[Janie123]

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.

We bought a 2000sf designer home in 2020 that was built in 2001. Seller replaced the roof before selling as it was 19 years old. Neighbor bought same age house and had the roof replaced after the sale, I think at sellers expense… I would have preferred a discount on selling price to get a different color but it works. Also, insurer had it inspected and found 1 item that my inspector did not find that I repaired… double tap in elec panel. It was approved by code but inspector was being a PITA so I fixed it.

Current insurance is $1500 annually with a $1000/2% deductible from Cabrillo Coastal General Insurance. I used

INS SERVICES OF CENTRAL FLORIDA INC at:
(941) 722-6086

Ask for Sarah

[Pinkgirl]

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.

State Farm will no longer insure any house now older than 2004 even with a new roof!

[Ellis]

Originally Posted by Pairadocs

The reasons to buy an existing home are numerous, as we found out when we bought NEW, but most of us have no idea when we are new to the development. NOW, we realize the expense of even such things as: driveway enhancement with pavers or painting, fitted closets with much more than a simple rod and a wire shelf, window treatments and/or plantation shutters, gutters and gutter guards, flooring of and installing stairs to the attic above the garage, enclosing a lanai, landscaping beyond the a single tree and a few very inexpensive bushes, roll out cabinet and pantry shelves, garage shelving and storage components, I could go on literally for two more paragraphs with the additional costs we incurred for all the things you are likely get with a with preowned home but do not amount to a huge difference in price. Other considerations are many preowned homes have no bond or at least a substantial portion already paid off. You really REALLY have to do detailed research and not take the opinions of any of us who post, including this post ! LOL !

To each their own and there are two sides of the coin here, and yes, anybody reading this don't just take my word for it do the research. Bought a new CYV a couple of years ago. The older CYV's that we actually liked were about 100,000 more give or take. The older style ones with the curved driveways were not even considered.

We did the landscaping ourselves, saved thousands upon thousands of dollars. Closet organizers? Same, did them ourselves saved a bunch of money. Right on down the line. Our home came with new everything, electrical, plumbing, A/C, heater, tankless water heater, windows, roof, appliances. The open layout of the house is so much nicer than the older ones.

Walls, baseboards, doors, floor, carpet, handles all brand new none of it buggered up. The insulation on this home is superb. Yes, it most certainly cost more money to add the extras. But we have found the used homes that have all those extras naturally are more expensive than the used ones that don't come with it and/or have only had a few things done to it, and you would still have to spend money on making it that way. Last I checked the value of our home is close to a 100,000 more then when we purchased it and the 100,000 we saved instead of forking out on an older home sits in an interest bearing account. Yes, much to be considered.

[Kzeus]

We would like to express our gratitude to all who took the time to reply to our question about the insurability of "older" homes. We carefully read each of your responses, and despite the variety of experiences that you've all had, we consider each and every reply valuable as we navigate the myriad of options, regardless of whether we buy an older OR newer home. Thank you again for your *kind* responses!

[justjim]

Originally Posted by Pairadocs

18 year old home and paid $2486.

Replaced roof and premium was raised to $2770.

Relative in S.Springs experienced the same, replaced roof and premium was raised, but if roof was not replaced, they would be dropped, so really it's not a choice.

As for finding a company, most brokers can come up with a choice of 2 or 3, but the rating, what would happen if it was actually used, is anyone's guess. Have personal knowledge of individuals closer to the coast who incurred significant hurricane damage during Charlie years back... they spend nearly everything in their retirement savings on lawyers trying to get their well known insurance company to repair their home. You have to be careful, many companies will "shift" as much damage as possible to the result of "flooding" and claim they have no liability. It's a mine field, or should I say a shark tank ?

No question this was a Ripoff by an insurance co. We are not on the Coast we are in Central Florida. Surely you can do better.

[Gatorfan1]

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.

Call them at 352-245-2423 when you find home and they will quote before you buy