across the country from seeking out homes in Florida.
There’s no denying it, Florida can be a rough and tough place in terms of storms. That is why it is crucial that homes are measured rigorously against the latest building colds. If you are able to purchase a home built in recent years you can be satisfied that it is up to code and able to withstand a reasonable amount of troublesome tropical weather.
You will want to factor in the cost of insuring your new home into your budget. Some properties, especially older ones, will cost more to insure. You can get free advice from an insurance agent to determine the overall cost of insuring a home. You can also do cost comparisons between two or more properties to make the most informed decisions.
There are some factors that will impede your ability to insure a home or make it much more expensive. Some of the problems you may run into while looking at properties to purchase in Florida will show up more often in older homes. These problems include but are not limited to: roofing issues, older plumbing, improper wiring, and lack of hurricane straps.
- Roofing: Roofs that are aging or are not built to meet wind mitigation standards can be a huge problem in an area that experiences frequent weather events.
- Plumbing: Homes with older plumbing may have galvanized pipes which can be problematic for insurance due to the potential for corrosion and toxins.
- Hurricane Stripes: Newer homes are required to have hurricane straps installed. Older buildings do not have the same requirement which means they will be a bigger risk for an insurance company to take on.
3. Home Inspections, Home Inspections, Home Inspections
Home inspections are what’s standing between you and buying a home that has serious defects. You may be able to assess certain parts of the structure on your own, but a knowledgeable and fastidious home inspector will be able to find any issues you may have missed. Home inspections can save you from making a huge mistake and back you up if there is any need for legal recourse later. Think of an independent, objective home inspection as one of the major requirements for buying a home in Florida.
4. Closing Costs
Any buying a house in Florida guide that is worthwhile will tell you that you need to take Closing Costs into consideration. Florida is a state that is known for having higher closing costs than many others. You could close on a house for much less in other states, but why would you want to live anywhere else? Just keep in mind that you can work with a reputable and trustworthy agent who has your best interest in mind when it comes to negotiating closing costs. A seller’s agent will have the seller’s best interest in mind and not yours so you do not want to work solely with them.
When you work with an experienced builder, such as Synergy Homes, these steps are streamlined and simplified. Our team can help you navigate the steps and requirements for buying a house in Florida while ensuring you move into a safe, beautiful home that more than meets your needs – it will exceed your expectations.