Buying a Home in Jupiter, FL

When buying a home in Jupiter, FL, buyers can look forward to the sunny beach days and luxurious real estate Florida is known for. Perhaps one of the most desirable places to live in Palm Beach County, Jupiter offers residents an exciting array of features, from endless water recreation to world-class cuisine and amenity-laden neighborhoods. Jupiter’s real estate offerings are vast. Locals can enjoy riverside properties hugging the Loxahatchee River, massive luxury homes nestled inside verdant golf communities, and traditional homes steeped in Florida charm with large, spacious lots perfect for hosting.

Jupiter is a fun, vibrant, welcoming, and naturally-beautiful Florida destination. The crystal-clear waterways and pristine beaches are its star attraction, with its world-renowned recreation at a close second. Shopping spots like Harbourside Place feature a blend of local haunts and high-end luxe designers, while events on the Riverwalk bring the community together. Families enjoy the top-rated School District of Palm Beach County, and business professionals can easily commute to West Palm Beach for work or pleasure.

 

The soft sands and mesmerizing waves along nearby beaches are just moments away from most Jupiter real estate. Residents can meander into town to reach Jupiter Beach Park’s large, sandy beach. Beachgoers can walk out onto the pier and fish, enjoy a leisurely swim, or kayak and paddleboard the gentle waves. The Jupiter Waterway Trail is another exciting feature for locals, as it spans 40 miles and includes rivers, inlets, and surfing beaches.

 

Harbourside Place is a favorite hangout place with locals. This downtown area features specialty stores and a waterside amphitheater. Catch a nighttime concert or enjoy a day of premier shopping. Grab coastal necessities at Tommy Bahama, then sample quality cuisine at The Woods Jupiter. Harbourside Place is also home to luxury accommodations like the Wyndham Grand Jupiter Hotel.

 

The Plaza Down Under on the Riverwalk, or the Riverwalk Events, is an experience unique to Jupiter. The Riverwalk is accessed from Harbourside Place. The large structure provides the perfect shaded venue and gathering place for festivals and other community traditions. Join Jupiter residents at the Coastal Fest, a friendly event with vendors, bounce houses, and food. The Fall Fest brings a carnival to the city with its live music, local food vendors, and children’s carnival area.

Jupiter boasts a delightful array of neighborhoods, each with its own amenities, character, and charm. Be sure to visit these two neighborhoods when buying a home in Jupiter, FL:

 

Abacoa is a residential area in Jupiter. The community’s main ethos is to provide comfortable, welcoming, and exciting living spaces for residents to enjoy. Locals enjoy various amenities close to their homes, from the serene and upscale lifestyle at Allure at Abacoa to golfing at the Abacoa Golf Club and viewing wildlife at The Island at Abacoa.

 

This residential neighborhood features single-family homes with lake or natural preserve views. Its two parks — The Tot Lot and Slough Park — and their astounding features make it a popular choice for families. Residents appreciate the area’s peaceful atmosphere, which is only enhanced by the picnic-friendly benches along the lake and the oak-lined residential streets.

When buying a home in Jupiter, FL, you should review the costs of homes in the area and make a financial plan. There are numerous fees associated with purchasing a home, such as closing costs, that should be taken into consideration.

 

The median list price for Jupiter homes in January 2023 is $799,000, a slight decrease compared to last year. Buyers searching for condos or townhomes can also expect a lower median home price than last year.

 

Closing costs for a Florida buyer average about 1-3% of the home’s total price. Closing costs consist of recording fees, inspection fees, loan origination fees, appraisal fees, and more. Buyers should also account for property taxes in a home purchase. In Palm Beach County, homeowners pay a tax rate of 1.02% of the property’s assessed fair market value.

Before starting your home search, you should decide which type of loan you wish to use.

 

A conventional loan is the most popular type of loan used by buyers purchasing real estate. While this loan requires a stringent set of requirements buyers must meet to qualify, the loan typically boasts lower interest rates and fees. Buyers pursuing a conventional loan must pay at least 20% of the purchase price.

 

FHA loans are government-backed loans aimed at helping buyers purchase their first home. FHA loan requirements are less strict than conventional loans but come with larger interest rates and higher fees. The minimum down payment buyers must put down is 3.5% of the purchase price. 

 

VA loans are government loans geared toward helping military personnel and their families purchase homes. VA loans don’t require a downpayment and feature low-interest rates and capped closing costs.

A home purchase is a large investment. However, there are many ways you can save. Use the money-saving tips listed below when buying a home in Jupiter, FL. 

 

Although researching different mortgage rates takes extra time and effort, buyers can save thousands. Ask for quotes from multiple lenders when shopping for the best rates. Alongside interest rates, also compare required fees for loan applications and origination.

 

Another way to save is to use a bigger down payment. Paying more initially will make your monthly payments smaller in the long run. You’ll also pay less in interest. Those who put in a downpayment of 20% or more will also avoid paying for private mortgage insurance.

 

Mortgage lenders use buyers’ credit scores to assess how well they’ve managed their finances. Those with higher credit scores are seen as reliable clients who are likely to pay their loans on time, and lenders will typically offer them a lower interest rate. 

 

Buyers can also ask their agent for a commission rebate. A commission rebate is when agents give their clients a percentage of their earned commission to help them with closing costs or other costs related to a move.

Those buying a home in Jupiter, FL, should work with a real estate professional to get the most out of their transaction. From first-rate communication skills to top-notch negotiation and knowledge of the local market, the agents on the Phillips Broom team are more than equipped to help you find the home of your dreams. Contact them to start the process today!