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Buying a home in Florida is exciting, but it also comes with costs and risks that often catch people off guard. From closing costs to mold concerns, community integration, and long-term market dynamics, there are many factors to weigh before you make the leap.

This article breaks down ten real-world questions about Florida homebuying and relocation—along with detailed answers based on real examples and current market conditions.

1. What Are the Closing Costs on a $700K+ New Construction Home in Florida?

No one ever talks about closing costs, and every state is different. To answer this, I walked through actual settlement statements from three real buyers—MI Homes, Taylor Morrison, and Neal Communities.

Across all scenarios, closing costs included:

• Loan charges (points, admin fees, appraisal, prepaid interest)
• Prepaids/impounds (insurance, taxes, escrow)
• Title and escrow fees (lender’s policy, owner’s policy, settlement fees)
• Government fees & taxes (doc stamps, mortgage tax, recording fees)
• HOA-related fees (admin, capital contributions, hazard insurance premiums, prepaid dues)

The range? 3.4% to 8.3% of the purchase price, not including down payment. The biggest wild cards are prepaid taxes, points you choose to buy down, and HOA fees. A safe broad brush for Florida new construction is 4–5% in closing costs, outside of your down payment.

2. Mold Concerns in Florida Homes

Florida’s rainy climate creates valid worries about mold. If you’re buying new construction, drywall can sit exposed to the elements during the build. The best protection is thorough and frequent inspections:

• Foundation/slab inspection
• Pre-drywall inspection (last chance to see behind the walls)
• Final inspection before closing

It might cost $1,000–$2,000, but catching issues early is far cheaper than remediation later. Always get inspection rights in writing and schedule them properly.

3. Relocating Smoothly to Sarasota

Sarasota makes it easier than most places to integrate quickly. Master-planned suburbs like Lakewood Ranch have dozens of active groups: pickleball clubs, school events, Facebook communities, mom’s groups, and more.

Because so many residents are also relocating from out of state, everyone shares the same experience of “starting fresh.” One of my colleagues described it as feeling like a freshman in college again—everyone’s looking to connect, and it happens more naturally than you’d expect.

4. Living in Lakewood Ranch vs. Nearby Areas

Lakewood Ranch is unique because of its master-planned nature. Neighbors can live in vastly different price points—a $400K townhouse or a $3M estate—but share the same farmers markets, downtown districts, schools, and social clubs.



Living outside the Ranch gives you access to some of these amenities, but the difference is community integration. In an older neighborhood, demographics shift based on who bought decades ago and who moved in recently. In Lakewood Ranch, you’re not at the mercy of just one neighborhood—you have 50+ communities forming the greater whole.

5. Choosing Builder, Community, Lot, and Design Options

If you’ve chosen an area (say, Parrish vs. Lakewood Ranch), the next step is narrowing down:

1. Area first (location, commute, affordability)
2. Community second (what’s available, HOA/CDD structure, lifestyle fit)
3. Builder third (who you trust and what products they offer)
4. Lot & model (premium vs. standard lots, floor plan fit)
5. Design options last (don’t overemphasize upgrades at the expense of location/community)

Design upgrades matter, but they’re further down the priority list compared to picking the right area and builder.

6. Investment Options for Canadians Near Sarasota

For Canadians wanting personal use + rental income near downtown Sarasota, St. Armands Circle, or Siesta Key:

• Rental restrictions are key. Sarasota city limits allow less than 30-day rentals, some barrier islands even allow daily rentals, but HOA rules often override that.
• Cash flow is tough with financing. Many cap rates are quoted on all-cash purchases. Once you add mortgage costs, returns often shrink.
• The “magical triangle” (downtown Sarasota, St. Armands/Longboat, and Siesta Key) is the safest bet for long-term popularity and rental demand.

East of the Trail and Arlington Park can also offer solid options close to the action but at lower prices.

7. The “Peacock” Factor in Communities

I often call certain developments “peacocks”—communities that stand out for something flashy or unique, but aren’t as safe as the central core areas.

• Pros: Innovative, first-mover advantage, unique lifestyle (e.g., Seaflower’s farmers market plan, Beachwalk’s golf-cart access to the beach).
• Cons: More isolated, dependent on one main selling point, riskier for long-term resale.

If you value uniqueness and don’t mind risk, a peacock may be perfect. If you want safety and predictability, stick to core Sarasota locations.

8. Negotiating in New Construction

There’s more leverage now than before, but builders prefer to offer credits rather than drop the base price (to avoid appraisal issues). You can negotiate:

• Mortgage rate buy-downs
• Design studio credits
• Closing cost contributions

Play the total-dollar game: instead of fixating on one area, add up all the incentives and push for the most value you can get—whether it’s applied to price, upgrades, or financing.

9. Could Prices Drop 50% Like 2008?

In 2008–2011, some homes lost half their value, but that was largely due to bad initial purchases and forced sales (overleveraged buyers, speculative loans, inflated lot prices).

Today, I don’t see widespread 50% drops as likely. More realistic? 20–25% corrections where people overpaid for lots, upgrades, or rushed into the wrong homes. The key is making a smart initial purchase: location, community, and long-term viability matter far more than chasing trends.

10. Homeowners Insurance in Florida

Insurance costs make headlines, but the reality is less dramatic than the news suggests.

• Most relocators buy 8–15 miles inland, away from storm surge zones.
• New construction homes are elevated, with modern building codes that keep premiums more reasonable.
• You can (and should) run quotes on specific properties before buying—there’s no need to guess.
• For barrier island homes, insurers may require added protections (impact windows, wind mitigation) to issue coverage, but most buyers still find policies.

Final Thoughts

Buying a home in Florida involves more than just picking a house—it’s about understanding the hidden costs, planning for inspections, choosing the right community, and weighing long-term risks.

If you’d like a personalized relocation plan, the New Home Geeks Audit is a custom guide that outlines specific communities, ideal timing, and next steps tailored to you.

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