[Jillzilla]

I figure on paying for a mortgage.. and the basics.. electric, cable.. how much does insurance run in Florida? are there any other things I should know before buying a house (Port St. Lucie area)? Someone mentioned bugs, and pool costs.. I need to figure out how much its going to cost me.. thanks!

[Sunnydee]

There's been a big discussion about insurance costs here, if you use the search function and type in homeowner's insurance you'll get an idea of what it will cost you. The info on pool maintenance costs can be found the same way, but lots of people do their own pool maintenance to save money.

[TriMT7]

I pay too much for weekly pool service in West Palm - $90/month.... but the neighbor across the street apparently pays $70/month, so I need to change ASAP (and in the future, learn how to do it myself).

Lawn service is typically $20-$25 cut, but if you get your own it will save a bundle.

Home owner's insurance will vary. If you buy a house with shutters or impact glass on every window, it will go down drastically after a wind mitigation inspection. It's well worth the investment if the home you have doesn't have either. Also, having an alarm system will lower your HOI rates, as will the type of roof you have on your house.

[jamesandveybe]

Plan on $500 per year to treat against wood-destroying organisms in, under and around your home. Terminix, etc.

[Retiredcoach]

Many communities in Florida will charge HOA fees which can become very expensive and restrictive.

[sunrico90]

You also need to keep a few thousand $$ available for unforeseen emergencies. If you purchase a new home the warranty of the appliances and equipment will cover any failures, but after the warranty expires, is on you.

Also evaluate the cost of repairs and maintenance for pools, ponds, etc that you will be responsible. Planning and researching can give you a real view of the hidden cost of a house.

[faithfulFrank]

Originally Posted by jamesandveybe

Plan on $500 per year to treat against wood-destroying organisms in, under and around your home. Terminix, etc.

I have not found this to be correct, at least in my experience.
At my home in NY, I've spent nothing in this area. Good home construction helps to minimize this. I've no pest problems whatsoever.

In my home in Florida, I pay an annual $75.00 fee for the pest control company to inspect the house and continue the termite bond. He explained that years ago they treated the property around the house with something that last a VERY LONG TIME, and it just has to have a annual inspection to keep the bond in force. It must work....I have no evidence of pest problems.


As to pools, if you learn some pool care basics, pools are easy and inexpensive to care for.....I spend less then $100 per year on my pool, and it ALWAYS looks great.
Frank D.

[bale002]

Originally Posted by Jillzilla

I figure on paying for a mortgage.. and the basics.. electric, cable.. how much does insurance run in Florida? are there any other things I should know before buying a house (Port St. Lucie area)? Someone mentioned bugs, and pool costs.. I need to figure out how much its going to cost me.. thanks!

First don't forget property taxes: as a rule of thumb, calculate 2% per year of the purchase price. If you declare full-time residency (homestead) you enjoy an around $40,000 exemption off the assessed value for property tax purposes and a 3% annual cap on the increase in assessed value.

Insurance rates can vary significantly depending on circumstances, but, very roughly, also 2% of purchase price, though this may come down as the 2004-2005 hurricanes fade into memory, but all bets are off if we are hit with another round.

As mentioned, you can invest to bring your house "up to code", including impact-resistant windows or hurricane shutters and garage doors, not to mention the roof. Depending on the size of the house, impact windows or hurricane shutters plus garage door can range from $15,000-$30,000, a new roof similar.

As also mentioned, do not forget to investigate if the house you buy is part of a home owners association (HOA), what the monthly fees are, and what the fee covers. In my experience, HOA fees can range from $60 per month up to $500 (if there is golf and other such activities).

In some counties, there are so-called CDC fees, I believe, or somesuch, which, I believe, are county assessments for roads and other infrastructure, but that seems to be more prevalent in northeast Florida. But don't neglect to find out about that.

As mentioned, pool cost can range from $25-$100 a month. In some cases, you can bring a sample of the pool water to a local store that will analyze it for you and prescribe the proper chemicals.

Pest control costs can start as low as $10-$15 a month for basic spraying, maybe you can learn to do it yourself, but dealing with the chemicals may require a license.

Lawn maintenance can start from around $60 a month. The number of times you need to cut the grass can increase in the hotter months.

As also mentioned, there is a good chance that you will encounter problems that require extraordinary maintenance, so you must also have cash reserves.

Finally, though the homestead exemption caps the annual increase in assessed value at 3%, there is no guarantee that local taxing authorities will not raise millage rates. To help reduce that risk, get involved in local politics and insist that local governments live within their means, just like all households, businesses, and government always do, as nature commands? Right?

I hope this covers just about everything in one post.

Good luck!

[Retiredcoach]

Originally Posted by bale002

First don't forget property taxes: as a rule of thumb, calculate 2% per year of the purchase price. If you declare full-time residency (homestead) you enjoy an around $40,000 exemption off the assessed value for property tax purposes and a 3% annual cap on the increase in assessed value.

Insurance rates can vary significantly depending on circumstances, but, very roughly, also 2% of purchase price, though this may come down as the 2004-2005 hurricanes fade into memory, but all bets are off if we are hit with another round.

As mentioned, you can invest to bring your house "up to code", including impact-resistant windows or hurricane shutters and garage doors, not to mention the roof. Depending on the size of the house, impact windows or hurricane shutters plus garage door can range from $15,000-$30,000, a new roof similar.

As also mentioned, do not forget to investigate if the house you buy is part of a home owners association (HOA), what the monthly fees are, and what the fee covers. In my experience, HOA fees can range from $60 per month up to $500 (if there is golf and other such activities).

In some counties, there are so-called CDC fees, I believe, or somesuch, which, I believe, are county assessments for roads and other infrastructure, but that seems to be more prevalent in northeast Florida. But don't neglect to find out about that.

As mentioned, pool cost can range from $25-$100 a month. In some cases, you can bring a sample of the pool water to a local store that will analyze it for you and prescribe the proper chemicals.

Pest control costs can start as low as $10-$15 a month for basic spraying, maybe you can learn to do it yourself, but dealing with the chemicals may require a license.

Lawn maintenance can start from around $60 a month. The number of times you need to cut the grass can increase in the hotter months.

As also mentioned, there is a good chance that you will encounter problems that require extraordinary maintenance, so you must also have cash reserves.

Finally, though the homestead exemption caps the annual increase in assessed value at 3%, there is no guarantee that local taxing authorities will not raise millage rates. To help reduce that risk, get involved in local politics and insist that local governments live within their means, just like all households, businesses, and government always do, as nature commands? Right?

I hope this covers just about everything in one post.

Good luck!

Excellent and thorough post! I guess I am most surprised, but do Floridians cut their lawns more often during the very hot months of August and September?

[DailyJournalist]

I found that a good way to cut maintence costs on appliances (like refrigerator, A/C unit, etc.) is to purchase a service plan from Sears. I did that and have never had to worry about my appliances breaking down, they even come every year to give my A/C maintenance at no charge.

Sears