The listing shows a price and maybe a monthly payment. In Florida, that number leaves a lot out. Six bills to ask about before you make an offer.
1. The property tax resets when you buy
Florida caps how fast the assessed value of a homesteaded home can rise: 3 percent a year or inflation, whichever is less. That cap ends when the home sells, and the next year the home is assessed at full market value.
So a longtime owner's tax bill tells you very little about yours. Most county property appraisers have an estimator. Run it with your price.
2. Flood insurance is its own policy
Most homeowners policies do not cover flood. Flood coverage is separate, it usually comes with a 30 day wait, and the price swings with elevation. Get a quote on the exact address, not the zip code. Our insurance guide has more.
3. The hurricane deductible is a percentage
Your policy carries a separate deductible for hurricanes: $500, or 2, 5 or 10 percent of the home's insured value. At 2 percent on a $400,000 home, the first $8,000 of storm damage is yours.
4. Condo dues are catching up
Since the Surfside collapse, Florida requires condo buildings of three stories or more to get structural inspections as they age and to fund reserves for structural repairs. Owners can no longer vote to skip those reserves.
In an older building that can mean higher dues or a special assessment. Ask for the inspection report, the reserve study and any pending assessments before you fall for the view.
5. The seawall may be yours
On a canal, the wall holding up your yard is often the owner's to maintain. Some towns handle it through a yearly assessment, so ask in each one, whether that is Cape Coral, Port Charlotte or Punta Gorda. Ask who pays, how old it is and when it was last inspected. Then ask the same about the dock and the lift.
6. The fees inside the gate
Many newer communities carry a CDD fee, a yearly charge for roads and amenities that rides on the tax bill. HOA dues come on top. Ask for both in writing.
None of this is a reason to stay away
It is a reason to compare towns on the cost to own, not the list price. Two homes at the same price can cost very different amounts to keep.
Every town on our site is scored on affordability, and your match weighs it heavier when you tell us price matters. Find your mile.
General information only. Check the numbers for any home with the county, an insurance agent and a real estate attorney.
