Build a budget that goes beyond the down payment. Northeast Florida buyers should account for closing costs and prepaids, a current homeowners-insurance quote, possible flood coverage, property taxes based on the new ownership, HOA dues, CDD or other assessments, inspections, moving, immediate repairs, and an emergency reserve.

What matters most

  • The seller’s current tax bill may reflect exemptions or an assessed value that will not carry over to the buyer.
  • Insurance should be quoted for the actual address, roof, construction, wind features, flood zone, and coverage needs.
  • Newer communities may include both HOA dues and CDD assessments.

How to use this answer

Compare homes using a complete monthly and upfront cost sheet. Pull the tax bill, verify exemptions and non-ad valorem assessments, obtain insurance early, and review HOA documents. Keep separate reserves for moving and repairs so closing does not use every available dollar.

A simple example

A relocating buyer chooses between two similarly priced homes. One has lower taxes but a CDD and higher insurance; the other has no CDD but a larger HOA. The purchase price alone does not show which home is more affordable.

What to review before you decide

  • Confirm the loan program, occupancy, property type, and timeline.
  • Review the complete payment and cash-to-close estimate, not one number in isolation.
  • Verify current program rules and lender requirements before moving money or signing a contract.

Frequently asked questions

Questions readers often ask next.

Will the seller’s homestead exemption transfer to me?

No. Buyers must establish their own eligibility and file with the county property appraiser.

Is flood insurance always included in homeowners insurance?

No. Flood coverage is generally separate and may be required based on the lender’s flood determination.

Sources

Sources used for this article.

  1. Property tax information for Florida taxpayers — Florida Department of Revenue • Accessed August 17, 2026
  2. Apply for exemptions and portability — St. Johns County Property Appraiser • Accessed August 17, 2026
  3. Homeowners insurance consumer information — Florida Office of Insurance Regulation • Accessed August 17, 2026
  4. Loan Estimate explainer — Consumer Financial Protection Bureau • Accessed August 17, 2026