What is the My Safe Florida Home program?
In an effort to help reduce insurance costs for homeowners the My Safe FL Home program does two things:
1- It provides a free home inspection that identifies where a homeowner can make improvements to help limit hurricane damage to their home.
2- Provides money to help eligible homeowners make improvements to their homes that will aid in limiting hurricane damage. This process is known as "hardening".
Eligible homeowners can apply for up to $10,000 in grant money to perform necessary upgrades that include exterior doors and garage doors and upgrading your roof covering.The state provides $2 for every $1 spent up to $5000 on eligible projects, meaning a $15,000 improvement would come in at $5,000 to the homeowner.
Who qualifies for the My Safe Florida Home program?
There are a few caveats to the program. First is that the property must be site-built, meaning no condos, mobile homes, or manufactured homes. The home must also be homesteaded (if you aren't sure you can click here to find your local tax official, where you can check the homestead status of your address), so investment properties won't qualify. Other limiting factors are that the insured value of the home must be less than $500,000, the hurricane inspection must be from after July 1, 2008, the home must be located in the wind borne debris region , and the building permit application for initial construction of the home must have been made before July 1, 2008.
Other considerations:
While the program has some stringent limitations that mean a lot of homeowners won't qualify, there is one other route for non-qualified owners to find relief. Passed in conjunction with the My Safe FL Home program, the Florida Legislature also passed some tax exemptions for home hardening initiatives from July 1, 2022 until June 30, 2024. During this period sales tax is exempt on purchases of impact-resistant doors, impact-resistant garage doors, and impact-resistant windows.
There is no set start date for homeowners to apply, but you can monitor the My Florida CFO website for updates and more information. Its likely that the start date will be some time after the 2022 hurricane season, but if your home can wait then it may be worth waiting for the grant to become effective.
It is also worth noting that things like new windows and roof upgrades can add significant value to your home. And with home prices already soaring you may be able to take advantage of the tax breaks or the grant money (if you aren't moving right away) to maximize profit on your home and the number of offers by upgrading before you sell. Its not for everyone, but making major improvements before your home stands out in a market where more and more buyers are seeking turn-key homes.