The Sarasota area is flourishing with new construction popping up left and right. However, amidst this modern sprawl, there's a certain allure to the older, charming homes that catch the eye. Some of these gems are beautifully updated, while others are brimming with untapped potential. If you're like me and find yourself drawn to the character of an older home, it's crucial to weigh both the charm and the challenges. Today, I'm zeroing in on West Bradenton, a neighborhood teeming with such enchanting properties. I'll walk you through the pros and cons of investing in an older home, ensuring you're well-informed before making your move. Let's dive into the beauty and the possible pitfalls of these historic dwellings, and discover if they're the right fit for your dream home aspirations!

Charm and Character of West Bradenton

The Pros and Cons of Investing in an Older Home

Having relocated from Toledo, Ohio, where the landscape is dotted with homes that have gracefully aged over a century, the transition to the relatively youthful Sarasota and Bradenton was quite the eye-opener for me. In Toledo, as in many other cities, it's common to find residences that proudly boast of their 150-year-old heritage, each with its own storied past and architectural uniqueness. However, Sarasota and Bradenton, by comparison, are burgeoning cities with a comparatively sparse selection of historical homes. The charm of the 1920s and 1930s is a rare find here, with my research uncovering a mere 75 homes built before 1920 in the entirety of Sarasota County.

For those of you enchanted by the idea of owning a quaint, older home in this region, this rarity brings a certain allure but also a set of considerations. In this blog, I'll share insights and tips for navigating the market for older homes in Sarasota and Bradenton. Whether you're drawn to the unique character of these historical gems or considering the practical aspects of owning a piece of history, there are several key factors to keep in mind. Let's explore what makes these 'baby cities' a unique challenge and opportunity for homebuyers seeking that old-world charm in sunny Florida.

CONSTRUCTION

From what I've noticed, most new houses these days are going with block construction. That's quite a change from the older ones, which could be made of all sorts of stuff like wood, brick, and yes, even block. But here's the thing: not all block houses are raised up off the ground like you might expect, especially considering our sandy soil and all the water around here.

Now, some homes, no matter what they're made of, are built up high. You might even find crawl spaces underneath, which adds a neat little twist to both wood and block houses.

If you're thinking about puchasing one of these unique homes for yourself, it's good to keep these quirks in mind. They play a big role in how charming, functional, and sturdy our homes are in this neck of the woods.

Starting my journey into homeownership with a cute little 1920s wood frame house was an adventure, to say the least. It was the kind of place that just oozed charm. One of the great things about having a wood frame house is how easy was to switch things up. If I needed to make a change—I could just cut into the wood and go for it. However, with a wood frame house, you always have to keep an eye out for termites and wood rot. Those little troublemakers can wreak havoc on your place.

The foundation situation was pretty interesting too. Some houses like these are built nice and solid on footers. My first place was perched on concrete blocks that seemed like they were placed by someone playing a game of Tetris. This setup meant pretty much any critter that fancied a visit could wander under the house – it was like a wildlife Airbnb under there!

And then there's the whole deal with lead-based paint and asbestos shingles. Yep, you heard that right. Sometimes these old charmers were built with stuff that we now know isn't exactly great for our health. So, heads up, you might be dealing with some unwanted toxins.

Coming from a place where homes are built differently, you quickly realize Florida has its own set of rules when it comes to houses. Trying to compare homes here to those up north is like comparing apples to oranges. Just remember, in Florida, expecting the unexpected is part of the charm.

FEMA RULES

If you're thinking about buying a home in a flood-prone area like some parts of West Bradenton, it's essential to understand the rules set by FEMA. One important regulation is the 50% rule. If your property is in a flood zone, you don't necessarily have to bring the entire structure up to current flood zone codes when making improvements. Instead, you're allowed to improve the property up to 50% of the assessed value of the structure at any one time. This assessed value is determined by the county and can be found under the "improved value" section on your tax statement.

Now, here's where it gets tricky. Let's say you've got a fixer-upper on your hands - maybe it's boarded up and in pretty rough shape. Take, for instance, a home currently under contract with an assessed value of $54K. That means the owner can only improve it by $27K. Unfortunately, that might not stretch very far when you're talking about essential upgrades like windows and a roof.

So, before diving into any major renovations, it's crucial to crunch the numbers and understand the limitations imposed by FEMA regulations. It could save you from headaches down the road!

Let's say the owner invests $27K in improvements. After that, they have a couple of options: they can either pay to have the property appraised and present the new value to the county, or they can wait for the county to re-assess the value on their own. Once the value increases, let's say to $90,000, the owner can then proceed with the next phase of improvements, totaling up to $45,000. It's a bit of a rinse and repeat process.

Now, improving a home in a flood zone is no walk in the park. Just getting the roof, windows, electric, air conditioning, and plumbing up to snuff can take a considerable amount of time. And let's not forget about any potential structural issues that might need addressing along the way.

But here's the kicker: if you don't play by the 50% rule, you might find yourself facing the daunting task of bringing the entire home up to current flood code standards. And trust me, that could mean some serious expenses, especially if it involves raising the elevation of the home - a costly and sometimes nearly impossible feat.

INSURANCE ISSUES

If you've caught a few of my other videos, you've probably heard me talk about this before - and I'll keep mentioning it because it's just that important.

Insurance companies are getting pretty strict about the condition of homes when it comes to issuing new policies. Your roof has to have plenty of life left in it and be free of any pesky leaks or issues. And don't overlook your electric panel and wiring type - they can make a big difference in your ability to snag insurance.

Now, even if you're a DIY wizard and don't mind taking your time to fix up a property, time isn't exactly on your side when it comes to insurance. Whether you're paying cash or getting a loan, you'll need insurance, and the home has to be in solid shape by closing.

So, before you dive into any real estate venture, make sure you've got your insurance ducks in a row. It'll save you a lot of headaches down the road!

WEST BRADENTON HOMES

The homes in West Bradenton are downright adorable. There's a little bit of everything here, making it one eclectic neighborhood.

First, the lots—some of them are massive, while others are on the smaller side. And then there are those lucky homes right on the Manatee River, boasting docks and breathtaking views. It's no wonder some of these properties are in flood zones, not all of them, but quite a few.

Now, for the size of the homes you’ll find everything from cozy 1-bedroom cottages under 1,000 square feet to sprawling estates topping 5,000 square feet.

And the styles of these homes are very diverse — from charming wood frame houses to elegant Spanish Mediterranean villas, laid-back Key West styles, classic Craftsman homes, and everything in between. It's like a smorgasbord of architectural delights!

Lets talk about the condition and prices of homes in West Bradenton. Now, many of these homes are kept in great shape, but it's important to note that there are some that have unfortunately been abandoned and left to deteriorate. Since this area doesn't have an HOA, unless the county steps in, you might find yourself living near a neglected property.

As for prices, they range quite a bit. You could find a fixer-upper for as low as $200K, but if you're looking for something waterfront with all the bells and whistles, you could be looking at a cool $6 million. The average sale price sits around $400K, but if you're after a decent-sized home in good condition, you're likely looking at shelling out over $500K.

Now, West Bradenton isn't the only area with older homes, but what sets it apart is its affordability, proximity to water and beaches, and easy access to shopping. Sure, you could find some charming older homes in downtown Sarasota, but you would pay more than double the price.

CONCLUSION

You will usually catch me making videos or talking about shiny new construction or spotlighting neighborhoods with the latest homes on the block. But it was high time to give some love to the older homes. I definitely have a soft spot for them, and it is a dream of mine to live in one some day.

So, if you have any questions about these charming relics of the past or maybe you're curious about other areas where you can find similar older homes, I'd be more than happy to lend a hand and share what I know. After all, there's something truly special about these timeless beauties, and I'd love to help you find your own piece of history.