Buying a Home in St. Augustine
Buying in St. Augustine follows standard Florida purchase procedure, but two local factors change the calculus versus a typical Florida suburb: the historic downtown's older housing stock (much of it built well before modern flood-construction codes) and St. Johns County's meaningfully above-average closing-cost and insurance environment. Budget beyond the purchase price accordingly.
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Learn moreClosing Costs Run 2-4% of Purchase Price
Florida buyers in St. Johns County typically pay 2-4% of the purchase price in closing costs beyond the down payment, per a local title-industry source -- on a $650,000 home with 20% down, that's roughly $13,000-$18,000, covering Florida's documentary stamp tax on the mortgage, the nonrecurring intangible tax, lender's title insurance, appraisal, inspection, and prepaid items like homeowners insurance and property tax escrow.
Get Insurance Quotes Before You're Under Contract
Given the real flood exposure in low-lying parts of the city (see insurance-hazard-costs), get homeowners and flood insurance quotes early in the process, not after signing a contract -- a property's FEMA flood zone and elevation certificate can materially change insurance cost and mortgage eligibility, and that's information worth having before committing to a specific address.
Historic-District and Older Homes Need Extra Diligence
Coquina-stone and other historic-district structures can carry age-related systems (roof, plumbing, electrical) and renovation-permitting rules tied to the city's historic preservation review that a standard home inspection alone won't fully surface -- buyers targeting the Old City core specifically should budget for a more thorough inspection and factor in potential historic-preservation permitting requirements for any renovation.
Homestead Exemption and the Save Our Homes Cap
Once you close and file for Florida's homestead exemption (deadline March 2 for the current tax year, per the St. Johns County Property Appraiser), the property becomes eligible for the Save Our Homes cap, which limits annual increases in assessed value to 3% or the change in CPI, whichever is lower. Buyers moving from another Florida homestead can also port up to $500,000 of accumulated Save Our Homes benefit to the new home -- see taxes for the exemption amount and mechanics.
Key takeaways
- Budget 2-4% of purchase price for closing costs beyond the down payment (roughly $13,000-$18,000 on a $650,000 home with 20% down), per a local title-industry estimate.
- Get flood and homeowners insurance quotes before finalizing a specific address -- a property's FEMA flood zone materially affects both cost and mortgage eligibility.
- Historic-district and coquina-stone homes warrant a more thorough inspection and may involve historic-preservation permitting for renovations.
- File for Florida's homestead exemption by March 2 after closing to lock in the Save Our Homes 3%/CPI assessment cap; Save Our Homes portability lets buyers moving from another Florida homestead carry up to $500,000 of benefit forward.
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