South Patrick Shores · Buying guide
Buying a home in South Patrick Shores
The steps, the Florida costs nobody explains, and a quick monthly estimate.
Free · Agents who know South Patrick Shores · Every step in one app
South Patrick Shores is on the barrier island, next to Patrick Space Force Base.
What would a home here cost each month?
An estimate, not a promise. Change any number to match yours. Insurance and taxes vary a lot by home.
The steps
- Know your budget. Get pre-approved by a lender. In CloseHive, 4 quick questions give you an estimate with no credit check.
- Meet your agent. You'll see local Brevard County agents first and choose the one you like.
- Tour homes. Save homes, ask for tours, and rate each one in 10 seconds so your agent learns what you love.
- Make an offer. CloseHive walks you through every term, one question at a time.
- Inspect and insure. Many homes here are older, so expect your insurer to ask for a 4-point inspection. Get insurance quotes during your inspection period.
- Close. Check your final numbers, call the title company to confirm wiring instructions by phone, and get your keys.
South Patrick Shores in numbers
- The typical home here is valued at about $443,600, which is 31% higher than Brevard County as a whole ($339,600).
- About 76% of homes were built before 1980. Many insurance companies ask for a 4-point inspection (roof, electrical, plumbing, heating and air) on older homes, so plan for it early.
- 88% of homes are lived in by their owners, more than the county's 77%. Homes here change hands less often, so good ones can go quickly.
- Homes on the barrier island usually cost more to insure for wind and flood. Get insurance quotes before your inspection period ends.
- Owners with a mortgage pay about $2,325 a month in housing costs, $271 more than typical rent ($2,054). Many of those owners bought years ago at lower prices, so today's buyers often pay more.
A typical South Patrick Shores home costs about 5.2 times the typical household income here ($85,660 a year), compared with 4.3 times across Brevard. With 10% down, the loan on a $445,000 home would be $400,500, and Florida's mortgage taxes at closing would be about $2,203.
South Patrick Shores next to its neighbors
Of its closest neighbors, Palm Shores and Indian Harbour Beach are valued lower than South Patrick Shores.
Questions buyers ask
Will my property taxes in South Patrick Shores be the same as the seller's?
Often not. Florida limits how fast taxes rise for owners with a homestead exemption, but the limit ends when the home sells. Your tax bill is reset to the new value, so plan with a fresh estimate, not the seller's bill.
What is the Florida homestead exemption?
If the home is your main home, you can take up to $50,000 off its taxable value and cap how fast its assessed value grows. Apply with the county property appraiser by March 1 of the year after you buy.
What taxes do Florida buyers pay at closing?
If you get a mortgage, Florida charges 35 cents per $100 of the loan (stamps on the note) and 0.2% of the loan (intangible tax). Lender, title and prepaid costs come on top.