This article is to help buyers understand the costs associated with purchasing a home in the Volusia County, FL area. Costs can vary based on location due to property taxes and property insurance along with Homeowner Association Fees and other various fees.

So to start off, any buyer purchasing a home, whether you are financing or paying cash, should do a home inspection through a professional home inspector. This inspection should include a whole home inspection and the proper insurance reports in your area. In our area (Volusia County, FL) the reports required to obtain insurance are the 4-Point and Wind Mitigation Report. The 4-Point Report provides insurance companies with information about the main components of the home, such as the roof, AC, electrical, and plumbing. The Wind Mitigation Report provides information on how the roof is secured to the home, and whether it will qualify for additional deductions on your insurance policy. All these inspections are upfront, out of pocket expenses to the buyer, outside of any closing costs associated with a loan. The costs can range anywhere between $350-$1500 depending on the size of the home, whether there is a pool, any outbuildings, and whether the home has well and septic or is on public utilities.

If you are purchasing a home using a loan, all your closing costs, outside of home inspections, will be lender related and will vary based on the lender you use. These costs increase as the purchase price increases. There are also several different loan types that you can qualify for, which also impact the closing costs and downpayment. We have attached a very generic sample below of an FHA Loan at a Purchase Price of $400,000. Again, this is generic but can give you a good idea of what to expect with an FHA Loan (3.5% down) at that price. These taxes and insurance are based on a home in the Deland, FL area.

If you are buying a home cash and using a local title company (in Deland or the surrounding Volusia County area) you can expect to have the costs of your home inspections and only a small settlement fee from the title company ranging anywhere from $250-$500.