Rental Property Investor · Clermont, FL · Member since 2016 · 266 posts · 81 votes
What is your criteria for buying homes with a wood frame build in Florida? I know a lot of investors who say to steer clear and to only really look at block properties (primarily because of termites), but I've seen a few good deals on homes with wood frames so I wanted to dig into that a bit more. Would/have you ever purchase(d) a home like that? If so, under what conditions?
Rental Property Investor · West Palm Beach, FL · Member since 2017 · 262 posts · 136 votes
7y
I have two properties in south Florida that are frame. I was afraid of them too when I first started but it hasn't been a terrible experience for me, granted I have owned first one less than 2 years. You will want to factor in additional costs for pest control. You will also want to make sure you are inspecting the property at least once a year to make sure there are not any termites. The good thing about frame homes is you have a lot more freedom to move walls. @Charles Soper is right that some houses stand the test of time. My houses were built in the 20s and 50s and are still standing just fine. @Brandon Reed it is true that insurance is higher but not by a very significant amount. As long as you know the risks and factor them into your analysis you should be fine, and you also may not have as much competition because as @Brian Garrett stated, there are a lot of investors who avoid these types of properties. Of course anything with investing comes down to your level risk tolerance.
The good thing about frame homes is you have a lot more freedom to move walls.
If you are speaking of interior walls, how does frame make it easier to move walls? Unless you are specifically talking about having to move windows in the exterior block when relocating walls? Are you finding too many interior walls build out of block?
Rental Property Investor · West Palm Beach, FL · Member since 2017 · 262 posts · 136 votes
7y
@Deb R. Sorry for the delay on this. I have only worked with frame homes so I am not sure how CBS comes together but from what contractor's have told me it is easier to move walls when the property is frame.
Real Estate Agent · Ormond Beach, FL · Member since 2017 · 215 posts · 158 votes
7y
Lived in both frame and CBS. My investments are CBS currently, but I would consider a frame house if it had been well taken care of. @Nick Harvey is right, CBS houses can get termites... my one property had old damage I had to address, nothing active, but it is under a termite bond now. In fact, it is more likely for a CBS house to not have been treated against termites because home owners mistakenly think the house is termite proof! Wood frame houses are more likely to be monitored by their owners because of the fact they are wood. It still is very important to have a pest control expert do your inspection. Do not rely on a general home inspector.
Rental Property Investor · Niceville, FL · Member since 2019 · 89 posts · 62 votes
7y
Grew up in a block home in North Florida. Got termites. Live in a frame home in North Florida....got termite bond :)
Live within 40 miles of where Hurricane Michael hit- the older block homes did well but still need MAJOR work. I don't think these two factors would have any influence on my decision to purchase unless there was a current termite infestation or previous damage beyond the scope of the repairs I wanted to do.
Comes down to insurance costs for me. Wind mitigation for the roof helps a lot.