A Business Insider article, written by a recent home buyer examined the purchase of a home in Florida, looking at the various expenses and other complications that came up after the home was purchased. We thought it might be helpful to have a quick look at the lessons learned.

The buyer was a millennial from West Virginia who had been living in Miami for seven years and was excited and prepared for homeownership. Unfortunately, they quickly learned a few lessons about the cost of homeownership.

Here were the five things they wish they had known about before buying a home in the Sunshine State.

Homeowners insurance is difficult in Florida

Homeowner insurance options are limited in Florida due to a variety of reasons. Severe weather is an obvious issue, when major storms hit insurance companies have to pay out a massive number of claims and those costs are eventually passed onto homeowners via higher premiums.

In addition, insurance fraud has been an issue in Florida for many years which has led to higher premiums. While Florida legislators have attempted to lower premiums, the results have been mixed.

As risks have increased, many national insurers have left the market, leaving many homeowners to find coverage with Citizens Property which is the insurer of last resort in Florida. As legislative changes have taken effect, some new insurers have moved back into the state, but the majority are smaller regional insurers.

The author managed to find coverage with one of these regional insurers but lamented the lack of choices in insurance coverage.

Car Insurance can be expensive

In addition to pricey homeowners coverage, car insurance can also be expensive in Florida. Researching your ZIP code is a good idea for any homebuyer, regardless of which state you are shopping in. Insurers consider crime rates as well as claim rates when setting a rate and if your future home is located in neighborhood with high crime stats, you will pay more for car insurance. When shopping for a home also consider the fact that keeping your car in a garage will lower your premium

Car insurance premiums can vary dramatically across Florida, as an example, in the area of Dade County where the author purchased a home, there are “34 incorporated municipalities and various unincorporated neighborhoods”, which can lead to a major difference in insurance costs.

The best advice is to research crime rates in any neighborhood you considering and even gather insurance quotes (both homeowners and auto) for any home you are seriously considering buying.

Home improvement

Not understanding the cost of maintaining and improving a home is a mistake that many first-time homebuyers make. Property upkeep can be a major expense that many homeowners underestimate which can lead to big out of pocket costs.

In this particular case, the homebuyer need to remove a tree that was on the property and was surprised by the cost, the best quote came in at $12,000.

When shopping for a home it is always a good idea to have an inspection done and if the property has numerous trees, it may pay to have the landscaping inspected to make sure it is all healthy and will not have to be removed or replaced in the near future.

Always be aware of maintenance and upkeep costs for any home you are considering so there are no surprises once you have closed on the property.

Flooding

Flooding can be an issue in Florida, particularly after a major storm or rain. Flooding can impact both a home and vehicle, leading to major out of pocket expenses. It is important to carry the proper insurance coverages to fully protect your home and car.

Flood damage is always excluded from coverage on a homeowners policy leaving homeowners exposed if they are not carrying a flood insurance policy. If your future home is located in a high-risk flood area carrying flood insurance coverage is an absolute necessity. Flood insurance can be purchased via the National Flood Insurance Program or in the private market.

When it comes to vehicles, comprehensive coverage is necessary to cover flood damage to your vehicle. It also covers damage caused by theft, vandalism, fire, natural disasters, falling objects, animal strikes and even civil disturbance damage. Carrying full coverage (liability, collision and comprehensive) is always a good idea and if your vehicle has a loan or lease on it, your lender will require that you carry these coverages.

Pest control

Florida’s hot and humid climate makes it a great place for pests to call home. Termites, palmetto bugs, snakes, and iguanas are common pests that can invade homes. In addition to being annoying, these pests can damage your home.

Pest control in Florida is a necessity but it can also be pricey so be sure to check on the cost of local pest control firms before committing to a home.