Introduction
Upsizing your home in Volusia County, Florida, can be exciting. Maybe your family has grown, your now caring for an aging parent or you need more space for hobbies or work. Before making this move, understanding the costs and planning carefully can help you save money.
Table of Contents
Understanding the Current Market in Volusia County
The Price of Homes
Home values in Volusia County have seen a slight decrease. As of early 2025, the typical home value is around $328,055 to $331,866. This may sound high, but it’s down about 3% to 4% from last year. The median sale price sits between $335,000 and $340,000, and homes usually sell in 44 to 72 days.
What This Means for Upsizing
This slight price drop is good news for those looking to upsize. It means you might get a bigger home for less money than before. But remember, knowing the value of your current home helps when planning your finances.
Closing Costs and Fees
Selling your current home and buying a new one isn’t just about the price of the new home and the equity in your current home. There are other costs you need to consider, and they can add up fast.
Fees for Buyers and Sellers
In Florida, typical closing costs are about 2.32% of the purchase price when purchasing a home using a traditional loan.
- If you’re buying a home for the median home price of $335,000, expect to pay around $7,772 in closing costs.
- Homes under $300,000 may have closing costs under $6,960.
- Buying a home with cash means you will have lower closing costs. Costs vary but are usually 1% or less of the purchase price when purchasing a home using cash.
Additional Costs
- Appraisal Fee: $500 to $800. A lender requires this to assess the home’s value and lender required repairs (if any).
- Home Inspection: Costs vary, but it’s always a good idea to know the condition of the home you want. $250-1000.
- Survey: This fee is about $350-1000 and ensures the property’s boundaries are correct and spot any problems like intrusion from a neighbor or disputed property lines.
Planning for Both Homes
When upsizing, budget for closing costs on both the home you’re selling and the one you’re buying. This double cost is important to remember and can be calculated in advance so you can plan ahead.
Check Out Local Programs
Volusia County offers programs that could help you save some money when you buy your home.
Assistance Programs
Volusia County has a Local Housing Assistance Plan (LHAP) that aims to make more affordable housing available. While it mostly focuses on affordable housing, knowing about these programs might help you find cost-saving options. These programs include SHIP, Housing Authority, HomeTown Heroes and more.
How This Helps
While these programs mostly helps people with lower incomes, knowing more about potential savings might be beneficial. Some programs will pay your down payment for you (albiet at a higher then average interest rate) and after a set amount of time (10 years for example) if you do not refinance or sell, the “borrowed” down payment funds are fully forgiven.
Key Things to Consider: Volusia County Upsizing Insights
| Factor | Estimate | What’s Important |
|---|---|---|
| Typical Home Value | $328,055 – $335,000 | Prices are a bit lower, so consider upsizing now. |
| Days to Sale | 44–72 | Homes are selling, but the market’s not too hot. |
| Closing Costs | ~2.32% of purchase price (e.g., $7,772 @ $335K) | Budget for both selling and buying homes. |
| Appraisal/Inspection | $500–$800/appraisal, inspection varies | These are needed for loans and peace of mind. |
| Survey Fee | $250-1000 | It’s key for knowing property boundaries. |
| Local Housing Help | Up to 5% for admin costs on funds | Check for possible cost-saving programs. |
Planning Your Move
Upsizing Opportunity
Now could be a good time to consider upsizing your home. Prices are a little lower, giving you a chance to find a bigger space without paying more than before.
Budget Smart
Don’t forget about closing costs. Keep both home buying and selling costs in mind when setting your budget.
Local Help
Learn about local programs that might save you money. Even if they’re mostly for affordable housing, they could still offer valuable information.
Expert Advice
Having someone who knows Volusia County’s real estate market can make a big difference. I can guide you through selling your current home and buying your next one while helping you make the most of your budget.
Upsizing in Volusia County requires careful planning and budgeting. By understanding the market, knowing all the costs involved, and possibly taking advantage of local resources, you can make a smart move that fits your family’s needs and financial situation. Whether it’s finding the right neighborhood or learning about local assistance programs, having the right information will make your transition to a bigger home a smooth one.
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