| Estimated Monthly Costs of Home
Ownership in Florida |
| The following is an example
only and is based upon a 4-bedroom house in Sarasota County Florida. Taxes and Insurance
costs vary by location and/or use of the home. You may want to check with your Realtor®
(Estate Agent) for more accurate figures prior to entering into a contract to purchase a
particular home. |
|
| Purchase Price |
$350,000 |
|
| Mortgage Amount |
$245,000 |
|
| Monthly Obligations
(Estimated) |
|
| Mortgage Payment* |
$1324.00 |
|
| Insurance** |
$105.00 |
|
| Property Tax** |
$360.00 |
|
| Electric |
$150.00 |
|
| Water |
$85.00 |
|
| Owners Association (if applicable) |
|
|
| Total Cost per Month |
$2024.00 |
|
| *Mortgage payment based
upon interest rates as of Dec 2004 and subject to change without notice. |
|
| **Insurance and property
taxes are due and payable annually. Insurance is due in advance and taxes are paid in
arrears between November and March. Most mortgage companies will allow you to pay 1/12 of
your annual taxes and insurance together with your monthly mortgage payment as a
convenience into what is known as an escrow account. The funds built up within your escrow
account are then used to make payment on these two annual bills when due. |
|
| Back
to A British Guide to Buying a Home in Florida |
|
