Things to Consider When Buying a Home in Florida

The population of Florida grew by 322,513 people from 2017 to 2018 making it the third most populated state in the country.

With 2,286 people moving to Florida every day, there are a lot of questions. When is the best time to buy a home in Florida? Is buying a second home in Florida complicated?

Are there a lot of homes for sale in Florida or is there a shortage? How do the home prices compare with other parts of the country?

We all have to agree that Florida is a great place to plant roots or own a vacation home. If you’re thinking of parking yourself in the Sunshine State, stick around to learn some tips on buying a home in Florida.

Tips on Buying a Home in Florida

Wondering how to buy a home in Florida? How different is it from buying a house anywhere else? What are some things you want in a Florida home that you don’t need elsewhere?

1. Insurance

Homeowners’ insurance can be a challenge. An older home that doesn’t have a roof that meets wind mitigation standards, or older plumbing, or outdated electrical will be harder to insure and definitely more expensive.

Depending on location, a lender may require flood insurance as well.

If you are closing on a home while there is an active hurricane, the closing will likely be delayed. Most insurers will not write a policy during this time.

2. No Attorney Needed

When you buy and close on a home, you do not need an attorney. A title agent completes and closes the transaction at the title company on closing day.

Of course, you may retain an attorney at your own cost for such transactions.

3. Homestead Exemption

If the home you buy in Florida is your primary residence, you may file for a Homestead Exemption. This reduces your property taxes and limits how much they can increase each year.

4. Hurricane Shutters

Depending on where you lived prior, you may not have thought about hurricane shutters. If you’re in an area where you’ll need them, look for a home that already has shutters.

You’ll want the accordion-style shutters for ease of operation. Any kind of shutters are a bonus but can be cumbersome and a lot of work to install when a storm is lurking.

5. Real Estate Agent/Transaction Broker

Any person with a Florida real estate license is the transaction broker. They can represent the buyer, the seller, or both.

Their job is to facilitate the transaction and never work unbiasedly for one party over the other. They are to act fairly and ethically for both parties.

Thinking about buying a home in South Florida? Wheaton Realty can help make your dream a reality.

Heading South?

Now that you have some tips on buying a home in Florida, you can get the house hunting off to a start. Do you like what you’ve learned here? Don’t forget to bookmark our site for easy access to news and tips daily.