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Create a thorough budget considering regional cost variations and set aside 10% for unforeseen expenses. Comprehend Florida's varied building codes, addressing structural safety and unique environmental factors in different regions.Engage local builders for their knowledge of regional challenges and hazards, and choose the ideal location that suits your needs.

Interest rate volatility on the 30-year fixed-rate mortgage has significantly impacted the housing industry since the Covid pandemic. Prior to this, interest rates were stable, which helped stabilize the industry. However, the Federal Reserve reduced interest rates during the pandemic, leading to a surge in the market. The rapid change in rates has created a…

100K home insurance policies in Florida will not be renewed. Non-renewal notices are scheduled to be sent out in December. Some policyholders are facing substantial premium increases. Florida has been addressing its insurance crisis through legislative measures. The non-renewals are driven by a need to rebalance exposure in the state, with a commitment to remaining…

FHA loans come with closing costs, which can be significant. These costs include lender fees, third-party fees, and prepaid items. Using an FHA loan closing cost calculator can help estimate these costs. It's important to calculate and understand these expenses before signing the mortgage. Closing costs typically range from 3% to 6% of the loan…

Florida's Live Local Act provides tax benefits for affordable housing. Exemptions range from 75% to 100% based on rent restrictions. Eligible properties must be newly constructed with at least 71 units.

Florida offers a more affordable housing market with an avg home price of $392K. 67% of homeowners in Florida are first-time homeowners, compared to 55% in California and New York. The cost of living in Florida is manageable, close to the national avg, and there is no income tax.

US consumer prices rose 3.2% year-over-year in October, lower than expected. Inflation slowed, indicating that the Federal Reserve's interest rate hikes are cooling price spikes. Housing costs, including apartment rents, also slowed. The Chief Economist of the National Association of Realtors suggests that mortgage rates will decrease, and the Fed may consider cutting interest rates.…

Amid challenges, Florida remains a viable option for homebuyers. Florida's lack of state income tax attract Real Estate investors and residentsFlorida attracts investors due to: Thriving economy ↓ Unemployment Strong job market

Mortgage rates have risen over the past 18-mo as the Federal Reserve increased its benchmark interest rate to combat inflation.The Fed's actions indirectly influence mortgage rates, and if inflation is controlled, rates may eventually decrease.