If you are considering a move to South Florida, this guide will help you know what to expect and find the best piece of real estate for your circumstances and budget. South Florida has many different cities, neighborhoods, and types of homes from Martin county to Miami.
Whether you are single, starting a family, or getting ready to retire, South Florida offers many home choices. Whether you want a single-family home, condo, townhouse, or luxury property, the South Florida real estate market has you covered.
The median home sales price in 2019 was $350,000 in Miami-Dade County and $345,000 in Palm Beach County. South Florida real estate can be pricey, so it is vital to carefully research a city and neighborhood to ensure it will fit your budget.
8 Things You Need to Know About South Florida Real Estate
- Homeowners Insurance is Expensive – Mortgage lenders will require Floridians living in flood zones to carry flood insurance. In coastal areas, a homeowner may be able to obtain homeowner’s insurance only through smaller insurance companies, since most major insurance underwriters will not write homeowners policies in South Florida due to the potential threat of destructive hurricanes.
- Property Taxes do Not Remain the Same With Different Owners – When a new owner purchases a Florida home, the property is reassessed to market value, and the new owner pays that value. A buyer should not rely on a seller’s tax bill as guidance for the amount of the buyer’s property taxes.
- Title Insurance – Depending on local custom, either the buyer or the seller is obligated to pay for title and closing services. Whichever party pays for these services chooses the attorney or title agency to render those services..Florida National Title is affiliated with Michele M. Lewis and Richard S. Weinstein, both of whom are knowledgeable and experienced real estate attorneys.
- Commuting Times – Distance matters. Choose a home that makes your commute to work as short as possible and drive the route on weekdays and weekends to determine the most accurate drive times.
- School Districts – Families should know which schools they are zoned for on the school district’s website. In Florida, each county has their own school district, but not all schools are equal, even within the same county. Speak to neighbors, view statistics and evaluate for yourself if the school you are zoned for will meet the needs of your children.Families can also look into charter and private schools.
- Homeowners Associations – Many neighborhoods have homeowners or condominium associations. There is an extra cost associated with these associations, which vary from area to area. Associations protect property values and offer shared amenities, such as pools and gyms, and often have myriad rules which must be observed. If you have a pet, make sure there are no restrictions which would affect you.. It is vital to research the association before deciding to buy a home in that neighborhood.
- Hurricanes – Hurricanes are a real concern in Florida. The hurricane season lasts from March until November. Due to active hurricanes in the past few years, Floridians are even more conscious about protecting their homes. Impact-resistant windows or hurricane shutters are standard and often entitle the owner to a discount on their homeowners’ insurance. Coastal residents are often encouraged to evacuate their homes when a hurricane approaches.
- Swimming Pools – A swimming pool can be an excellent convenience when and may provide relief from Florida’s heat and humidity. However, pools can be very costly to add and may prove expensive to clean, maintain, and heat. If a homebuyer knows they will use a pool, they should research and tour homes with a pool already built.
Florida National Title Services
Florida National Title is available to help with many of your real estate needs. Florida National Title Services works under the supervision of attorneys Michele Lewis and Richard S. Weinstein, experienced real estate attorneys. They work to ensure the title of the home you desire is clear and marketable and that title insurance policies are properly issued.
Florida National Title Services provides expert title services. When you are renting, we can help with every step of the way. Florida National Title has years of experience guiding Florida homebuyers through the real estate purchase and refinance experience and have helped them solve the problems that come up in the process. We will decipher the “legalese” and explain what we need and why we need it each step of the way. The blogs to follow will address specific issues to guide buyers to understand the process better and to help them avoid many of the pitfalls. Call us at 561-408-0729 or visit our website.
Florida National Title Services, LLC
250 S. Central Blvd., Suite 101
Jupiter, Florida 33458
© Copyright 2020. All Rights Reserved.