[SoCalGal]

Originally Posted by Inspector Mark

The OP said they only wanted kind replies yet she just insulted everyone who has a home older the 20 years by saying, why would anyone buy an older home.

You are easily offended.

[coleprice]

The age of the roof is critical, not the age of the home. If you check with insurance agents, you will find that 20 year old homes with roofs that are less than 10 years old are easily and affordably insured. BTW . . . Homes in The Villages are now and always have been very well designed and constructed.

[Velvet]

Originally Posted by Inspector Mark

The OP said they only wanted kind reply's yet she just insulted everyone who has a home older the 20 years by saying, why would anyone buy an older home.

We just bought a CYV that is close to 30 years old. Had no problem getting home owners ins.

I have no idea why they think an older home is not insurable.

The issue is about the age of roofs not the age of homes.

My reading of OP’s post was more that they are afraid rather than they meant to insult anyone. When you buy a house new, old, or not built yet, you have all kinds of fears about what can go wrong. Especially if you are buying for the first time.

[Buckeyephan]

Last year we sold my late MIL’s Lakeland, FL house that was built in 2000. Realtor said we needed to replace the 15 year old roof. Checked with our State Farm agent to see if this was true. We were told that State Farm wouldn’t insure a house older than 20 years under any circumstances. Even with the new roof, buyers had to really shop around before they could get insurance.

[TeresaE]

Originally Posted by Kzeus

We are moving to The Villages in about a month and have been mulling this question:
How can someone sell a home older than 20 years, if insurance companies refuse to insure at all, or charge exhorbitant fees? And, conversely, why would anyone buy an older home?
We welcome all *kind* responses. Thank you.

Older homes sell just fine in Florida as long as the roof, HVAC and hot water heater aren’t too old. If any of these items are too old the seller can often fix them using proceeds from the sale and the title company will pay the vendor directly at closing. Or, buyers can get an estimate from a licensed contractor and put repair money into escrow at closing with the title company with an agreement in place with the insurance company that the repair will be made within a prescribed time period. Typically 30 days. A good real estate agent can help you negotiate these items. That’s why you want representation.

[Markus]

Originally Posted by Kzeus

We are moving to The Villages in about a month and have been mulling this question:
How can someone sell a home older than 20 years, if insurance companies refuse to insure at all, or charge exhorbitant fees? And, conversely, why would anyone buy an older home?
We welcome all *kind* responses. Thank you.

WELL.... More than half of the homes here are considered 'old'.. regardless if they are being sold or people live in them they should have insurance. The homes people are living in have insurance right?

Typically a home with a roof near end of life and/or a water heater at end of life will cause issues attempting to get insurance. Old mobile homes have a hard time getting insurance or the insurance is very high.

[HospitalCoder]

Originally Posted by Kzeus

We are moving to The Villages in about a month and have been mulling this question:
How can someone sell a home older than 20 years, if insurance companies refuse to insure at all, or charge exhorbitant fees? And, conversely, why would anyone buy an older home?
We welcome all *kind* responses. Thank you.

Location, location, location.

If you spend time investigating stores, restaurants, medical providers, etc., you may or may not find a preference for a certain area. We like where we are in the north (consequently older area) of The Villages because we have lots of stores and restaurants within an easy golf cart drive including an Ace Hardware, Publix, Walmart, Fresh Market, Sprouts, Bealls, Marshall’s, Petsmart — too many to mention. We are close to many desirable executive and championship golf courses and rec centers. We are close to both Spanish Springs and Lake Sumter squares. All those points are a huge plus for us.

[APovi]

Originally Posted by Kzeus

We are moving to The Villages in about a month and have been mulling this question:
How can someone sell a home older than 20 years, if insurance companies refuse to insure at all, or charge exhorbitant fees? And, conversely, why would anyone buy an older home?
We welcome all *kind* responses. Thank you.

-For the past 30+ years, when we list a home, we make it as easy as possible to get a sale for our owner. That includes, among many other things, a call to their Home Insurer (Not their Agent). They almost always welcome the new insured to replace the one they are losing.

[Robojo]

Originally Posted by Kzeus

We are moving to The Villages in about a month and have been mulling this question:
How can someone sell a home older than 20 years, if insurance companies refuse to insure at all, or charge exhorbitant fees? And, conversely, why would anyone buy an older home?
We welcome all *kind* responses. Thank you.

Bottom. Line

Don't move to the villages if you have to live on a budget. You need deep pockets to live here. Yes, some do have a budget but its not recommended

[Velvet]

Originally Posted by Buckeyephan

Last year we sold my late MIL’s Lakeland, FL house that was built in 2000. Realtor said we needed to replace the 15 year old roof. Checked with our State Farm agent to see if this was true. We were told that State Farm wouldn’t insure a house older than 20 years under any circumstances. Even with the new roof, buyers had to really shop around before they could get insurance.

Actually, State Farm may want to simply get out of Florida in the first place. Several insurance companies have left already.

[Pat2015]

Originally Posted by Kzeus

We are moving to The Villages in about a month and have been mulling this question:
How can someone sell a home older than 20 years, if insurance companies refuse to insure at all, or charge exhorbitant fees? And, conversely, why would anyone buy an older home?
We welcome all *kind* responses. Thank you.

If the house has a newer roof, hvac, and hot water heater, insurance shouldn’t be any problem at all.

[swally]

And insurance companies always hire the best lobbyists too.

[roguesearcher]

Originally Posted by HospitalCoder

Location, location, location.

If you spend time investigating stores, restaurants, medical providers, etc., you may or may not find a preference for a certain area. We like where we are in the north (consequently older area) of The Villages because we have lots of stores and restaurants within an easy golf cart drive including an Ace Hardware, Publix, Walmart, Fresh Market, Sprouts, Bealls, Marshall’s, Petsmart — too many to mention. We are close to many desirable executive and championship golf courses and rec centers. We are close to both Spanish Springs and Lake Sumter squares. All those points are a huge plus for us.

What Village are you in?

[Switter]

Originally Posted by Kzeus

We are moving to The Villages in about a month and have been mulling this question:
How can someone sell a home older than 20 years, if insurance companies refuse to insure at all, or charge exhorbitant fees? And, conversely, why would anyone buy an older home?
We welcome all *kind* responses. Thank you.

My house was built in 2002. I bought it in 2023 (21 years old) and was able to get insurance. I pay $1900 a year for a three bedroom, 1400 square-foot home. The roof was replaced in 2022 though. The furnace was 20 years old but that didn't even come up.

I bought the home I did because it met most my criteria, especially the price. Whether a house is new or not has never been a factor for me when purchasing a home.

[Blueblaze]

Originally Posted by Buckeyephan

Last year we sold my late MIL’s Lakeland, FL house that was built in 2000. Realtor said we needed to replace the 15 year old roof. Checked with our State Farm agent to see if this was true. We were told that State Farm wouldn’t insure a house older than 20 years under any circumstances. Even with the new roof, buyers had to really shop around before they could get insurance.

State farm insures my 2004 Lantana, and were more than happy to give me a price half what USAA was about to raise me to. And they didn't raise my rate this year.

State Farm is pickier about their customers than their customer's houses. It's the reason I've avoided them for all these years. They've always had a reputation for dumping people who make a claim, and I suspect they sometimes use these excuses to dump a customer they're not happy with, when they move.

The Florida insurance business is as crooked as it gets. Here we are, sitting 60 miles from the nearest hurricane, with houses rated for 110mph winds -- and subsidizing the insurance for rich folk's beach houses. It ought to be illegal, and I'll vote for anyone from either party who promises to put a stop to it.

State Farm was merely the cheapest outrageous policy I could find. I think they just wanted my business because I haven't had a claim since a tornado removed half my roof in Tulsa, back in '85. They'll get my business until they start hiking my already outrageous rate. At that point, I intend the toss in the towel and just take my chances without insurance.