How much is the total house payment in FL-what else do we expect to pay? (Orlando: sales)

[nixau27]

Need help: DH might be moving to FL,,, we don't have an idea how much the total house payment for a house in FL. If we buy a house for 250K, 5% dp, how much (approx) will be the house payment? Some said our home owner's insurance will be higher (we're paying $1K for our house in NoVa now), how much (approx) is the personal property tax/yr ( on our 235K home in NOVa-$1300/yr),,,so we pay approx. $1700/mo (10 down, 6.3% ,). I've also noticed that HOA fees are much higher in FL,,,$200/mo? Why is it that high? I only pay $100 and that includes pool and lawn maintenance around the subdivision.

They also have here in NoVa personal property tax (3 old cars-$400). What else do we expect to pay in FL? We used to live in TX where there's no income tax but I know they'll make it up in some way. Thanks!

[beckycat]

No income tax or personal property tax. They do tax food and clothing 7% which is considered a necessity up north. They just raised all of the registration fees for vehicles. Average car is around $60/yr.

As for HOA, it just depends where you live. Some don't have any, but could be as little as $250/yr to $10K/yr. I don't have any which I prefer. My homeowner's insurance is about $600/yr on a $200K house. My real estate taxes are $1800/yr on a 1600 sq ft home.

I can't imagine Orlando to be more expensive than NoVA.

[nixau27]

Thanks Beckycat! I also heard that the car tags in FL cost $400 per car? I wonder if Orlando will be much cheaper to live in than NoVa? Our house in Nova is only 1600 sq.ft.( we bought it last 2008 for $235K but sits on 1/3 of an acre and like I said, we only pay $1300/yr for property taxes. So I guess Orlando is not that much cheaper? It's hard to decide since my DH will be transferring for his job for the federal gov't and we will probably try to rent the house since we will not be able to sell it right now (not unless we want to lose money on it!) and rent in FL!

I will also have a high schooler and I heard good things abt. "Lake Mary", "Windermere" & "Oviedo",,where should I look that has easy access to the freeway? His job is near the airport? What high schools should I be looking at (and I guess that's where I should concentrate on where to rent or buy a house)?

Thanks for the feedback. Keep it coming pls!

[beckycat]

They just changed it, but yes I believe it costs $400 to bring a car here from out of state. It's a one time fee.

I'd really stay away from Orlando if I had a high schooler. There are nice areas in Orlando, but I'd stick to Seminole County for schools. You mentioned where I live, Lake Mary and yes it is an excellent area. Although, the commute from the airport maybe a bit far. He could take the toll road (417) and it takes about 30-40 minutes to get there. I think Oviedo would be a little closer to the airport and it's still a very good area with good schools.The majority of the high schools are good in Seminole County. I'm not sure about the good ones in Orlando, but I know there are a few.

[SusanVe]

Hi just sold our house and we're relocating to the Orlando area from New England. We plan to lease for a year before buying to make sure that is the area we want to buy in. It's overwhelming when looking at properties to lease, they all sound real good. I'm sure there are areas that we should stay away from but what are they. We want to be near to the parks for when our grandkids come to visit. Any suggestions??? Thanks! Also we're planning on buying a new car. Do you pay sales tax on new cars in Florida? if so what percentage Thanks again!

[annerk]

You pay 7% sales tax on cars.

[SusanVe]

thanks annerk Also thanks again for recommending Kings Ridge, we're adding that to our list to check out when we arrive in Fl

[towney]

Your estimate housing payment would look something like this:
250K purchase w/ 5% down payment.
Loan Amount $237,500 @ 5% 30 year fixed Conventional.
P&I $1,275
Property Taxes $ 200 based on $2,400 annually. Very well could be less.
Homeowners Ins. $ 120 Based on $1,200 annually
Mortgage Insur. $ 186 Conventional financing. Less each additional 5% down. 20% down = no MI.

Approx.Total PITI+MI $1,781

FHA financing @ 5.25% would lower your payment approx. $9 per month but would raise you loan amount due to the 2.25% MIP to $242,843 and the monthy mortgage insurance stays with you till you sell the home.
General HOA dues depending on the development, # of homes and amenities they have, probably will average $400 per year. HTH

[annerk]

Where I live your HOA dues will be $2400 a year. It just depends on your HOA and the amenities that are offered.

[keithwand]

Part of Orlando goes to Mid and Senior High School in Winter Park and for FL is rated high. Why would you not reccomend Orlando?