LOoking at wood frame house

[Janine Johnson]

WE are looking at a wood frame house.

Would like input/thoughts/experiences with wood frame homes

in Florida.

Termites?   remediation if an issue- General cost?

Insurance higher? If yes, any idea how much higher?

Resale value lower? yes? by how much? 

Are they a complete turn off for investors who want to

buy/hold/ lease?

Anything else I am not considering?

We are  newbies living in PIne Island.

Thanks,

Janine

[Jerry R.]

I am an agent, investor and run a property services company in the area.  Wood frame houses do have their issues here, but nothing to jo away from.

Termites are possible, but they are also possible with concrete homes as the trusses are wood.  I should know as the house I live in had termites in the trusses.  Get a termite inspection before you buy in addition to a regular home inspection.  In my case I had the house tented before I moved in.

Insurance will be higher. How much is hard to say.  Call your insurance company as every house is different and there are many factors to consider.

Resale value is lower.   Again hard to say, as every house is different and location matters. I just sold a 3 bedroom house for about 25-30K short of a similar cbs home. However I would not use that amount as a measuring stick.

I have an investor who buys them, but not at current market values.

Yes, excellent for renting out. Tenants do not care that it's wood frame.  But your numbers have to work. 

Find a good Realtor who works with investors such as myself.  There are quite a few investor-friendly Realtors in the area. Know your goals, know your numbers.