Buying a new house in a new place is always exciting, but it’s equally daunting. Everything from the local economy to your financials and market in Florida will impact what home you buy and how much it costs.
It would be a lot easier when you know more about the steps to buying a house and the recent real estate trends in Florida. Then the better you’ll be able to navigate your choices.
So, here are the top tips before buying a dream house in Florida.
- Evaluate Florida’s Housing Market
For the last couple of years, Florida’s housing market has been on the rise, but it fluctuates consistently.
Like all major purchase, you should know the details and what is worth you’re buying. A house shouldn’t be an exception.
Before moving to Florida, understand the State’s market & research potential areas. If you’re moving just for work purposes and are willing to live outside of your workplace area, it is highly recommended to look for a peaceful place, either not too far, but somewhere you will have fun.
Do you want to escape from big city? Fortunately, outside of Florida’s major cities such as Orlando, Miami, Orlando, Jacksonville, and Tampa, that are onr hour drive from the crowded downtown areas. These areas provide an escape from city life, are more affordable and, provide you a real Florida experience.
Always do your research before moving. Search for new developments and local areas’ future growth. This is one of the essential steps and requires a lot of dedication and time.
- Evaluate your budget
If you’re dreaming of buying a Florida property, prepared to take out your wallet as Florida is expensive & popular to live in. Because means private mortgage insurance for standard loans is not available in the State.
Moreover, for the approval of a conventional single-family home sale, you’ll need a down payment of at least 20-25%.
- Choose the Right Property
Perhaps another most important Florida home tip is finding a peaceful and welcoming place before starting your house search.
Home is about the community, lifestyle, and right neighborhood surrounding the house. For some, their ideal Florida house may be a brand new home close to Disney, while for others, it’s an ocean-side bungalow.
Before buying, make sure the house you choose has all the daily life facilities you need nearby to make it your perfect home choice.
- Find a Reliable real estate agent in Florida
It is highly recommended to hire a trustable and reliable real estate agent regardless of selling or buying a house.
When purchasing a home or apartment in Florida, the process is more daunting if you’re alone. Hiring a reliable real estate agent makes it easier, plus it prevents you from scams and frauds.
- Don’t Be Afraid to Negotiate
Every year, thousands of people move to Florida, not including other Florida residents who move from city to city.
Even it seems like you may lose the home for asking such a lower price, many sellers are open to negotiation, so negotiate it. It would help you save thousands of dollars!
- Insurance and Taxes Rates
Florida is home to beautiful beaches and the nicest weather, but it also has to deal with a hurricane. Property taxes vary depending on where you want to live, which could be a deal-breaker. Seek alternatives and check the history of the area before you settle on one locale.
- Be Prepared for Hurricanes
Every year there is always a chance of tropical depression, storms, or hurricanes may hit Florida state.
Though many of these storms do not cause notable damage to Florida, the homeowner should always be prepared for the worst scenarios. Purchase shutters, wood, a hurricane-rated garage door, and a generator for backup in case of a storm.
Always have an emergency kit ready and stocked with supplies like water, food, first-aid equipment, and flashlights to help you when a natural disaster occurs.
- Inspections and appraisals
Once you find the perfect home in the State, you will need to have a thorough inspection conducted before the final deal. This will help you from purchasing a home with material defects and flaws.
A home inspection must consist of the following,
- The soundness of the structure and foundation (including the roof)
- Termites & other pest infestations
- Soil erosion and drainage issues
- Noise and odor problems
- The presence of mold
- Heating & cooling systems,
- Check drainage, electrical & plumbing issues
- Inspect ceilings, walls, windows, paint, basement, or flooring
- Inspect & flush toilets
- Check keys (or smart lock technology) for all the doors
- Key Takeaways
Though buying a new house is a time-consuming process, but it doesn’t have to be overwhelming. If you know what tips or steps to follow and have a reliable real estate agent by your side, then you’ll find the perfect home in Florida in your budget.