What Real Estate Lawyers Will Tell First-Time Home Buyers
Your first home purchase is one of the biggest milestones of your life. In Florida, this task is one of excitement and, oftentimes, complexity. In an ever-changing real estate market full of intricate laws, here is what the experienced real estate lawyers at Bonaquist | Allen will tell first-time home buyers in the Sunshine State.
Benefits for First-Time Home Buyers
Florida is unique in its real estate laws, especially for first-time home buyers. In fact, those purchasing their first property in the Sunshine State may find access to reduced interest rates, special tax credits and even down payment assistance programs from the state to encourage first-time home buying in Florida. By meeting with an experienced real estate lawyer, buyers can be made aware of all the benefits of buying a home in the Sunshine State.
Many Florida communities have Homeowners’ Associations (HOAs) with specific rules and regulations regarding lawn care, parking regulations, rental agreements and much more. These HOAs often require monthly or quarterly dues that are required to be paid if you live in the community.
If you are a first-time home buyer, it is important to understand if you are buying in an HOA-regulated community so that you can best understand your rights, responsibilities and potential restrictions on your property.
Coastal Property Risks & Insurance
Florida is a unique area in which to buy a home due to its tropical weather and vacation-like location. Although the days are full of sunshine and warm weather, coastal waters and threats of hurricanes increase property risks and the cost of insurance.
Homes on or near coastlines and waterways may require hurricane or flood insurance. Even if it is not legally required in the state of Florida, it is always wise to consider insurance so that your new home is protected.
Real Estate Taxes
In Florida, property taxes are determined based on the assessed value of the property and the local tax rate. Each county in Florida has a Property Appraiser who assesses the value of real estate. As a new homeowner, it’s important to understand that these assessments are done annually and can fluctuate, affecting your property taxes.
As successful real estate lawyers, we often advise clients to review their property assessments for accuracy and to be aware of when these assessments are made, as there are opportunities to appeal the assessment if you believe it is not reflective of your property’s true value.
Hiring a Skilled Real Estate Lawyer
If you are a first-time home buyer – or even a second or third-time home buyer — in Southwest Florida, contact the real estate lawyers of Bonaquist | Allen to help you in your home-buying journey.
With over 40 years of experience in the Florida market, Bonaquist | Allen is the name you can trust to help you maximize your benefits, understand HOA regulations, best protect your home, real estate taxes and more.
The skilled layers at Bonaquist | Allen are also experts in rental disagreements, deposit disputes purchase and sale transactions, commercial leases and other real estate-related matters.
Located in Naples, our local real estate lawyers know and love this community. In fact, our attorneys are a part of numerous civic and professional boards and associations including the Collier Building Industry Association, the area’s leading organization connecting and educating home builders and construction companies.
Our team will use our real estate connections, experience and skills to make sure you receive the justice you deserve. As a small firm, your case will be the top priority as we are committed to serving you and your real estate needs. Whether you’re buying, selling, renting or leasing – trust Bonaquist | Allen as your Naples real estate lawyer.
Contact our office today at 239-276-7127 or by visiting BonaquistAllenLaw.com.