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Hey there Florida folks, I have a question about the building codes (eg roofs, hurricane-proofing) for older homes. I found a really nice house for an extremely good price for me to carry and rent out, and eventually live in. My concerns are with how the roof stacks up to code, given that it's one of the older homes from the 1970s where they just slapped some bricks together and threw a roof on it. The data says the roof was done in 2006. Would this have retrofitted it to current standards?

Does anyone know what is required of a home built in this time period to have in order to take out a mortgage on it? I've only purchased land in Florida previously (I live in Connecticut) so my knowledge about this isn't all that good.

Thanks in advance.

[Restrain]

We own a 70's home, concrete block with stucco. Buying the home is not the issue. You write the contract, get the loan, get the appraisal. but go through a credit union, smaller bank, or 5/3 Bank. Wells, BofA, etc are not real interested in originating loans. No retrofits required to buy though.

The big issue is homeowners insurance and flood insurance. Check into a 4-point wind inspection. Whether you have eves or a full hip roof, if you have straps or 3 nails attaching the rafters to the plates, etc. All this affects the insurance costs. Retrofitting is not required. You say it was redone in 2006. Was this done post-Charley as repair? The owner might have upgraded the rafter connectors.

Also how close you are to the coast, in a flood zone, etc. Contact a local independent insurance agent for your home owners insurance, as Allstate, etc don't lend in all places.

Look at the flood zone first (check out the 50% rule for homes in the flood zone). This can really be a BOING in costs if in a flood zone. Check for any special assessments (planned improvements by the city/county). Insurance isn't any worse than Texas where we moved from.

Hope this helps

[freidenbach]

What is the 50% rule?

[Restrain]

Here is a link. Basically if you are in a flood zone, damages or repairs exceed 50% of the HOUSE value, a bunch of rules come into play. That is why there are a lot of vacant canal lots in PGI-had to be demolished rather than repaired after Charley.

https://www.charlottecountyfl.gov/se...rcentRule.aspx