Primary residence

If I move to Florida from New York but want to keep my NY home as a vacation home can I change my NY home to a second home and buy in Florida as a Primary residence?  If so are there any costs?
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July 27 2009 - Davie
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Answers (3)

Hello David,

yes you most certainly can make your Florida home your Primary, you would probably need to show employment in Florida some how either a transfer from your existing company or a new job lined up or a fixed income like SS. This of course is for a home that you would Finance a part of (ie a mortgage )
If paying Cash then this would not be needed.

In order for the Florida home to be your homestead it must tbe primary and you would need to live in it a minimum of six months out of the year this will reduce your property taxes substantially and cap the increase at no more than 3% anually.

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July 27 2009
Profile picture for Bob Lowery
Do you have employment lined up in Florida?  Retired?  Occupancy will be the concern if you don't have employment lined up in Florida or fixed income.
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July 27 2009
Profile picture for Broker_Dave
You can buy a new primary residence in Florida, primary Res normaly has a better interest rate and in florida you can homestead for a reduced property tax.
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July 27 2009
 

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