Buying and selling wood homes in FL

Flipper/Rehabber · Litchfield, CT · Member since 2015 · 24 posts · 2 votes

I am a flipper from CT moving to Fort Lauderdale in a week looking to buy property to flip. My concern is: will it be more difficult to find a buyer if the home is not built with block? Many of the distressed homes I find are wooden and have prior termite damage, which I am fine with fixing, but I am wondering if the stigma of termites affecting wooden homes will hurt the number of potential Buyers I may have. Could anyone with knowledge of the Florida market provide any insight on this? My selling point is going to be around 250k, so i will be selling mostly to first time home buyers and lower income buyers. Thank you!

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Jeff CopelandBusiness Member

Real Estate Broker · Tampa Bay/St Petersburg, FL · Member since 2015 · 1k+ posts · 2k+ votes

There are two types of homes in Florida: Homes that have termite damages, and homes that don't have termite damage yet.

In very general terms, block construction is preferred to wood frame. But there is no particular stigma associated with wood frame - ultimately it boils down to price and condition.

Fact is, there is plenty of wood in a block home (interior walls, roof system, etc) and I've seen block homes where the roof trusses and rafters were completely destroyed by termites.

A termite warranty (which usually comes with any type of treatment) is a great selling point for first time home buyers. So my advice would be repair the damage, get it treated, and use the termite warranty as a selling feature.

The only time superficial termite damage often becomes a major issue is when the buyer is using VA loan. The VA requires a completely clean WDO inspection report (and it's very hard to find a home in Florida with zero termite damage, and zero evidence of termites ever having been present).

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Jeff CopelandBusiness Member
Real Estate Broker · Tampa Bay/St Petersburg, FL · Member since 2015 · 1k+ posts · 2k+ votes
6y
There are two types of homes in Florida: Homes that have termite damages, and homes that don't have termite damage yet.
In very general terms, block construction is preferred to wood frame. But there is no particular stigma associated with wood frame - ultimately it boils down to price and condition.
Fact is, there is plenty of wood in a block home (interior walls, roof system, etc) and I've seen block homes where the roof trusses and rafters were completely destroyed by termites.
A termite warranty (which usually comes with any type of treatment) is a great selling point for first time home buyers. So my advice would be repair the damage, get it treated, and use the termite warranty as a selling feature.
The only time superficial termite damage often becomes a major issue is when the buyer is using VA loan. The VA requires a completely clean WDO inspection report (and it's very hard to find a home in Florida with zero termite damage, and zero evidence of termites ever having been present).
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Dave Smart
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Flipper/Rehabber · Litchfield, CT · Member since 2015 · 24 posts · 2 votes
6y
That’s great, thanks Jeff!
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Kris L.
San Antonio, TX · Member since 2019 · 930 posts · 836 votes
6y
@Dave Smart
At least around here (Pinellas County), when I’m looking at a wood home vs a block home my main worry isn’t termites, it’s hurricanes. You can apply termite prevention treatments pretty cost effectively, but it’s a lot more expensive to harden an older wood frame house against 150kt winds.
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Samuel Caudle
Realtor · Pinellas County, FL · Member since 2020 · 14 posts · 4 votes
6y
I agree with @Jeff Copeland about homes in Florida. They either have termite damage or will have it eventually.

I also agree with @Kris L. that my biggest concern is weather and water. A long as everything is sealed up and the quality of work is high and obvious, you won't have trouble selling or renting it out.
I moved to Pinellas County early in the Summer from Colorado so this stuff has been interesting for me to learn about. Specifically with termites and water the question isn't "what if it happens to my property" but "how will I manage it when it happens to my property". Everyone is used to that kind of thinking here.
Hope that helps.
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Edgar Rodriguez
Real Estate Agent · Tampa, FL · Member since 2017 · 191 posts · 98 votes
6y
I would also add that, when comping out the ARV of your flip, make sure to compare like to like construction (block vs frame). There may not be a price disparity but, in some cases, there are. If you cannot find a similar frame home in your area, expand your radius and compare like for like in similar areas.
I would not worry too much about it but it is something to consider when a neighborhood has both block and frame homes.
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Dave Smart
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Flipper/Rehabber · Litchfield, CT · Member since 2015 · 24 posts · 2 votes
6y
Thank you everyone for the replies, it is all very helpful. Good to know, and also I didn’t even think of rain damage; hurricanes though have been on my mind. And good point Edgar, I need to be very through on my comps, especially since it’s a new area for me.
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