[StarfishKey]

Originally Posted by toddanderson

I am looking at homes and insurance cost , if i should buy a older home and put the money into for
wind mitigation upgrades or buy a newer home 2002 and newer.

most of the older homes dont have hip roofs, does anyone know the % type discounts you would get
for a hip roof verse a gable type roof

If you can afford it, buy a newer home. It's not just about the insurance, but about the likelihood of your home to survive a storm, the likelihood that it is conforming to flood standards (if not you could face serious fines in addition to damage if you are in a flood zone), and the likelihood that it does not have serious termite damage or mold damage yet. Nothing is guaranteed, but there is a reason these houses go for more money - and if it doesn't, something is wrong with it. A post-2002 house will generally qualify for top wind credits anyway, regardless of what type of roof it has. You can't improve on structure much once it is built - in terms of strengthening for wind or waves, it is never going to be as good as if it was built properly in the first place. And the cost could be astronomical - replacing warped or termite-riddled wood, concrete falling apart from spalling, etc.

My house is older (not ancient though), and was well-constructed, plus has accordion hurricane shutters, despite not being concrete or having the best of what is available today. With a wood frame and gable roof and all, it still qualified for full wind credits. It also did not have any termite damage, or other major problems. So it's possible. But, I looked for 2 full years to find it - the majority of older houses are not going to be so good. I could not afford the new concrete homes in the area I was moving to - which go for $1.2mil and up. The old concrete homes were not built properly, so rebar caused serious spalling and leaves them in very poor shape. So I got what was the best compromise I could manage. But if you have a choice, go with the newer home that was built to withstand top winds and to avoid flood waters. Do NOT expect that insurance money is going to be enough to rebuild if a catastrophe happens - they make a living out of loopholes so they can avoid paying almost anything.

Many newer manufactured homes are rated for top winds and are actually very well constructed, as well as much cheaper. They will still be very susceptible to termite damage, but they are not a bad option if you can afford them but not a new concrete home. You might find the diamond in the rough old house, but it's likely that you will end up with huge money pit compared with a post-2002 house. Beware of foreclosed newer homes though, I have heard many nightmare stories from neighbors of what happens when a home is vacant for 5 years - even if it is newer, it might be too much of a wreck too retain structural benefit of its age after all that neglect. Do your due diligence first.

[toddanderson]

thank you Starfishkey,
I was thinking the same as a new 2002 house would be better in the end,
my other issue is to balance the hoa, cdd fees , as it seems most of the 2002 newer homes have these fee
thats why i was debating on an older house,
coming from wisconsin we dont have hoa, cdd, wind issue, so its all a learning experience.
thank for your help

Originally Posted by StarfishKey

If you can afford it, buy a newer home. It's not just about the insurance, but about the likelihood of your home to survive a storm, the likelihood that it is conforming to flood standards (if not you could face serious fines in addition to damage if you are in a flood zone), and the likelihood that it does not have serious termite damage or mold damage yet. Nothing is guaranteed, but there is a reason these houses go for more money - and if it doesn't, something is wrong with it. A post-2002 house will generally qualify for top wind credits anyway, regardless of what type of roof it has. You can't improve on structure much once it is built - in terms of strengthening for wind or waves, it is never going to be as good as if it was built properly in the first place. And the cost could be astronomical - replacing warped or termite-riddled wood, concrete falling apart from spalling, etc.

My house is older (not ancient though), and was well-constructed, plus has accordion hurricane shutters, despite not being concrete or having the best of what is available today. With a wood frame and gable roof and all, it still qualified for full wind credits. It also did not have any termite damage, or other major problems. So it's possible. But, I looked for 2 full years to find it - the majority of older houses are not going to be so good. I could not afford the new concrete homes in the area I was moving to - which go for $1.2mil and up. The old concrete homes were not built properly, so rebar caused serious spalling and leaves them in very poor shape. So I got what was the best compromise I could manage. But if you have a choice, go with the newer home that was built to withstand top winds and to avoid flood waters. Do NOT expect that insurance money is going to be enough to rebuild if a catastrophe happens - they make a living out of loopholes so they can avoid paying almost anything.

Many newer manufactured homes are rated for top winds and are actually very well constructed, as well as much cheaper. They will still be very susceptible to termite damage, but they are not a bad option if you can afford them but not a new concrete home. You might find the diamond in the rough old house, but it's likely that you will end up with huge money pit compared with a post-2002 house. Beware of foreclosed newer homes though, I have heard many nightmare stories from neighbors of what happens when a home is vacant for 5 years - even if it is newer, it might be too much of a wreck too retain structural benefit of its age after all that neglect. Do your due diligence first.

[StarfishKey]

Originally Posted by toddanderson

thank you Starfishkey,
I was thinking the same as a new 2002 house would be better in the end,
my other issue is to balance the hoa, cdd fees , as it seems most of the 2002 newer homes have these fee
thats why i was debating on an older house,
coming from wisconsin we dont have hoa, cdd, wind issue, so its all a learning experience.
thank for your help

Hmmm... where I am new does not mean it has to be in an HOA. I personally would never choose to live in one. So that is certainly another factor. You haven't mentioned where you're looking, but make sure that is a choice you have to make, and see if you can consider other neighborhoods where that may not be the case. The wind is a fact you will have to contend with no matter where you live in all of FL - particularly of course in counties near the coast - so house construction will be important. But HOAs are not at all a requirement to live in the state, and if you feel strongly that you do not want to live in one or can't afford one, there are other options.

I personally bought a house versus a condo or coop specifically because I want my own land and to have the say-so over my own property (outside of course of local environmental regulations). I am not going to pay the enormous cost of having my own property, and then have strangers decide how we can all look and act the same, and charge me fees for that privilege on top of it, not to mention in many groups mismanage funds and have to argue in monthly meetings about who they contracted to take care of the pool. I could be in a condo for all of that headache. My house is mine - I never have to ask anyone what color I can paint it or what trees I can plant, and I know exactly how much my monthly payment on it is and I can make my own decisions about maintenance without the agreement of a bunch of arbitrary strangers. I personally don't understand why HOAs are so popular in FL when they aren't in many other states - particularly when a majority of Floridians are so against involvement of others in a political sense to control or regulate parts of life less directly affecting one than one's house. Regardless, it is not something I would choose to pay for, and so I chose a house that did not include such fees. It all depends on how you feel about it.

[toddanderson]

I would like to be around 15 miles of Tamp, $120k or so ranch style, 1200 + sqft
most of the 2002 + house seem to have hoa or cdd fee's

Originally Posted by StarfishKey

Hmmm... where I am new does not mean it has to be in an HOA. I personally would never choose to live in one. So that is certainly another factor. You haven't mentioned where you're looking, but make sure that is a choice you have to make, and see if you can consider other neighborhoods where that may not be the case. The wind is a fact you will have to contend with no matter where you live in all of FL - particularly of course in counties near the coast - so house construction will be important. But HOAs are not at all a requirement to live in the state, and if you feel strongly that you do not want to live in one or can't afford one, there are other options.

I personally bought a house versus a condo or coop specifically because I want my own land and to have the say-so over my own property (outside of course of local environmental regulations). I am not going to pay the enormous cost of having my own property, and then have strangers decide how we can all look and act the same, and charge me fees for that privilege on top of it, not to mention in many groups mismanage funds and have to argue in monthly meetings about who they contracted to take care of the pool. I could be in a condo for all of that headache. My house is mine - I never have to ask anyone what color I can paint it or what trees I can plant, and I know exactly how much my monthly payment on it is and I can make my own decisions about maintenance without the agreement of a bunch of arbitrary strangers. I personally don't understand why HOAs are so popular in FL when they aren't in many other states - particularly when a majority of Floridians are so against involvement of others in a political sense to control or regulate parts of life less directly affecting one than one's house. Regardless, it is not something I would choose to pay for, and so I chose a house that did not include such fees. It all depends on how you feel about it.

[Robyn55]

Originally Posted by toddanderson

I would like to be around 15 miles of Tamp, $120k or so ranch style, 1200 + sqft
most of the 2002 + house seem to have hoa or cdd fee's

Our hip roof gives us about 1/3 of our wind mitigation discount (which - overall - is approximately a 50% discount).

Beware of older homes in the Tampa area in terms of flood insurance. A lot were scheduled to be slammed by price hikes mandated by implementation of a new federal law (now postponed - but no guarantee the issue won't arise again):

How to Find Out Which Homes Are in Flood Zones-Tampa, Florida Flood Insurance

Robyn

[quattrohead]

My house in PSL is going to need a new roof in the next 5 years, I am actually considering if it is worth while to remove the standard end trusses and replace them with hip trusses.
It would be an easy project on this house, simple layout.

[toddanderson]

Sounds interesting what does something like that cost ?

Originally Posted by quattrohead

My house in PSL is going to need a new roof in the next 5 years, I am actually considering if it is worth while to remove the standard end trusses and replace them with hip trusses.
It would be an easy project on this house, simple layout.