Hidden Home Costs

Most buyers focus on the mortgage and down payment, but homeownership costs go beyond that. If you are unprepared, these hidden expenses can hit your wallet hard.

1. Insurance Shock

Florida insurance rates have skyrocketed, with some homeowners seeing 30%+ annual increases. Always get a quote before you buy as your monthly payment could be much higher than expected.

2. Property Tax Surprise

That low tax bill online? It is based on the seller’s rate, not yours. After closing, your property is reassessed at today’s market value, often leading to a big tax jump.

3. HOA Fees & Assessments

Think your HOA fee covers everything? Many communities issue special assessments for big projects like roofs or roads. Always ask about upcoming repairs before buying.

4. Maintenance Adds Up

Salt air, humidity, and storms wear down Florida homes fast. A good rule of thumb? Set aside 1-2% of your home’s value each year for maintenance.

Bottom Line

This is not to deter you from buying a home… I actually strongly encourage it. My goal is to educate you so you do not end up in financial hardship but instead responsibly build equity and grow your net worth through homeownership.

Ready to buy smart? Let’s talk.