Purchasing An Existing Florida Home

Category: Finance, Real Estate.

If so, then there are several things that you need to consider.

Also, older homes may have hidden repair and remodeling costs that the buyer has not considered. The tropical climate is one of the benefits of living in Florida, but it does present unique challenges when it comes to buying or building a new home. The educated buyer would do well to take all of these factors into consideration when deciding on whether to purchase an existing home or have a new home built. At this time, there are a flood of existing houses for sale in Florida. Purchasing an existing Florida home. Market conditions now heavily favor the buyer, and many Florida home buyers are looking to take advantage of these conditions by finding a great deal on an existing home. The buyer may think that they are getting a new home at a great price, they could end, but in reality up spending a great deal of additional money before the home is ready for occupancy.

However, buyers must take into consideration some of the repair and remodeling costs that may come with an existing home. Older homes are especially prone to needing costly repairs. Electrical and plumbing systems age, wood frame homes are often susceptible to wood rot and insect infestation, and appliances wear out after years of use. On average, a Florida home begins to require major repair and remodeling after twenty years. Many older homes were built before lead paint restrictions were put into place, or were built without central air conditioning and heat. Building a new Florida home can save you money.

Older furnaces are often unsafe and are expensive to remove, and it is difficult( not to mention costly) to install central heat and air in homes with out- dated electrical systems. Building a brand- new custom home may be more affordable than you think, and will alleviate several of the home buying worries that come with an existing home. There is no need to worry about replacing outdated electrical, air conditioning and, plumbing heating systems. If you consider the fact that you will not have to spend a penny on repairs or remodeling, a brand- new home will likely end up saving you money in the long run. There is no fear of wood rot, water damage or insect infestation. Hurricane protection is another area where you can save money by having a new home built.

Everything is brand- new, and often under warranty. Many existing Florida homes were built before stricter hurricane building codes were put into effect, and even newer homes may not be built to withstand a strong hurricane. These builders use solid concrete construction, additional roof truss straps, and impact resistant glass to provide the highest level of hurricane protection for your home. Today there are home builders in Florida who are offering homes built to withstand a Category 4 hurricane. In addition, these above code homes can save you money on homeowner s insurance premiums. No need to spend time and money on messy remodeling projects.

Many insurance companies offer discounts to homeowners who purchase homes with these protective features. When you decide to have a custom Florida home built, your builder should provide a wide array of style and d�cor options. This means that you get the home you want: a home that reflects your personal taste and style. You choose the floor plan, interior and exterior colors, cabinetry, flooring, and lighting for your custom home. In a brand- new home, floor plans are often more airy and spacious than those found in older existing homes. The homes are usually pre- wired for ceiling fans, and there is, cable and internet an increased number of electrical outlets in every room.

Appliances are up- to- date and top of the line. These are all features that you would likely have to pay to add to an older existing home. Finally, you can save money on a brand- new custom built home by purchasing your home directly from the home builder rather than acquiring a realtor to negotiate your purchase. Purchasing a new home from a builder saves on commission costs. If a home builder does not have to pay a 3- 6% commission to a realtor, they will often pass these savings on to you by reducing the price of the home or adding additional features and upgrades free of charge. It may be much more affordable, not to mention less stressful, to build a high- quality custom home instead. In the long run, purchasing an older existing home, even in the current buyer s market, may cost you more money than you think.