Answers by Amanda Cialoni

The answer may vary by state, but in Florida you can get a wind mitigation inspection and a 4 point inspection that the insurance company will request to see. The age of the roof and other components inspected determine your insurance cost with a newer roof, windows, doors, etc brining your insurance rate down. The elevation of the home also plays a role in the insurance costs. In Florida there is currently a grant program available with up to $10,000 per homeowner available to help harden your home and bring down your insurance costs. The website to apply is https://mysafeflhome.com/

Grant, I would definitely pay off any non secured debt like credit card debt that has high interest as well as put some money in a savings account or CD in case of emergency. If you have money left over and your current mortgage is comfortable, you might consider an investment in a vacation property as a short term rental. Choose a place you enjoy visiting so you can stay when it isn't rented. If you like the Florida Panhandle (Panama City Beach, Mexico Beach, Port St. Joe or Destin) I would be happy to discuss the options.