Answers by ALVARO AL VARGAS

If you want to live by the ocean in Pompano Beach, you’ll usually need three types of insurance: 1. Homeowners Insurance (HO3) Covers the house, belongings, and liability. Required if you have a mortgage. Average cost: $4,000–$7,000 per year depending on the home. 2. Hurricane/Windstorm Coverage Usually included in the homeowners policy. Comes with a hurricane deductible (often 2–5% of the home value). 3. Flood Insurance Not included in homeowners insurance. Often required near the ocean or in flood zones. Average cost: about $800–$1,000 per year. 💰 Typical total insurance cost near the ocean: ➡️ About $5,000–$8,000 per year ($400–$650 per month). 📌 Costs depend on: Distance from the ocean Flood zone Roof age Hurricane windows/shutters Home construction (concrete homes are cheaper to insure) ✅ Newer homes with impact windows and newer roofs usually have much lower insurance costs. Alvaro (AL) Vargas Broker Associate / Realtor Vartar Real Estate by Keller Williams Realty Vero Beach +1(904)323-7248 [email protected]

Hello Mike, Get Pre-Approved for a Mortgage Before looking at homes, talk to a lender and get a mortgage pre-approval letter. This shows sellers you are a serious buyer. The lender will review things like: Credit score Income and employment Debt-to-income ratio Bank statements and savings Down payment funds Typical loan programs buyers use include: FHA Loan – popular for first-time buyers (3.5% down). Conventional Loan – usually 3–20% down. VA Loan – for eligible veterans (0% down). 💡 Why this step matters: You know your budget and monthly payment. Sellers take your offer seriously. You avoid wasting time looking at homes you can’t finance. 2️⃣ Choose a Real Estate Agent Once pre-approved, work with a licensed agent who understands your market—especially if you’re buying near the coast in places like Pompano Beach, where insurance, flood zones, and HOA rules can affect costs. A good agent will: Find properties that match your budget Schedule showings Negotiate offers Guide you through inspections and closing 3️⃣ Start the Home Search After pre-approval, you can start touring homes and making offers. ✅ Simple formula: Pre-approval → Find agent → Start house hunting Alvaro (AL) Vargas Broker Associate / Realtor Vartar Real Estate by Keller Williams Realty Vero Beach +1(904)323-7248 [email protected]