How to Minimize Hurricane Risk When Buying a Florida Home

Posted by Team Donovan on Wednesday, October 12th, 2016 at 12:21pm.

Thinking about buying a second home in Orlando?  The recent news about Hurricane Matthew may have given you reason to think twice about the idea. But purchasing Central Florida real estate is still a smart investment, especially if you buy a home near the theme parks. 

The Kissimmee area, where Walt Disney World™ is located, is right in the heart of Florida. As a result, hurricane warnings and/or occurrences are not as common, nor as severe as in the coastal cities. In case of a hurricane alert, you should have plenty of time to notify the property manager to secure the home if you are not staying there at the time.   

Central Florida typically experiences very minimal damage from any hurricane, no evacuations, and if the power goes out, it’s only for a few hours.  On the other hand, hurricane activity is a huge threat for coastal areas from Texas to Maine.  Some locations face a higher hurricane risk than others such as the Florida Keys, Outer Banks of North Carolina, and New Orleans. These areas can be greatly affected by storm surge which can cause devastating flooding. 

When searching for an Orlando vacation home, your best bet is to buy as new a property as your budget will allow. The Florida Building Code gets updated every three years and storm resistance standards are strengthened each time. In addition, buying a newer home means you won’t face as many maintenance issues as you would with an older property. 

You will need to purchase insurance for your holiday home, so you are protected in case a storm does cause any minor damage. A three bedroom home can run you anywhere between $800 - $1400 a year, depending on the age of the building, age of the roof, roof structure, location of the home, and whether or not you plan to reside in the home on a part-time or full-time basis.  If your home was on the coast, you could pay two or three times more for insurance coverage. 

Before you buy a home, it’s wise to get a home inspection that includes wind mitigation. This inspection will determine whether the property has all the hurricane proofing it needs. This report can wind up saving you a couple of hundred dollars on your insurance policy. 

For more information about vacation homes for sale in Orlando, contact Team Donovan. We can help you find the newest homes in the area, and offer you guidance about insurance options, property management and more. Call 407-705-2616 today!