Many Quebecers dream of living by the sea, under the Florida sun. But repeated hurricanes, including the “Milton” which will hit the State, risk disillusioning them. Will homes lose their value? A Quebec real estate broker in Tampa objects.
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Daniel Tremblay, real estate broker in the Tampa Bay region, believes that Florida’s attraction in North America will remain, despite the arrival of natural disasters.
“Florida has always had hurricanes, statistically,” said Mr. Tremblay in an interview on the show The Balance Sheet. “We lived with forest fires in California, in Canada, and there were cities evacuated. So we have to deal with that, but the appeal of the sun (will remain).”
“Florida is the vitamin C of Quebec,” concluded the real estate broker.
According to him, the coming year will be difficult with the damage to be repaired following this hurricane.
The impact on insurance
A review of the insurance companies will be expected, explained Daniel Tremblay. Moreover, it is possible that some companies will go bankrupt, according to him.
“If you are in a condo on the edge of the beach on the first floor, it is certain that your premium will surely double or triple,” he explained to Sylvain Larocque.
But the further you are from the sea, around 20 minutes from the beach, “the lower your premium will be”.
Getty Images via AFP
New properties inland
According to broker Daniel Tremblay, it is better to buy new and far from the beach.
“My dear Quebecers, ask your broker to take you a little bit, just 25 minutes, inland, to newer, more recent developments.”
What he suggests: buy on the second floor in a relatively new concrete building.
“Take your car to go to the sea, and when you’re in Quebec during hurricane season, you won’t eat your nails,” he said on the show.
This is also the case for Mr. Tremblay, who did not want to have to negotiate with rising waters.
“You will be like me and say to yourself, my building is far away, so it will resist the wind.”
– See the full interview with Daniel Tremblay in the video below.
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