Buyer Tool

True Cost of Homeownership

Your mortgage is just the beginning. See the complete monthly picture — taxes, insurance, HOA, maintenance, and more — before you make an offer.

Florida buyers: Homeowners insurance in South Florida averages $4,000–$8,000/year — 3× the national average. Factor this in before you fall in love with a home.

Purchase Details

$550,000
$100K$30M
20% ($110,000)
3%50%
%

Ongoing Costs

1.10% ($504/mo)
0.5%3%
1.0% ($458/mo)
0.5%3%

True Monthly Cost

$4,766

per month · $57,196/year

Monthly Breakdown

Mortgage P&I
$2,854
Property Taxes
$504
Homeowners Insurance
$400
HOA Fees
$300
Maintenance Reserve
$458
Utilities
$250
Total Monthly$4,766

Mortgage vs. True Cost

Mortgage only

$2,854

True monthly cost

$4,766

The true cost is 67% more than the mortgage payment alone

Ready to find your number?

Tex will help you find homes that fit your true budget — not just the mortgage payment.

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Tex Guignard

REALTOR® · Keller Williams Realty Services

"You Didn't Talk To Tex."

Local South Florida REALTOR® providing data-driven insights to help you buy or sell with confidence. Serving Palm Beach & Broward Counties — 31 cities including Boca Raton, Coral Springs, Delray Beach, Fort Lauderdale, and Weston.

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Market Data Disclaimer: Market statistics, price estimates, days-on-market figures, absorption rates, and all other market intelligence displayed on this website — including AI-generated analyses, City Spotlight reports, and Market Pulse data — are provided for informational purposes only. They are derived from AI models and publicly available data sources and are not sourced directly from the MLS (Multiple Listing Service) or any official real estate database. Figures may not reflect current MLS data and should not be relied upon as a substitute for a Comparative Market Analysis (CMA) or professional appraisal. Past market performance is not a guarantee of future results. For accurate, up-to-date property valuations and market conditions, please contact Tex Guignard directly at 954-551-7481.

AI Tools & Estimates Disclaimer: All AI-powered tools on this website — including the Seller Opportunity Scanner, ROI Calculator, Rental ROI Calculator, Net Proceeds Calculator, Affordability Snapshot, and Relocation Guide — produce estimates and projections for general informational purposes only. Results are not guaranteed and will vary based on individual circumstances, market conditions, and property-specific factors. These tools do not constitute financial, legal, or tax advice. Consult a licensed financial advisor, CPA, or real estate attorney before making any real estate or investment decision.

Tax & Cost Comparisons Disclaimer: State income tax rates, property tax comparisons, and cost-of-living savings estimates shown on relocation pages are based on publicly available data (Tax Foundation, U.S. Census Bureau) and are provided for general comparison purposes only. Individual tax liability depends on income level, filing status, deductions, and other factors. Florida has no state income tax; however, property taxes, sales taxes, and other local taxes still apply. Always consult a qualified tax professional before making relocation decisions based on tax savings.

School Ratings Disclaimer: School ratings referenced on this website are sourced from GreatSchools.org and reflect publicly available data at the time of publication. Ratings are subject to change and do not constitute an endorsement or guarantee of educational quality. Families should independently verify school information with the relevant school district before making housing decisions.