? for those who have purchased older homes
 

We are looking at homes in the 15 -20 year old range in Sumpter county simply because of the location and lower tax
Working with a realtor and we told him to only show us houses with new or newer roofs because of all the stories I have heard about insuring with an older roof.

My ? is if purchasing a house in that age range with a new or newer roof is the price of insurance back to reasonable levels.

He is telling me I could expect to pay about 1200-1500 a year with a house that age with a new roof.

I would like to hear from anyone who is actually in that situation.

We just came back from a lifestyle visit and it was everything I expected and more.

Thanks

We bought 2 years ago (close to 2 1/2 years now) in Poinciana. House was built in 2006. There was nothing actually failing with the roof, but we were hearing stories about the difficulty insuring roofs of that age. We had it inspected twice by reputable (not insurance scammers) roofing companies and both said "it's OK now, but within a few years it's going to need replacing"...
Our insurance is with Allstate. Not the cheapest, but I've had them for years up north and I more or less trust them.
Our decision was to go ahead and have a new roof done after one year. I don't know if my insurance would have been a problem or not, but I'm a snowbird and I didn't want to hear about a problem while I was up north.
Also, prices were going up weekly it seemed, so I figured if I did it "now" (one year ago) I might not need to do it again in my lifetime. I might be wrong about that.

We bought where we did because we wanted the location, more or less equally positioned between LSL and Brownwood. For some reason we seem to favor LSL over Brownwood. After 2 1/2 years we are delighted with our choice.

Type and size of houses you are looking at was not specified in original post so it is difficult to say if realtor's estimate is accurate. If you are looking at designer size houses around 2000 sq ft it might be a little low. I just recently shopped my homeowner's insurance and the best I could get was about $2,100. That required bundling with auto and golf cart to get discounts. Our home is 12 years old with original roof in good condition. Insurance company required an inspection before they would insure us.

I would suggest that you at least view a few new houses to compare what you get. In my opinion, the new houses offer a much better deal than the older ones, and everything is new and under warranty.

The lower tax on a home could be due to homestead exemption. When the house is sold, the new purchase price will become the assessed value. This will result in higher taxes. Google “Sumter county, Florida tax collector” . On that site, you can enter the street address and find the current assessed value of the home. Compare that value to the asking price and you can calculate the taxes you will be paying.

Your comment about location is the most important consideration. Every village has its own set of +/-. Asking this group about the best location is like asking who makes the best pick up truck.

466 to 466A is my choice. Great golf, shopping and close to 3 towns.

So far, no one has answered the question asked. Lake14 came close though. What's missing is the answer to the question: what's the going rate for insurance on an older home with a new roof?

He's not asking for favorite areas.
He's not asking for "best bang for the buck."
He's not asking for tax costs.

I'm unable to answer the question since I live in a manufactured home with a metal roof, so my insurance prices can't compare at all to the prices of a site-built house with a shingle roof.

Insurance
 

Call a few insurance companies and give them the address. They will be able to give you approx cost of the insurance and answer any other questions you have

OP, I don't think anyone can answer your question. Homeowners insurance costs range widely, and can increase by more than 50 percent in a year, or they can cancel your policy. Do a search of other threads on this topic. The newer the house, the better chance you have to get a reasonable insurance rate. I pay $880 for a 7 year old courtyard villa with Progressive. But, some posters say that they can't even get insurance with Progressive.

So we are looking at houses up to $400000

So far the ones we have seen were all built about 2002-2006

I guess my ? is If it came down to a house that age would the main factor in the insurance rate be the roof above everything else.

Most of the ones we looked at were remodeled and beautiful inside.

Looking for some one that has a house that age with a new or newer roof hat can give me some insight on what they are paying for insurance.

Our home built in 2007. 2000 sq ft Lantana. Large pool, lanai, summer kitchen. Original roof. Lots of shopping resulted in a high deductible from Frontline for $1800 a year. High quote was $3000.

Sumter County , not Sumpter County

Might you get a good buy on a house with an older roof and replace the roof?

I am a location, location, location guy. The right house in the right spot would do it for me.

Do you think it would go down substantially if you replaced roof since your roof is 16 yrs old?

you are correct. I didn't have the information at my fingertips and I got sidetracked. Mrs. Laker14 just looked it up for me. 1900 sq. feet Gardenia, 1 year old roof, premium was paid in February= $2217. We went with Allstate because they bundle with cars, they have my NY home, they are reputable (I guess) and the biggie: they offered some sinkhole insurance beyond what is mandated by the state.

There are some other variables like deductibles and wind mitigation and whether you have a security system or not.

No, neighbor has a new roof , mine is original. Same insurance company, same coverage, theirs is $200 less than mine.

There is no singular "main factor" in prices for insurance. Roof age (not home age) is the singular "main factor" for INCREASE in insurance prices, but not in the price itself. If you've never owned a home here, then your first home won't be an increase in price over last year's price, since last year - you didn't own the home yet.

The cost of insurance includes the same factors as any other home in any other state. Size of the lot. size of the home. Does it have a garage. Attached or detached? Is it in a flood zone. If so, which one? What kind of construction is the dwelling? Does it have a pool - if so, is it above ground or in-ground, is it outdoor or indoor? What does the appraiser say about the current structure? Does it comply with the current hurricane/electrical/plumbing regulations? is it habitable or inhabitable? Is it a single-family, a duplex, a townhouse, or a condo? How many bedrooms, how many bathrooms - full or half? Does it have a basement, does it have an attic? Will you be living in the home you're trying to insure, full time? Will someone other than you be living in the home you're trying to insure, while you are living somewhere else, full time? Or will it be vacant?

These are some of the things the insurance company will want answers for before they quote you a firm price on a new policy.

Wow, I have a 2000 sq ft designer with pool, outdoor kitchen and very large birdcage (those features add to insurance cost) and pay 1200/year (Farmers). That is with a new roof.

We have bought and sold many homes. If I was currently looking for a house that was 15 to 20 years old, I would not rule out one that needs or is going to need a new roof soon. Just build the cost (or most of the cost) into your offer. The insurance on the house should cost in the 1200 - 1500 range if you have a good credit rating. Good luck in your search.

We bought a 1300 sq ft 2 and 2 ranch in Amelia in March of 22. It was built in 09 and has the original roof, which is still in good shape.

We were recommended to check out HH Insurance in St Pete. They're brokers so they deal with over 40 different companies.

They gave us 3 options for our home, kind of a good better best scenario. Our rate was $1250 per year and when we renewed this year it went to $1500.

Before they would write the policy they sent out an inspector at their expense to check out our roof.

Their customer service is very good as well. Hope this helps

Have a 2000 square foot designer home built in 2017 so roof is 6 years old. This year Progressive raised our insurance premium 60%. I shopped around but couldn’t beat the price even with bundling so I’m staying with them. (No claims). I don’t know if it’s the roof issue so much as the storm damage throughout the state resulting in higher premiums statewide. This may not help you much!

We have house insured for 300K in Sumter County. Roof is 8 years old and house is a 25 year old frame home and our premium is <$1500. Bought policy before hurricanes in 2022 and suspect that our premiums will be in the 2K range next year.

That is a ? that the insurance company or agent can and/or should answer.

We, wife and I debated buy new or resale. I wanted resale, in plainspeak used, she wanted new. So of course we bought new. That was nine years ago. A major advantage of buying new is that everyone moves in together making it easier to meet people. A resale, they do not depreciate so it is not cheaper. Nothing lasts forever. It is not just the roof. The air conditioning most likely a heat pump, heating and cooling. That also lasts like 14 years. The hot water heater, also needs to be replaced in like 14 years.

We bought last year, roof needed to be replaced. We waited a year to see difference in insurance rates. Ours went from 3200 down to 1800. We do not have auto -home discount. I am an insurance agent- not in florida. The other variables are if you have a good credit score, any other claims? This is universal in the insurance world. Except I believe one state. Also the value of home, bird cage, pool etc all makes a difference. I can tell you- the location is well worth the the price. It is so awesome!
Get several quotes, let roofer know it is not an insurance claim. Good luck and welcome to the villages!

We have an 18 year old house located 1 block from Seabreeze rec center.. Got almost free roof 3 years ago. House is 1156 sq ft. And homeowners ins. Is $976 per year.

Same situation
 

Hi, we purchased a courtyard villa in November 2022 and the insurance company required a new roof because the roof was original. We split the cost with the seller for the new roof and our insurance premium is 1159 a year we use citizens Ins through Dee’s

Colony patio villa, Sumter county, purchased in 2021, 1236 sq. ft, built in 2002 + or -. New roof in 2019. Insurance was $1335 for last renewal, which was an increase of $270 from the previous year.
Hope this answers your question!

We pay $1250 and we have USAA.
We have a 3 Bed CYV built in 2007 in Largo near the Bacall Recreation Center. We paid for our new roof in 2021.

What insurance is this? I am
In the process of buying a home.

What insurance company?

How does one get an "almost free" roof?

But everyone misspells it for the first five years….senior moments😉

It is Sumter....no P

I pay over $2, 000 for a home built in 1995 with a 6-year-old roof and little over 1200 square feet.

We bought a 2005 built home (1600 SF) late last year in Sumter County. The roof was replaced due to storm damage a year later with an architectural roof shingle. State Farm gave us the option of paying for a 4 point inspection which resulted in an estimate that the roof was still good for another 5-10 years so they did not require replacement. Another point I was told by our agent is that homes built after 2004 also have a better rating for storm resistance. I guess Florida building codes changed around 2004. Our homeowners policy was $2277 for the year and we also have discounts for cars and golf cart. I imagine I will hear from State Farm in a few years to inspect the roof or replace if the inspection fails.

Shop around for insurance. Don't just go with whoever you are familiar with. Villages Insurance said their lowest offer through some company I never heard of was around $2600. I believe at the time they also checked State Farm for us. When I went directly to State Farm things got cheaper for some odd reason. We also previously had history with them out of state. I've read others haven't had good experience with State Farm so do your homework.

Just factor the cost of a new roof into what you pay for the house. If asking $400,000 with an old roof offer $380,000.

The bond is higher in the new area as are the taxes because you pay Wildwood taxes on top of Sumter county taxes.

The older roof is not the main reason for the cost of your insurance.

My home fits your parameters. I put a new roof on last year. I am fully covered including additional sink hole coverage. I've been with Progressive since having the house built in 2005. Designer 2,200 Sq foot home. Just got new billing, $2,204.00. I'm fine with that, shopped around and others don't have additional sink hole coverage and price is around the same or higher. Remember that a brand new home comes with a bond of often $30,000 or more added above the price you pay for the home, most homes you're looking at do not have a bond since it was paid off years ago. That's a huge expense people seem to forget about. Location is most important. I prefer the larger lots of older homes and all the shopping and amenities they have already in place, but look for what's important to you. You will love it here whatever you decide, but don't forget to consider the cost of the bond in new homes.

The high cost of insurance is partially due to roofing scam……also from inflation, higher home valuation, and tropical weather in Florida. No, I don’t think your insurance rates will drop significantly with a new roof……so far new roofs have allowed insurability.

Older home, new roof
 

I have a house in Mallory Square. Built 2006. Roof replaced in 2022. After roof replaced, Progressive insurance on home (sq feet 1700) was 1300. This year renewal notice was for $3900. Had to shop around again and found new insurance thru Southern Oaks for $1300. Good luck! I may be selling in early 2024 so it is good to hear some people are still interested in homes between 466 and 466A👍🏻