What Are Additional Costs After Closing on Your Home in Orlando, FL?

Congratulations on closing on your new home in beautiful Orlando, Florida! While closing day marks the official transfer of ownership, your journey as a homeowner is just beginning. Being aware of the additional costs after closing allows you to stay proactive and prepared for the exciting responsibilities ahead.

Here’s a breakdown of the most common post-closing expenses every savvy homeowner in Orlando should plan for:

1. Property Taxes

In Orlando, property taxes are based on your home's assessed value and the local millage rate. While some taxes are handled at closing, homeowners are responsible for annual payments. Florida offers potential savings through the Homestead Exemption, so don’t forget to apply if you're eligible!

2. Homeowners Insurance

Though your first year of insurance is typically prepaid at closing, it’s an ongoing cost to keep your investment protected. Insurance premiums vary based on the age, size, and location of your home—but provide essential peace of mind, especially in storm-prone areas.

3. HOA Fees (If Applicable)

Living in one of Orlando’s many planned communities often comes with Homeowners Association (HOA) fees, which cover shared amenities like pools, clubhouses, landscaping, and security. These costs contribute to a well-maintained and enjoyable living environment.

4. Utilities and Maintenance

After moving in, you’ll start managing monthly utilities such as:

• Electricity (Duke Energy or OUC)

• Water and sewer

• Trash collection

• Internet and cable

Regular home maintenance—like lawn care, HVAC servicing, and small repairs—helps protect your investment and enhances the comfort of your new space.

5. Private Mortgage Insurance (PMI)

If your down payment was less than 20%, you may be paying PMI with your mortgage. The good news? PMI can be removed once you reach sufficient equity, and it helps buyers achieve homeownership sooner.

6. Furnishings and Appliances

Turning your house into a home is part of the fun! You may want to budget for new furnishings or appliances, such as a refrigerator, washer/dryer, or stylish décor to suit your taste and lifestyle.

7. Security Systems and Smart Home Features

Orlando homeowners often invest in smart home upgrades and security systems. These additions not only improve safety and convenience but also enhance your property value and day-to-day enjoyment.

8. Pest Control & Lawn Services

Florida’s tropical climate makes routine pest control and lawn care a smart part of homeownership. Regular service helps maintain a healthy home and attractive curb appeal.

Final Thoughts

Becoming a homeowner in Orlando is a major milestone worth celebrating! By understanding and planning for these additional costs after closing, you'll set yourself up for a successful, stress-free experience. These ongoing investments help maintain and grow the value of your new home.

If you’re navigating the homebuying process or preparing for what comes next, our team is here to support you at every stage.

Ready to Buy or Need Help Understanding Costs After Closing?

Contact Glenda Lee, Orlando's trusted Loan Officer, and Tim Lee Sr., expert Realtor®, for guidance tailored to your needs.

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