How Much Does It Cost to Buy a House in Florida?

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By Jon Stubbs Updated May 17, 2024

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The average home buyer in Florida spends between $30,844 and $109,614 when purchasing a $394,728 home — the state median value.

Keep in mind, this is just the cost of buying a home. After you close, you'll still need to budget for all the ongoing costs of homeownership.

Luckily, Clever Real Estate can help make buying a home more affordable. Working with a Clever agent means you'll not only get great service from start to finish, but you could also be eligible for up to 0.5% cash back after closing. That's about $1,974 back on an average-priced home in Florida!

Clever will connect you with a top local agent and send you a check after closing. Contact Clever for full-service realtor recommendations.

Average closing costs in Florida

Expense Amount
Earnest money deposit (1-3%) $3,947 to $11,842
Down payment (3.5-20%) $13,815 to $78,946
Cash reserves $4,210 to $6,315
Closing costs (1.85%) $7,311
Inspection $154
Appraisal $156
Moving $1,250 to $4,890
Total $30,844 to $109,614
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Buyer closing costs in Florida

While the other costs to buy a house in Florida are pretty transparent, Florida closing costs are a bit more nuanced. They're actually a series of smaller costs lumped together into one total. Here's a breakdown of all of the Florida closing costs you'll likely pay when buying a home.

Closing cost Amount
Closing fee $395
Recording fee $318
Title service fees $842
Origination fee $1,974
Underwriting fee $600
Discount points $3,158 per point
Lender's title insurance $25
Owner's title insurance Typically paid by seller
Prorated property tax Varies
Documentary Stamp tax Typically paid by seller
Total $7,311
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Does the buyer or seller pay closing costs in Florida?

The seller typically pays the bulk of the closing costs in Florida. The seller is responsible for costs like title insurance, real estate transfer tax, and recording fees. The seller also pays their listing agent.

  • Traditionally, the seller set the fee they were willing to pay a buyer's agent.
  • In August 2024, a lawsuit against the National Association of Realtors changed this so that buyer's agents have to negotiate rates directly with the buyers they represent.
  • Most buyers will still ask sellers to pay this fee as a concession from their sale proceeds, so the buyer doesn't have to bring more cash to closing.

Will the NAR lawsuit change how real estate commission works?

After losing a lawsuit over their practices in 2024, the National Association of Realtors agreed to change how real estate professionals do business.

As of August 2024, buyer's agents are required to sign an "agency agreement" before providing services to a buyer. This agreement has to specify what services the agent will provide, and how much they will get paid.

Real estate agents are no longer allowed to split commissions with one another. In the past, it was common for a listing agent to collect a 6% fee from the seller, and then split this fee with a buyer's agent who brought a buyer. Going forward, buyer's agents will have to negotiate their fee directly with the buyer they represent.

Learn more about how the lawsuit will impact buyers and sellers.

Keep in mind, closing costs are often negotiable. Motivated sellers will sometimes agree to pay for some of the buyer's closing costs. However, to win the negotiation battle, you'll need a great agent who can work out a deal with the seller. Clever can match you with a top agent in your area that can get the seller to shoulder more of the above costs.

Contact us at Clever for top agent recommendations.

Cost to buy a house in Florida calculator

Ongoing costs of homeownership in Florida

Unfortunately, the cost to buy a house is just the beginning. After closing, you'll officially own the home and begin paying for the ongoing costs of homeownership.

Besides the expenses outlined above, you'll also want to consider private mortgage insurance (PMI) and homeowner's association (HOA) fees.

  • If you pay less than 20% as a down payment on your house, you'll probably have to pay PMI monthly until you get to 20% equity. For the average Florida homeowner, this is between $172 to $581 a month.
  • Some neighborhoods have HOA fees for the care and maintenance of common areas. The national average is around $250 per month.

» MORE: The true cost of homeownership

Top ways to save money when buying a house in Florida

1. Look into better financing options

Paying off debts and getting your credit in the best shape possible before applying for a loan will help you get a better interest rate, which will lower your monthly payments for the life of the loan.

You can also shop around to compare lenders so you get the lowest fees and interest rates available. It may be a good idea to enlist the help of a mortgage broker if you're not sure how to go about vetting lenders.

2. Participate in home buyer programs in Florida

Florida has a variety of programs aimed at helping people begin their homeownership journey (e.g., FL Assist, Hometown Heroes). Some of these programs offer better financing, down payment assistance, or lower application requirements. Others are directed at helping specific demographics like the disabled community, veterans, or first-time home buyers.

» MORE: First-time home buyer programs everyone should know about

3. Partner with an expert agent

Some real estate companies, like Clever, offer home buyers a percentage of their home's price back after the sale finalizes.

That means if you work with a Clever agent, you'll not only get the expertise that helps you get the best deal possible — you could also get up to 0.5% of your home price back after closing!

Find your agent through Clever, qualify for cash back!

Clever matches you with top local agents so you can compare options and choose the best fit. And eligible buyers can get cash back after closing.

Fill out the form below and get started now. Clever's service is 100% free with no obligation.

Methodology

The Clever team of researchers gathered data for property taxes, transfer taxes, and recording fees using publicly available information. We found average costs for attorney fees, title insurance, and other services by requesting quotes from local providers. 

Home values are based on Zillow data as of August 2024.

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Authors & Editorial History

Our experts continually research, evaluate, and monitor real estate companies and industry trends. We update our articles when new information becomes available.

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