Costs at a Glance
Home ownership is exciting and can be a great way to build equity. It also comes with an investment, let’s break down the costs:
COSTS TO CLOSE • Down Payment: Requirements are determined by the mortgage lender. • Closing Costs: Various fees associated with finalizing the home purchase including: • Loan origination • Appraisal
• Title, search, and insurance • Attorney and escrow fees • Recording fees and property taxes • Prepaid interest
• Home Inspection: Costs vary depending on size and complexity of the home. • Property Taxes: The average property tax rate is 0.98% of the assessed value of the property. Note, taxes do range and vary by county. • Homeowners Insurance: Premiums in Florida can be higher due to factors such as hurricanes and other natural disasters. COSTS AFTER CLOSING • HOA Fees: If the property is located in an HOA community, these fees cover amenities, maintenance, and communal services. • Moving Expenses: These vary based on the distance of the move, the amount of belongings you are moving, and whether you hire full-service help or take on some of the work yourself. • Maintenance and Repairs: These expenses can widely vary based on the home you choose to purchase, your agent can help guide estimates based on issues big and small.
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