Florida Owners Eligible for FREE Home Inspection

Those thinking of taking out a Florida home mortgage for a residence in the Sunshine State are aware of the risks involed; namely, the natural disaster risks. A new program, however, aims to help owners remain safe throughout hurricane season.

My Safe Florida Home is a $250 million mitigation program to help Floridians strengthen their homes against hurricanes and to reduce property losses around the state. Owners in the local real estate market now apply for a FREE home inspection and professional recommendations on how to improve their homes’ ability to withstand a hurricane.

These individuals may also qualify for matching grants of up to $5,000 to fortify their homes.

Why offer a cost-free home inspection? The goal is “to strengthen as many homes as possible against hurricane damage,” said Jeff Takacs, spokesman with Department of Financial Services, which administers the My Safe Florida Home program.

Tom Gallagher, Florida’s chief financial officer and a gubernatorial candidate, said that as many as 50,000 Florida households will be served over the next year through this program. It should ease at least one worry you may have over applying for a Florida mortgage loan. The program will help reinforce older homes - those built prior to 2002 - which represent 85 percent of all state houses.

Moreover, these strengthened homes would be less susceptible to damage from hurricanes, making them more attractive to insurers, resulting in lower insurance premiums. It would all add up to fewer costs for hopeful owners around various counties and cities.
To apply for a free home inspection, Floridians must:

- Live in a single-family, site-built home with an insured value of $500,000 or less and have a valid homestead exemption.

Once an inspection has been done, the homeowner will receive a report within 10 days that would outline up to seven areas that could be improved to better protect the home against hurricanes. There would then be an estimate of how much each of those improvements would cost, the expected savings if the improvements were made, and a rating of the home’s current ability to withstand hurricanes.

Perhaps this information will lead many to increase their demand for Florida home loans as the year comes to a close.