Moving to Florida - Where do I begin? (Oviedo) (Orlando: HOA, insurance)

[booyason]

Hello and please excuse my noobness to the forum!

My wife, two small children and I will be moving from the north-east to the Orlando area, more than likely Oviedo.

We've have researched a few areas and we believe Oviedo is a good fit for our family. There are a few questions that I hope you great Floridians can help with!

1. What are the "better" areas in Oviedo to look for a home?

2. Has anyone found it hard to get approved for loans (200K) with good credit and 70K salary with the banks in the area?

3. Do all homeowners pay HOA? I barely know what that is.. (the noobness continues) Any other unexpected fees? I hear you pay separate for garbage removal? Not part of taxes?

What else should I be thinking about? This is our first move and we appreciate any tips/advice from people who have recently done the same.

Thank you !!!

[colossus]

Can't help with Oviedo-specific information, but here is some helpful info:

1. Talk with a mortgage banker / broker about obtaining a mortgage. A general rule of thumb is that you will be approved for 3 times your gross mortgage if you have average to lower-than-average monthly debts. So if you fall in that category, you should be approved for about a $210k mortgage. MANY things will affect that, but good luck.

2. Most newer communities in Florida have a HOA with fees that can range from $10/month to $500/month. I would say the average HOA is about $75 - $200 / month.

3. Many times you'll pay garbage removal on your county water/sewage bill. Not sure how Oveido does it.

[beckycat]

Almost all of Oviedo is desirable. In your price range, you will definately be in a nice subdivision.

Not all SD have HOA. If they do, it covers taking care of common areas to community pools and what not.

[GregTraub]

1. What are the "better" areas in Oviedo to look for a home?

Can't go wrong with most of Oviedo, depends if your looking for a newer home or older home though. Further East you have the newer communities like Live Oak and Sanctuary, while more central and on the west side are marginally older properties.

2. Has anyone found it hard to get approved for loans (200K) with good credit and 70K salary with the banks in the area?

Banking nowadays isn't local at all, so if you qualify for a 200K loan where you live, you'll likely qualify for a 200K loan here as well. It mostly goes by total monthly payments plus existing debt vs. income. Just get a good recommendation for a loan officer and they can give you a more solid answer in a couple minutes with just a few questions.

3. Do all homeowners pay HOA? I barely know what that is.. (the noobness continues) Any other unexpected fees? I hear you pay separate for garbage removal? Not part of taxes?

Not all no, but pretty much all of the newer subdivisions will have some kind of HOA like another stated. Garbage depends on specific area, sometimes it's included in your tax bill, other times taken care of by HOA dues, and yet other times part of your other utility bills or paid separately. Either way garbage is a very small expense. Other costs to consider, are if you will be required to get flood insurance, and of course taxes and regular insurance.

Have you also considered Winter Springs right next door to Oviedo? Very similar to Oviedo and very desirable as well.

[booyason]

Thanks for all the helpful responses. Is there a neighborhood map available online? Is there a specific area I should be looking at to make sure my kids can go to Lawton Elementary School?

[beckycat]

Originally Posted by booyason

Thanks for all the helpful responses. Is there a neighborhood map available online? Is there a specific area I should be looking at to make sure my kids can go to Lawton Elementary School?

Hope this helps: Welcome to Seminole County Public Schools