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When you're looking to buy a home, it's really exciting to start looking for places, imagining what your new home will look like, and planning your future there. But buying a home is more than daydreaming about that dream spot. The process of buying a home can throw a lot of unexpected curveballs at you, so we put together the top 5 red flags to avoid when buying a home in Florida.
Keep these tips in mind so you can avoid the bad apples in the housing market:
A lot of homes in Florida have Homeowners Associations (HOA). Although HOAs maintain the neighborhood clean and well-maintained, some impose ridiculous rules.
From limiting how you can decorate the exterior of your house, to limiting how many cars you have in your driveway, and some are even as ridiculous as to prohibit certain colors of mulch.
Nothing will make buying a home more nightmarish than title issues. There could be unpaid property taxes from the previous owner, old liens, or disputes over who owns the property. These problems can delay or even cancel your closing.
It's smart to get an experienced real estate attorney, they go through documents like these every day and know what to look for. That way you don't end up paying for someone else's problems or getting stuck in a legal mess down the road.
Florida's weather can be pretty rough on houses, so after a while, you might see a home breaking down with cracks in the foundation, sagging roofs, or rotten wood. Some sellers might try to cover them up with quick, cheap fixes so you don't notice, leaving you with an expensive situation to fix, and an unsafe place to live in.
Get a good home inspector who knows what to look for, beyond just surface-level stuff. If something feels off, don't be afraid to walk away or try to negotiate before you make a final decision.
Let's be real, home prices have never been higher. If you find a home that costs way below market value, you're more than likely walking into a trap than into a good deal.
On the other side of that low price, you can find undisclosed damage, zoning problems, or a bad location.
The seller might have tried their best to hide any issues, so investigate why the home is priced so low. Have a home inspection done, consult with a real estate attorney, and make sure you're not buying someone else's burden.
You are buying a home in Florida, so preparing for hurricanes every year is part of living here. If the home you want to buy is in a flood zone, you might be forced to buy flood insurance, and it can get expensive.
Even past the cost of flood insurance, living in a flood zone when you deal with hurricane season every year is just not ideal.
If the house you like recently went through a hurricane, you'll really want to be careful with any possible water damage. It's always best to spend a little more for an in-depth inspection.
A remodeled home could make you fall in love with the place, a new kitchen, updated bathrooms, and unique backyard features. But if the previous owner didn't get the permits for these renovations, you could dig yourself in big and expensive legal trouble.
This is another reason a real estate attorney is smart to have, an experienced attorney will review all the documents to make sure you don't run into unexpected surprises down the road.
In Florida, a lot of people take shortcuts to make an extra dollar while trying to remodel the house or repair it after a hurricane. you don't want to find yourself paying for someone else's negligence.
Florida & Texas have trusted Borell Law with their real estate needs since 1989.
