-Florida’s homeownership rate is around 68%, slightly above the national average.
-Median home price in Florida is approximately $400,000 (fluctuating based on location and market conditions).
-Typical steps include: pre-approval for a mortgage, finding a real estate agent, home search, making an offer, home inspection, appraisal, securing financing, and closing.
-Down payment amounts vary; however, conventional loans often require 5-20% down, while FHA loans may allow as little as 3.5% down.
-Closing costs in Florida typically range from 2-5% of the purchase price.
-Property taxes are a significant consideration; homestead exemption can reduce taxable value.
-Common inspections include: general home, wind mitigation, and sometimes, termite inspections due to Florida’s climate.
-The “as-is” contract is frequently used, requiring buyers to conduct due diligence and potentially accept the property in its current condition.
-Due diligence period allows the buyer time to conduct inspections and assessments.
