What nobody tells you about buying a home in Florida

1. Insurance is the biggest surprise

Most out-of-state buyers (and even some local first-timers) underestimate Florida homeowners insurance by a mile. A typical homeowners insurance policy in South Florida runs $2,500 to $6,000 per year, compared to the national average of about $1,200. And that's if you can find a carrier who's still writing new policies in your area.

Several major insurers have pulled out of Florida entirely in recent years, leaving Citizens Property Insurance (the state-backed insurer of last resort) as the only option in some areas. Citizens is functional but generally more expensive and has strict requirements.

What to do: Before you make an offer, get an insurance quote on the property. Ask your agent for the property's age, roof age, and whether it has impact windows or wind mitigation features — these factors dramatically affect your premium. Read our full Florida homeowners insurance guide here.

2. Flood zones are not optional research

Here's the truth: even if a home is not in a FEMA-designated flood zone, your lender may still require flood insurance. And even if they don't, you should probably get it anyway. A single heavy rain event in South Florida can cause thousands in water damage, and standard homeowners insurance does not cover flooding.

Flood insurance through the National Flood Insurance Program (NFIP) costs $700 to $2,500 per year depending on the zone and coverage level. Private flood insurance is also available and can sometimes be cheaper. If the home is in a high-risk zone (A or V), flood insurance is mandatory if you have a federally backed mortgage.

What to do: Check the FEMA flood map for the property before you make an offer. Your agent should be able to pull this information. If the home is in a flood zone, factor the insurance cost into your monthly budget. Learn more about flood insurance requirements.

3. HOA fees can make or break your budget

In South Florida, HOAs and condo associations are everywhere. A monthly HOA fee of $200 to $800 is common in planned communities, and condo fees can run $400 to $1,200+ depending on the amenities and what's included (insurance, water, cable, etc.).

But the fee itself is only part of the story. You also need to know:

• Special assessments: Has the association done a recent reserve study? Are major repairs (roof, pool, parking lot) coming due? A special assessment can hit you with a $5,000 to $20,000 bill on short notice.
• Rental restrictions: Many associations limit how many units can be rented or require minimum lease terms. If you're planning to rent the property later, this matters.
• Age restrictions: Some communities are 55+ only. Make sure the community fits your lifestyle.
• Insurance costs through the association: Condo associations carry master insurance policies, and the cost is passed through to owners. In Florida, condo insurance premiums have skyrocketed, and some associations are struggling to get coverage.

What to do: Ask your agent to request the HOA's financial documents, meeting minutes, and reserve study before you close. A well-run association with healthy reserves is a green flag. One that's been deferring maintenance or has had multiple special assessments is a red flag.

4. Closing costs are higher than you expect

Most buyers know about the down payment. Fewer budget for the full scope of closing costs. In Florida, buyer closing costs typically run 2% to 5% of the purchase price. On a $350,000 home, that's $7,000 to $17,500 on top of your down payment.

Here's what's included:

• Loan origination fee: 0.5% to 1% of the loan amount
• Title insurance and escrow fees: $1,500 to $3,000
• Appraisal fee: $400 to $700
• Home inspection: $300 to $600
• Wind mitigation and 4-point inspection: $150 to $300 (Florida-specific requirement for insurance)
• Prepaid property taxes and insurance: several months' worth, paid at closing
• Recording fees and transfer taxes: a few hundred dollars

The good news: you can sometimes negotiate for the seller to cover part of your closing costs. In a balanced market, asking for a 3% seller concession toward closing costs is common and reasonable. Use our closing cost calculator to estimate your numbers.

5. The inspection is not optional — and it needs to be thorough

Florida homes have unique inspection needs. A standard home inspection is a good start, but you should also get:

• Wind mitigation inspection: This documents the home's wind-resistant features (roof attachment, impact windows, shutter systems) and can save you hundreds per year on insurance.
• 4-point inspection: Inspects the roof, electrical, plumbing, and HVAC. Many insurers require this for homes over 20 years old. If any of these systems are outdated, you may have trouble getting insurance.
• WDO (wood-destroying organism) inspection: Termites are a real concern in Florida. A WDO inspection checks for active infestations and past damage.
• Mold inspection: Florida's humidity makes mold a common issue. If you smell mildew or see signs of moisture, get a mold test.

What to do: Don't skip the specialized inspections. The $500 to $1,000 you spend on thorough inspections can save you $10,000 or more in surprises after closing. Make your offer contingent on a satisfactory inspection.