What Does it Cost to Buy a Home in Jacksonville? 

Wondering about the cost to buy a home in Jacksonville, Florida? Buying a home is a significant financial decision, and there are more costs than the price tag of the home. For this reason, it’s important to understand the home-buying process and create a budget.

In this post, our experts at Your Home Sold Guaranteed Realty - Phil Aitken Home Team will answer common questions associated with buying a home in Jacksonville. This way, you can be as prepared as possible before finding your dream home in Jacksonville.

What is the Cost to Buy a Home in Jacksonville? 

It’s hard to define the exact cost to buy a home in Jacksonville, Florida. Some factors that affect the cost of a home are its location, size, condition, and the type of property. In addition, housing market conditions impact home prices. These conditions can fluctuate as often as day-to-day.

As of April 2023, the median listing price for homes in Jacksonville was around $304,000. The median final sales price was around $292,000.

Of course, it’s important to keep in mind that the upfront costs of buying a home don’t include the total costs you’ll pay over time. For example, costs like the down payment, earnest money deposit, and closing fees are paid upfront. 

In contrast, ongoing costs like property taxes, HOA fees, and regular maintenance fees continue while you own the home. It’s equally important to keep these costs in mind before committing to purchasing a home.

What Are the Typical Closing Costs When Buying a Home in Jacksonville?

The bulk of closing costs are paid by the home seller. However, there are a few costs that will be your responsibility as the home buyer. These costs can range between two to five percent of the purchase price and include:

• Home appraisal fees
• Home inspection fees
• Loan origination costs
• Escrow service fees
• Title search costs
• Title insurance costs
• Real estate attorney fees

How Much Should I Expect to Pay For a Down Payment When Buying a Home in Jacksonville?

The down payment for buying a home in Jacksonville varies depending on the sale price of the home, your financial situation, the lender you’re working with, and the type of mortgage you have. But in general, down payments typically range between three to 20% of the home’s purchase price. 

Of course, it’s possible to put as much money down as you want. The larger a down payment you can afford to make, the smaller your monthly mortgage payments will be and the more likely you’ll receive favorable loan terms from your lender. You also won’t be required to take out private mortgage insurance.

However, there are also down payment assistance options to help you if you can’t afford a down payment. With these programs, you can get your down payment as low as zero dollars.

How Much Does a Home Inspection Cost?

The cost of home inspections varies depending on the inspector and the size, condition, and location of your home. In addition, costs can depend on whether you want the entire home inspected or just part of it. But on average, home inspection costs range between $400 to $600. 

How Much Does It Cost To Get A Home Appraised?

The cost of a home appraisal also depends on the size, location, and condition of the home, as well as the individual appraiser. On average, the cost of a home appraisal can fall anywhere from $300 to $600.

What Costs of Buying a Home Are Tax Deductible?

There are a few costs associated with buying a home that are tax deductible. These include:

• Mortgage interest
• Mortgage points
• Property taxes
• Private mortgage insurance

Our Team Can Help You Find The Perfect Home in Jacksonville

Find your dream home in Jacksonville with Your Home Sold Guaranteed Realty - Phil Aitken Home Team. Our team of award-winning realtors has been working in the Jacksonville, Florida, area for years. During that time, we’ve received many five-star reviews from clients who we’ve helped find their dream homes.

These clients love working with us because of our high-quality customer service, exceptional attention to detail, and unique buyer guarantees.

This includes our Buy it Back Guarantee, which acts as a risk-free insurance policy when you buy a new home. This program allows you to return your home to us if you realize it isn’t a good fit after a certain amount of time. Then, we’ll sell it for free.

To learn more about our guarantees or the cost to buy a home in Jacksonville, call (904) 544-5252. You can also fill out the form on this page for more information.