The real estate market in South Florida is booming, and for us Miamians, it’s not surprising to see why. With plenty of sunshine, beaches, and endless opportunities for entertainment and culture, buying a home in any of our great communities is a no-brainer.
But buying a house is not all sunshine and roses. There are some serious considerations you need to take above and beyond assessing its curb appeal, cost, and location.
Here are four important things to know if you’re buying a property in South Florida:
- Hire a real estate attorney – While the state of Florida does not require an attorney to be present during closing, hiring a real estate attorney when looking to purchase a home in South Florida is a good idea. Not only will you be wading through countless pages of documentation for everything from securing a mortgage to signing purchase agreements, titling, insurance coverage, and more, ensuring that you have sound legal guidance on your side can also save you thousands of dollars and give you serious peace of mind when making such an investment for you and your family.
- Get a home/wind mitigation inspection – Buying a home will likely be one of the biggest purchases of your life. Make sure it doesn’t cost you more than it needs to by getting a home inspection done on the property before you close. The purpose of the home inspection is to ensure that your property is safe – both now and in the future. A certified home inspector will evaluate every inch of your property to assess current and potential future damage that could be costly (and unsafe!) if not repaired.
- Look at flood zones – Evaluate whether your property is in a flood zone and how prone it is to frequent flooding, as this could signal trouble if not adequately planned for.
- Understand your options for homeowners insurance –In Florida, property insurance is expensive. In fact, it’s one of the most expensive in the nation. Before closing on a property, do your research on insurance companies and policy options that may be available to you. The outcome of your wind mitigation and 4-point inspection may also affect the rates you are quoted.
Don’t know what any of the above really means and looking for someone to walk you through understanding everything, do not be afraid, pick up the phone and call Silverberg | Brito, PLLC today for you no obligation, no cost consultation today.
Lastly, as South Floridians, it’s always important to be ready for storm season. Check out our hurricane checklist so you’re prepared when disaster strikes.
Buying a home is an exciting, albeit stressful, experience. As you navigate the ins and outs of your purchase, make sure you have an experienced real estate attorney on your side. At Silverberg | Brito, PLLC, we’re Miamians through and through and take pride in caring for our fellow South Floridians.
If you have questions about buying a home in the area, give us a call at (305) 735-3966.