Your mortgage payment is only part of the picture. Here's what Florida buyers should budget for.
Homeowners insurance
Insurance costs in Florida can vary widely by location, roof age, construction, and wind mitigation features. Get quotes early in the process, ideally before you're under contract.
Flood insurance
Properties in certain FEMA flood zones may require flood insurance, and it's worth considering even when it isn't required.
Property taxes
Taxes are based on assessed value and local millage rates. A seller's current tax bill may reflect their homestead exemption, so your bill could be higher. Eligible owner-occupants can apply for Florida's homestead exemption.
HOA and condo fees
Many Florida communities have association dues. For condos, building reserve and inspection requirements can affect fees, special assessments, and loan eligibility.
Closing costs
These include lender, title, appraisal, recording, and prepaid items. Your Loan Estimate will itemize them so you can compare.
General educational information only. Not financial, tax, or legal advice, and not a commitment to lend.