You’ve just closed on your new Florida home. Here are some important tips on what to do next!
Put your closing package in a safe place; there are instructions on how to make your first payment, surveys, title policy and loan details in that package. You’ll need them in the future. So, keep it with your homeowner’s policy, inspections and any home warranty policies you have.
Prepare For Higher Real Estate Taxes:
Your real estate taxes will go up the year after you close. Your new home price sets a new tax basis, so the tax bill from the previous owner will be lower if they bought the home several years ago.
Immediately Apply For Homestead Exemption:
Florida has several tax exemptions available to qualified homeowners! Application for the exemptions should be made between January 1 and March 1. Applications made after March 1, will apply to the following year.
Set Up A Budget:
Consider automatic payments and prepaying your mortgage. Consider life insurance to pay off the mortgage to cover the sudden loss of a partner or spouse.
Change Your Address Where Necessary:
Make a list of address changes you need to make including your driver’s license and voting registration. Finally, sit back and enjoy your new home. You earned it.