Anyone build a house on their own land in Florida (Tampa: homeowners insurance, home builders)

[CLEOPATRAZEUS]

Currently living as retirees in the Tampa Bay area. Thinking of selling our home (tired of the older home upkeep) and maybe using the proceeds to build a duplex (related family) or a single 1 level home on purchased land in central Florida. A new manufactured home would be considered if it was built well. Anyone want to share their personal experiences with these ideas and what they encountered or if it was worth it. Or if their budget went way over?

[kyle19125]

What older home upkeep are you referring to? Once the roof, electrical, plumbing, HVAC, windows/doors are replaced, there's precious little remaining. That's about 50-60K versus putting that amount down on something new not guaranteed to be maintenance free, and how about home insurance premiums on a new home or manufactured home? Just pointing out the possibility of perceived greener grass when not necessarily the case.

[sinatras]

Originally Posted by kyle19125

What older home upkeep are you referring to? Once the roof, electrical, plumbing, HVAC, windows/doors are replaced, there's precious little remaining. That's about 50-60K versus putting that amount down on something new not guaranteed to be maintenance free, and how about home insurance premiums on a new home or manufactured home? Just pointing out the possibility of perceived greener grass when not necessarily the case.

I can think of many reasons Y the grass is greener on a new home.

Many insurance companies in Florida are refusing to insure homes past a certain age (if a home is older than 20 years old the insurance companies start adding zeroes to the premium even if it has new roof/electrical/plumbing etc; at least that's what's happening in Tampa Bay). MOST insurance companies will not insure my 1960 property in Tampa, with new roof/electrical/plumbing.

Many old homes in Florida (especially in Tampa Bay) are in flood zones and it would be prohibitively expensive to raise those old homes' foundations above base flood elevation. (Take a drive around Tampa Bay and see how high new builds are being raised off the ground, and some of those homes are not even in flood zones.)

Many old homes in Florida are not built to withstand hurricane codes and are extremely expensive to repair and insure for that reason.

Many new homes are of course extremely energy efficient and considering the direction utility prices are going, that's important also.

Not to mention, old houses suck in general (for reasons detailed by the OP). I own several old houses, so I know.

[logybogy]

Pretty much all homes in rural counties are done this way. You either put down a trailer which is most common since it is the most affordable option and these rural counties are poor or you build a house. You hire a general contractor or local builder. You have to figure out things like zoning, septic/well, clearing the land, home design. It's not an uncommon process but can be a huge headache for financing if you don't have tons of cash and interest rates increase over the course of the project. What pencils out at 4% does not at 7%. Also, you have to be super careful because of fraudsters and delays and building material increases. You need someone on site to watch them like hawks so they don't cut corners. It can be a gigantic pain in the butt.

In urban areas, this is less common unless you are looking at luxury homes as all the sub contractors and labor pool is with the tract home builders. But any rural area should have options for you.

[kyle19125]

Originally Posted by sinatras

I can think of many reasons Y the grass is greener on a new home.

Many insurance companies in Florida are refusing to insure homes past a certain age (if a home is older than 20 years old the insurance companies start adding zeroes to the premium even if it has new roof/electrical/plumbing etc; at least that's what's happening in Tampa Bay). MOST insurance companies will not insure my 1960 property in Tampa, with new roof/electrical/plumbing.

Many old homes in Florida (especially in Tampa Bay) are in flood zones and it would be prohibitively expensive to raise those old homes' foundations above base flood elevation. (Take a drive around Tampa Bay and see how high new builds are being raised off the ground, and some of those homes are not even in flood zones.)

Many old homes in Florida are not built to withstand hurricane codes and are extremely expensive to repair and insure for that reason.

Many new homes are of course extremely energy efficient and considering the direction utility prices are going, that's important also.

Not to mention, old houses suck in general (for reasons detailed by the OP). I own several old houses, so I know.

Weirdly enough 60s build homes have endured storm after storm while so-called better newer builds are blown apart into match sticks. Older homes are often in established, well-manicured neighborhoods versus the unknown of new builds and the propensity to tear out all of the tree cover in lieu of saplings that won't provide any shade until well after we're gone. The insurance companies are also in bed with the builders and don't think for a second it has to do with anything else. Roof mitigations can be performed to anchor the roof to the trusses for a few hundred dollars and until recent years a discount on your policy if added. Flood zones are what they are, new home or existing.

[sinatras]

Originally Posted by kyle19125

Weirdly enough 60s build homes have endured storm after storm while so-called better newer builds are blown apart into match sticks. Older homes are often in established, well-manicured neighborhoods versus the unknown of new builds and the propensity to tear out all of the tree cover in lieu of saplings that won't provide any shade until well after we're gone. The insurance companies are also in bed with the builders and don't think for a second it has to do with anything else. Roof mitigations can be performed to anchor the roof to the trusses for a few hundred dollars and until recent years a discount on your policy if added. Flood zones are what they are, new home or existing.

I don't have the link now but the NYT reported that code compliant new builds fared much better during IAN than older homes.

https://www.insurancejournal.com/new.../17/690281.htm

As for who's in bed with who, I'm sure you are right but that doesn't do me any good, I still can't get anyone to write a policy. And when I get quotes, the list of insurance companies who won't insure homes older than [whatever arbitrary year they pick] is quite long. "Won't insure homes older than 1976, 1985, 1995, 1969.............."; they all each have different stupid rules.

It is not uncommon to drive in South Tampa and see new-builds towering over 1950s ranch homes because they are being raised 8-10 feet above ground (flood zone or not). You have to climb a lot of steps to walk through your $4 million new front door..........

[kyle19125]

Originally Posted by sinatras

I don't have the link now but the NYT reported that code compliant new builds fared much better during IAN than older homes.

https://www.insurancejournal.com/new.../17/690281.htm

As for who's in bed with who, I'm sure you are right but that doesn't do me any good, I still can't get anyone to write a policy. And when I get quotes, the list of insurance companies who won't insure homes older than [whatever arbitrary year they pick] is quite long. "Won't insure homes older than 1976, 1985, 1995, 1969.............."; they all each have different stupid rules.

It is not uncommon to drive in South Tampa and see new-builds towering over 1950s ranch homes because they are being raised 8-10 feet above ground (flood zone or not). You have to climb a lot of steps to walk through your $4 million new front door..........

Makes one wonder how the elderly/handicapped are supposed to have ADA accessibility with such a design other than a costly elevator or unsightly sixty feet of ramp.

[sinatras]

Originally Posted by kyle19125

Makes one wonder how the elderly/handicapped are supposed to have ADA accessibility with such a design other than a costly elevator or unsightly sixty feet of ramp.

I wonder the same thing.

[CLEOPATRAZEUS]

Originally Posted by kyle19125

Weirdly enough 60s build homes have endured storm after storm while so-called better newer builds are blown apart into match sticks. Older homes are often in established, well-manicured neighborhoods versus the unknown of new builds and the propensity to tear out all of the tree cover in lieu of saplings that won't provide any shade until well after we're gone. The insurance companies are also in bed with the builders and don't think for a second it has to do with anything else. Roof mitigations can be performed to anchor the roof to the trusses for a few hundred dollars and until recent years a discount on your policy if added. Flood zones are what they are, new home or existing.

You are right. Our 1952 block home has never had any damage from hurricanes or storms.We are not far from water. We have never flooded but our flood and homeowners insurance has double in 15 years. Price of living in Florida. A lot of ranch houses in our area are being demolished to build big 2 story homes (hardly any yard,do not see people out side much except at the parks) so seniors have a hard time finding a single level home that does not need remodeling. The new built homes seems to be made cheaper then they used to be but but the upkeep can be ongoing in an older home inside and out beyond a roof and AC. Places like Sun City have a lot of one level homes but not every younger senior wants that lofe yet. I received good input and information from people here on CD. THANKS everyone for your different thoughts. What's involved with building on land seems very frustrating after all for seniors. The grass is not always greener..Just a different shade of green! May have to leave the area for more choices. My husband wants to look at Arizona again but not sure of desert living..

[sinatras]

Originally Posted by CLEOPATRAZEUS

You are right. Our 1952 block home has never had any damage from hurricanes or storms.We are not far from water. We have never flooded but our flood and homeowners insurance has double in 15 years. Price of living in Florida. A lot of ranch houses in our area are being demolished to build big 2 story homes (hardly any yard,do not see people out side much except at the parks) so seniors have a hard time finding a single level home that does not need remodeling. The new built homes seems to be made cheaper then they used to be but but the upkeep can be ongoing in an older home inside and out beyond a roof and AC. Places like Sun City have a lot of one level homes but not every younger senior wants that lofe yet. I received good input and information from people here on CD. THANKS everyone for your different thoughts. What's involved with building on land seems very frustrating after all for seniors. The grass is not always greener..Just a different shade of green! May have to leave the area for more choices. My husband wants to look at Arizona again but not sure of desert living..

Arizona is much cheaper than Florida, the way Florida is going

Groceries cheaper, gas cheaper, housing cheaper, insurance cheaper