Bambu, Both Buyer and Seller in New York

What kind of extra costs go along with purchasing a home on Merrit Island? What about hurricane insurance on a 250k home?

Asked by Bambu, New York Thu May 17, 2012

Help the community by answering this question:


Merritt Island is a barrier island and you should be aware that there may be flood insurance required in some areas. The map can be found at the link attached. There is additional hurricane premiums in our area, as with any coastal area, and if you live closer to the water you are going to find that your premium is much higher. You should check with an agent prior to closing on a home. Another thing to consider is that many older houses will need a roof inspection and may need to be updated in order to keep insurance (even the state run insurance). There also may be additional costs associated with updating the electrical system, there are some main panels that are known to cause fires and therefore many insurance carriers will cancel you if you do not change out the panel.

If you are looking in an area with septics, be aware that many of the newer septic systems (aerobic systems) require constant maintenance, a pricy maintenance agreement with a septic contract on an annual basis along with a biannual inspection by the county. These systems also use additional electric because they have a pump that must run 24/7.

These are all things that a good local realtor can help you discover prior to closing.

If I can be of any help please let me know.

Jinger Knox
Four Star Real Estate

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0 votes Thank Flag Link Wed Oct 30, 2013
As a native resident, I can tell you first hand that Merritt Island is a GREAT place to grow up, raise a family, and retire. We offer unique surroundings between our rivers, creeks, and lagoons and we are equally convenient to shopping, cruising and traveling! We are also unincorporated, therefore our taxes are lower than the cities which surround us. Insurance can be a bit higher than areas to our west because we are a barrier island, but lower than areas to our east because they are closer to the ocean. As in any area, closing costs and insurance vary because of your finance options and the age of the home you choose.
If you are considering a move to our area, contact a local expert and put their experience to work for you!
Good luck!
Your RE/MAX Agent for life,
Theresa Friend
0 votes Thank Flag Link Sun May 20, 2012
Thanks, do you mean 500/month for home insurance including hurricanes?
0 votes Thank Flag Link Fri May 18, 2012
No extra cost because to live on Merritt Island and hurricane Insurance is included in homeowners insurance but there is $500. Please let me know if I can help you in your search for a home here in Merritt Island. I have worked I typos area for about 18 years an know the area very well. Call anytime 321-288-5505. Or email me at Thank you.
0 votes Thank Flag Link Thu May 17, 2012
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