Relocating to Florida: What Homebuyers Should Know

Florida attracts new residents for its warm weather, no state individual income tax, and year-round lifestyle. But buying a home here can be different from buying in other states.

Property Taxes

Don't assume the seller's current property tax bill will be yours. After a sale, the property may be reassessed based on its new value. If the home will be your primary residence, Florida's Homestead Exemption may reduce your taxable value and provide additional protections against future assessment increases.

Homeowners Insurance

Insurance deserves attention before you fall in love with a house. The age and condition of the roof, electrical system, plumbing, and HVAC can affect the cost and availability of coverage. Flood insurance may also be needed or worth considering, even when your lender doesn't require it.

Flood Zones

Being near the water doesn't automatically mean a property is in a high-risk flood zone, and being inland doesn't guarantee that it isn't. Check the flood zone and estimated insurance costs early.

Plan for the Real Monthly Payment

Your mortgage payment is only part of the picture. Property taxes, homeowners insurance, flood insurance, HOA or condo fees, and other housing expenses should all be considered.

Location Matters

Florida can vary dramatically from one community to another. Consider commute times, traffic, insurance costs, HOA restrictions, proximity to healthcare, airports, beaches, and the lifestyle you want.

The Advocate Difference

If you're moving to Florida, I'll help you look beyond simply qualifying for a mortgage. We'll consider the complete cost of owning the home so you can make a smart, confident decision before you buy.