BUYERS
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BUYER RESOURCES
Florida Home Buyer Resources
Buying a home in Florida involves more than choosing a property. Use this guide to explore flood risk, insurance, inspections, closing costs, and the steps ahead. I'm Jamie Rose Ward, a Realtor with Mihara & Associates, Inc., serving buyers across Hernando, Pasco, Citrus, Hillsborough, and Pinellas Counties.
1. Set Your Budget
Decide what monthly housing payment fits your budget, including insurance, property taxes, and any HOA fees. If you need a mortgage, talk with a lender about pre-approval and how much cash you’ll need for the down payment and closing costs.
2. Find a Home and Make an Offer
An offer includes more than the price. It also proposes a closing date, deposit, and conditions for the purchase. Review those terms with your agent so you understand what you’re agreeing to before signing.
3. Inspect the Home and Arrange Insurance
Schedule inspections within your contract’s deadlines to learn about the home’s condition and possible repair needs. Get property-specific insurance quotes. If you’re financing, your lender will also review the property’s value and your loan application.
4. Review the Details and Close
Check your closing documents, confirm the amount you need to bring, and ask about any charges you don’t understand. Before closing, use the final walkthrough to check the home’s condition and any agreed repairs. Confirm how and when you’ll receive the keys.
Homebuying Terms to Know
Earnest Money
A deposit made under the purchase contract and held according to the contract's terms. The contract determines when it is due and what happens to the funds.
Under Contract
The buyer and seller have entered into an agreement, but inspections, financing, title work and other contract requirements may still need to be completed before closing.
Appraisal
A professional opinion of a property's value that a lender may require as part of the financing process. It is different from a home inspection, which focuses on the property's condition.
Survey
A property survey identifies items such as boundaries, easements, improvements and possible encroachments. Whether a new survey is needed depends on the property and transaction.
Title Insurance
Title insurance addresses certain ownership and title risks connected with the property. Title and settlement professionals can explain the policies and coverage involved in a particular transaction.
Final Walkthrough
A final walkthrough gives the buyer an opportunity before closing to view the property's condition and check agreed-upon items under the purchase contract.
First-Time Buyer Basics
Being a first-time homebuyer does not always mean you have never owned a home. Some programs use a three-year lookback period when determining first-time buyer eligibility, while others have their own requirements. If you are considering a first-time buyer or down payment assistance program, confirm the current eligibility rules with the participating lender or program.
Written Buyer Agreements
When you work with an MLS participant as your buyer representative, you will generally enter into a written buyer agreement before touring a home together, including a live virtual tour. The agreement explains the services being provided and how compensation will be handled. Broker fees and commissions are negotiable. Simply attending an open house on your own does not require a buyer agreement.
Understanding Florida Flood Zones
FEMA flood maps identify areas of flood hazard. Zones beginning with A or V are high-risk areas; B, C, and X indicate moderate or lower mapped risk. Lower mapped risk does not mean a property cannot flood.
Flood insurance is generally required for homes in high-risk areas with government-backed mortgages. A lender may also require coverage elsewhere. Confirm the property's requirements with your lender and discuss coverage with an insurance professional.
Check the Address Before You Commit
Look up the property on FEMA's Flood Map Service Center and ask about current map information, flood history, and an address-specific insurance quote. A map designation alone is not an insurance quote.
Check the FEMA Flood Map Service Center →
Think Beyond the Purchase
Flood risk can matter beyond the initial purchase because future buyers, lenders and insurers may also consider flood-zone information and insurance requirements. Understanding the property's mapped risk early can also help you ask the right questions about drainage, elevation and other potential mitigation measures.
Florida Homeowners and Flood Insurance
Most homeowners policies exclude flood damage, so ask about flood coverage separately. Obtain property-specific quotes early and confirm what is covered, what is excluded, the deductibles, and when coverage would begin.
Questions to Ask Your Insurance Professional
- What coverage does this property need?
- What are the hurricane and other deductibles?
- Does the insurer require inspection reports or repairs?
- What is the confirmed effective date, and are there waiting periods or restrictions?
Home Inspections in Florida
A home inspection evaluates property condition; an appraisal addresses value. They serve different purposes. Confirm the inspection scope and any additional reports your purchase or insurer requires.
General Home Inspection
A general inspection helps you understand the home's condition and identify issues for further evaluation. Ask the inspector what is included, what is excluded, and whether specialist inspections are appropriate.
Four-Point Inspection
An insurer may request a report on the roof, electrical system, plumbing, and heating and air conditioning, particularly for an older home. Confirm the insurer's requirements before ordering it.
Wind Mitigation Inspection
This report documents qualifying wind-resistant features for an insurer to assess applicable premium credits. The available credit depends on the home's features and the insurer's assessment; savings are not guaranteed.
What Affects Home Inspection Costs?
Request a written quote for the specific property and inspection scope. Ask whether the price includes the main inspection, any additional reports, specialist services, or a return visit. Compare what is included rather than relying on a statewide average.
Read the CFPB home inspection guide →
Understanding Closing Costs
Closing costs are expenses you pay in addition to your down payment. They can include lender fees, appraisal charges, title and settlement services, and prepaid taxes or insurance. The amount depends on your purchase and loan.
01 · EARLY IN THE PROCESS
Loan Estimate
For covered mortgages, the Loan Estimate outlines estimated loan terms and costs. Use it to compare offers and ask the lender about the assumptions. It is not a guarantee of loan approval or the final amount needed at closing.
02 · BEFORE CLOSING
Closing Disclosure
For most home-purchase mortgages, you must receive the Closing Disclosure at least three business days before closing. Compare it with your latest Loan Estimate and ask your lender or closing professional about changes and the cash needed to close.
Hurricane and Storm Preparedness
Know your evacuation zone, prepare a household emergency plan, and follow your county's current instructions. An evacuation zone and a FEMA flood zone serve different purposes, so check both when researching a home.
- Look up your evacuation zone and local alerts.
- Plan where you would go and how you would get there.
- Prepare supplies, medications, documents, and pet needs.
- Confirm insurance coverage and effective dates before a storm threatens.
Related Resources
Explore Tampa Bay communities →
Explore the areas you’re considering for your next home.
Explore financing options and questions to discuss with a lender.
Ready to Make Your Next Move?
Whether you're buying, selling, relocating, or simply figuring out what comes next, Jamie is available to talk through your options.
