Things To Know When Buying A House In Florida
Looking At The CentralFlorida Real Estate Market Then Here Are Things To Know When BuyingA House in Florida
Purchasing property is a major financial decision, especially ina prime market like Central Florida. What are the things to knowwhen buying a house in Florida?
- Location, location,location. Whether you’re buying ahouse to live in or as an investment, locationmatters. For residential property, you’d want to look athomes near the essentials—hospital, schools and retailcenters, to name a few. You’d also want to consider easyaccess to public transport or major roads and highways.
- For an investmentproperty, the location of your home determines how soonyou can earn a return on your investment. It also dictates yourmarket. If you invest in luxury homes by the beach or with aseaside view, your target market would most likely be tourists orretirees.
- If you opt for moreaccessible housing, you should consider purchasingproperty closer to universities or business districts. This willattract students, school staff, and young professionals.
- Rental strategy.For an investment property, you need to decide whether you want itrented long-term or listed for short-term vacation rental (akaAirbnb). This will depend on your property’s location andyour timeline for return on investment.
- Real estateagency. Working with local real estate agents who know theins and outs of the market can make a whole lot of difference.Buying a home is not always a straightforward transaction. Gettingprofessional help ensures you don’t miss any important stepin the process.
Additional Pointers Before House Shopping InFlorida
Buying a house is not just about being able to afford it. Alsocrucial to the process are decisions you must make along theway.
- Property survey. Obtaining a survey of yourproperty gives you a better understanding of your perimeter. Thisis valuable information; in case you have to deal with a boundarydispute or any other sort of legal obligation. It can also identifyunderground waterways. This can affect construction plans and yourproperty’s value.
- Insurance. For starters, you’ll needtitle insurance and homeowner’s insurance. The former is atype of insurance that protects you (or the lender) from priorrights or claims and from unpaid debt that other people may have onthe property. The latter is not actually required in Florida. Butmortgage lenders often require it as part of your contract withthem. A regular policy will cover structural damage caused by fire,storm or leaks, and loss of property from theft.
- Inspections. If you can, hire a professionalfor a comprehensive inspection of your property. But you can opt tofocus on a particular issue like termites or specific parts of thehouse like the roof. You should also check for health hazards inyour area or in your new home, especially if it’s an oldproperty.
Other factors to consider include permits for modifications,closing costs, and taxes. A reliable agent should be able to guideyou through the process, especially the complex technicalities.
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As a premier Central Florida real estate company, our mission issimple. We provide honest, timely, and adaptable service to all ourclients. We serve buyers, sellers, owners, and tenants incommunities like St. Cloud, Lake Nona, Kissimmee, and of course,Orlando. As long as its Central Florida real estate, we’vegot it covered.
With over 10 years of on-ground experience, we have built a vastnetwork of local partners. We leverage these connections to helpour clients achieve their real estate goals. Check out our websiteor give us a call today.