Sarasota Real Estate News

Over 1,200 people are moving to Florida each day. 55Places had a recent article, "Understanding Florida Homeowners Insurance: What to Expect and How to Prepare." 

Potential buyers: become familiar with the types of home construction materials and how much property insurance will cost. If the home is being financed, you’ll need flood insurance if the home is in a flood zone. Is it worth the risk not to have homeowners' insurance? I don't think so but these things affect a retiree's decision to relocate to Florida. 

 Since some insurance companies are not writing new or renewing current policies, many people are turning to the state-backed Citizens Property Insurance Corp. Regulators approved proposals that could lead to private insurers pulling as many as 184,000 policies from Citizens starting in October. Shifting this from the state into the private sector lessens the financial risks if Florida gets hit by more major hurricanes. 

 When I’m working with buyers, I always find out the age of the roof and the air conditioning system since those are costly to replace. I drove up to Sun City Center this week to look at a property for a NJ couple coming into town next week. After researching the community regulations, we found that grandchildren under the age of 18 are not welcome. The home was built in 1999 and the roof is original. My buyers are no longer interested. 

 Other Florida trivia: Florida is retirement-friendly when it comes to taxes; Sarasota Memorial Hospital is a top-ranked medical provider, and the City of North Port just welcomed 71 new businesses. So don't let higher insurance costs stop your move to sunny Florida.

Thank you for reading my blog and let me know if you have questions about relocating to Florida and purchasing your retirement home. 

Linda Holley, Realtor, GRI, SRES, CIPS, Fine Properties, Sarasota, FL  941-914-4914