Buying a home in Florida

Florida's effective property-tax rate is about 0.76%of a home's value per year, about the same as the U.S. average of 0.888%. On a $500,000 home that's roughly $3,800 a year.

Full Florida property-tax guide →

Florida involves an attorney at closing, and Florida levies a real-estate transfer/deed tax of about 0.7% — customarily seller-paid. deed documentary stamp; customarily seller-paid, varies by county; buyer mortgage doc-stamp/intangible tax not modeled. On a $400,000 home, estimated closing costs run about $8,357–$12,457 on top of your down payment.

Full Florida closing-costs guide →

Florida runs a housing finance agency with first-time-buyer help: down-payment assistance, below-market first mortgages, and mortgage tax credits.

See first-time buyer programs in Florida →

What you can afford depends on your income, debts, and down payment, not just the home price. Florida's property taxes above feed straight into the monthly payment lenders measure against your income.

Enter your numbers once and see your real affordability range, debt-to-income, and rent-vs-buy break-even for Florida:

Home Buying Steps walks you through the whole process, from checking if you're ready to getting pre-approved to closing day, one clear step at a time, tailored to Florida where the rules differ.

• 1. Are you ready? — budget, credit, rent vs. buy
• 2. Get your finances in order — pre-approval
• 5. Making an offer — earnest money & contingencies
• 10. Closing day — every cost, line by line