Do not budget using land-only assessments
The appraiser may be assessing a vacant parcel or unfinished improvement while the builder markets the home. A later assessment can increase taxable value. Homestead exemption rules and prior-owner assessment caps also do not necessarily carry over to the new buyer.
- Use a hypothetical post-completion tax value
- Verify local special assessments and CDDs
- Ask about exemptions you may be eligible to apply for
Compare policies for the finished structure
Homeowners insurance pricing depends on property-specific details, including construction and wind-mitigation features, replacement cost, location and insurer appetite. If a lender requires flood insurance, add it to the payment even when the sales office did not feature it.
- Obtain a bound-policy estimate before closing
- Check flood-zone and elevation documentation
- Ask whether quoted wind credits require an inspection
Look beyond principal and interest
HOA, CDD or condo charges may change and may not appear in the headline builder payment. A realistic worksheet includes principal, interest, taxes, insurance, any mortgage insurance, assessments and maintenance. Small overlooked items can change the monthly decision.
- Request full association budgets and restrictions
- Consider any special assessments and reserves
- Recalculate the total before deciding on upgrades
Official information
Terms, loan rules, funding and eligibility can change. These references are for education; always confirm the current written terms with the appropriate agency and lender.
Brevard County Property Appraiser ↗