Smart Buying in Florida

by Natalia San Filippo 09/13/2020

 Photo by Jens Neumann via Pixabay

There are a lot of decisions that you will make when buying your first home in Florida. As detailed as the process is in other parts of the country there are even more things that you will need to pay attention to avoid major errors in the home buying process. When you first start looking at new homes everything is really exciting. And it is during those moments when costly and major mistakes can be made. Here are some mistakes that some people have made when buying a home in Florida and how you can avoid making the same error.

Buying that first forever home may seem like a dream come true. But it can become a nightmare come true if you do not avoid making gross errors along the way.

Looking Before You are Ready

Home buying is an exciting decision and sometimes people get ahead of themselves and look before they are ready to buy. To avoid this mistake, go over your finances first and determine what kind of payment you can afford. This will help you decide the size of the home and price that you can start looking for. The nightmare begins when you find a home that fits your family and you have not started the process of financial approval. Most of the time the home you want will have sold long before you have the money ready to make an offer.

Three is Better Than One

Some homebuyers make the big error of talking with one lender. All financial institutions are around to make money. They charge an interest rate on the money they loan out expecting to make a certain amount of profit on the loan. This is where the solution comes in to play. By talking with at least three different lenders you can find the lowest interest rate. 

You will also find that some lenders make it hard to buy in Florida because of the high risk of wind and storm damage. You may want to work with a local lender who is familiar with the area and can give you a good rate based on your financial responsibility score rather than what they think Florida is really like.

Leave Some in the Bank

Buying a new home means making a move. Most people do not like to move. And if you are moving to Florida, chances are you are making a major cross-country move. It will cost you quite a bit to relocate, so it would be a good idea not to drain away all of your money buying a home that is big or expensive for you. And you certainly do not want to buy a home that has existing hurricane or storm damage because the cost to repair is astronomically high. Determine ahead of time how much money you will need to move with and how much you can use to buy your next home. And then, still, leave some extra in savings for when you arrive. 

Not Every Neighborhood is Right for You

Do not fall for the trap that every neighborhood is a vacation zone in Florida. There are still good and bad ones just like everywhere else in the country. Do your homework and ask your real estate agent about the neighborhoods. You may also want to check on the surrounding areas, from the swamplands of Gainesville to the Everglades of southern Florida. Each area has its own uniqueness about it, and often times, the cultures center around that uniqueness.

About the Author

Natalia San Filippo

Greetings from beautiful Naples Florida! Having grown up in Siberia, in a challenging environment I have a deep appreciation of our wonderful Southwest Florida climate and lifestyle. The journey that led me here has fueled my drive to be the best at everything I attempt. My natural enthusiasm for my work is contagious, and clients know that I am "giving my all”. My deep dedication to my family that includes my two adult children and my four fabulous grandchildren. My family reminds me every day that considering family first in one’s life requires an exceptional "home base” for everyone to gather for events and holidays. Everything in my life has equipped me to be a fabulous realtor at Premiere Plus Realty. Naples is cosmopolitan and international harmonious environment, positive energy and lifestyle. As a certified yoga instructor, I believe in and understand the importance of balance in one’s life. It’s through my yoga practice that I have achieved peace and harmony in my life. It’s this peace, harmony, and enthusiasm that I wish to pass to my clients. My goal is to continue to serve you!!! It is my mission! It is my goal! Let’s get to work together! Natalia Realtor, specializing in Residential sales, New construction, seasonal rental, VA homes, First home buyers, listings, sales. I service Naples, Bonita Estero, Marco Island & Ft. Meyer's as well as SW Florida. I appreciate referrals and I help with referrals in other States.