Hold Old Homes in Florida?

[Tim Kaminski]

I have a few old properties (around 100 yrs old) in Tampa/St Pete that I am considering selling.  Initially wanted to hold forever but with insurance costs rising/property taxes going up/threats of Hurricanes destroying home, considering cashing out.  I have nice 3-4% rates but just fearful of a hurricane coming through and destroying the homes. 

I think I would reinvest in newer homes if possible.  Either here or out of state.  The 100 year old homes just worry me.

"They've lasted this long".  Yeah well, we are getting stronger and stronger hurricanes coming through and if I don't sell prior to house getting destroyed, would only get rebuilding costs from insurance.  Also, the insurance companies are fleeing Florida so I'm definitely not making as much as I would from selling while things are still good.

Talk me off the cliff or push me over please.

[Samuel Diouf]

You could sell this one and buy houses in the mid-west that are sturdy and don't have insane insurance costs. 

Columbus, Ohio, could be a great market to consider if you're leaning towards appreciation. Multiple, billion dollar companies are investing heavy in our area, such as Intel, Google, and Amazon. Which will bring plenty of other investors and general business to the area. I moved here from Florida after seeing the projected growth.