Most first-time buyers start with a price range. In Miami-Dade, a better starting point is a monthly payment, because two homes at the same price can cost very different amounts to own.
Start with the association
Many condos and townhomes in Doral, Miami and Broward come with monthly HOA or condo fees, and some buildings have special assessments for repairs or reserves. Ask for the budget, the reserve study and any recent or planned assessments before you write an offer.
Get insurance quotes early
Homeowners and flood insurance in South Florida vary with the age of the roof, the building's construction and the flood zone. A quote during your inspection period, not the week before closing, gives you time to adjust.
Plan for closing costs
Lender fees, title insurance, prepaid taxes and insurance, and inspections all come due at closing. Your lender's loan estimate will list most of them. Put all of this together and you will know what your real monthly cost is, which makes every offer you write a confident one.
This article is general information about buying, selling and renting homes in Florida. It is not legal, tax or lending guidance, and things may have changed since it was published.
