It can be tough in Florida to find the right home. There aren't a lot of houses to choose from in the current market. When you find one, it will likely need some work. Many buyers are willing to do some work, but what if it needs a new roof?
Does the home you are considering have a roof over 10 years old? Many properties in Flagler Beach, Daytona Beach, and Port Orange have older roofs. Some may even have the original roof. Before you spend money and time on an offer and home inspection, you need to find out if you can get insurance. It may not be a good idea to buy a home in Florida without consulting an insurance company first. If you do, you may be surprised and not able to get the coverage you need.
Florida law does protect homeowners with legislation passed earlier in 2022. Insurance companies cannot refuse to issue new policies on homes with roofs that are more than 15 years old based on the roof’s age. They must allow homeowners to get an inspection to prove a roof has five years or more of useful life. But it's still not that simple! The inspection may require a wind mitigation study AND a secondary water resistance layer.
Some insurance providers are not insuring older homes anymore. Some are just not writing new policies at all. So what should you do?
Talk to a few insurance companies about the home. The home may be eligible for a roof certification waiver. This means you don't have to replace the roof right away.
An opinion from a reputable, professional roofer can save you thousands.
Consider buying a newer home with up-to-date construction or that has a hip roof. A hip roof is more stable in severe weather than a gable roof. Even a partial hip roof can save you money.
A metal roof will always provide more protection.
Be prepared to pay more for home insurance in Florida than you thought you would.
Be prepared to repair your roof right away if it does not need a roof replacement. Only an experienced, local roofer can determine if this is the case.
Be prepared to install a new roof right away if you buy an older property.