First-time home buyer guide for Broward County and South Florida (2026)

October 28, 2026 · Zach Curtis, REALTOR®, Realty Hub

Buying your first home in South Florida is mostly about knowing the real numbers early: not just the price, but taxes, insurance, HOA dues, flood coverage and the building's finances. Here's the process from first search to keys, with the Florida-specific steps that catch first-time buyers off guard.

For a sense of the market: on October 28, 2026, zach.homes showed 10,959 homes for sale across South Florida. Median asking prices ran from $234,889 in Pembroke Pines and $299,000 for Hallandale Beach condos to $460,000 in Miramar and $495,000 in Hollywood. Medians mix condos and houses, so check the type you want.

Step 1: Know your real monthly cost

In Florida, the "extras" can add hundreds a month to the loan payment:

• Property tax. zach.homes estimates about 1.9% of the price a year before exemptions; the real rate depends on the city and taxing districts. It resets to your purchase price after you buy.
• Homeowners insurance. The Florida Office of Insurance Regulation's March 2026 data put average Broward premiums near $6,136 a year for a house and $1,816 for a condo unit policy. Get a quote on the actual home; age of roof and wind mitigation features change it a lot.
• Flood insurance if the home is in a high-risk FEMA zone and you have a mortgage. See flood zones explained.
• HOA or condo dues, plus any special assessment.

Run the numbers with the affordability calculator and the mortgage calculator. Every listing on zach.homes also shows a full-cost estimate with its sources.

Step 2: Get pre-approved

A pre-approval (not just a pre-qualification) means a lender has checked your income, assets and credit. Sellers in South Florida usually expect one with an offer. Compare at least two lenders: the rate, fees and points on the official Loan Estimate. Zach doesn't take referral fees from lenders, so pick the one that's best for you.

Common loan types: conventional (as little as 3% down for some first-time buyers), FHA (3.5% down with a 580+ score, but the condo building must qualify), and VA (0% down for eligible veterans and service members).

Step 3: Line up down payment help

• Florida Hometown Heroes: for eligible first-time buyers working in many occupations, a 0% interest second mortgage of 5% of the first mortgage (from $10,000 up to $35,000), repaid when you sell, refinance or pay off the first loan (Florida Housing). Income limits and funding apply.
• Other Florida Housing programs and Broward County purchase assistance, which open and close with funding. Ask a participating lender what's open now.
• Seller credits can cover part of your closing costs.

"First-time buyer" in many programs means you haven't owned a primary home in the last 3 years, so past owners may still qualify.

Step 4: Agree on representation

Since August 2024, agents working with buyers through the MLS need a written buyer agreement before touring a home with you. With Zach, it's a plain-language buyer agreement that says what he does for you and how he's paid, before the first tour. Read it like any contract and ask questions.

Step 5: Search and tour

Search the full MLS on zach.homes, save homes, and Zach can usually tour the same day when the listing side allows. Filters help with Florida specifics: outside high-risk flood zones, HOA limits, pets, and no association approval. For condos, read condo rules, assessments and SIRS before you fall in love with a unit.

Step 6: Make the offer

Most South Florida sales use the Florida Realtors/Florida Bar contract. You'll choose the price, the escrow deposit (often 1% to 3%, held by the title company or attorney), the inspection period (often 10 to 15 days), financing and appraisal terms, and the closing date. Zach writes and negotiates the offer; for legal questions, use a Florida real estate attorney.

Step 7: Inspections and condo documents

• Home inspection, plus a 4-point (roof, electrical, plumbing, HVAC) and wind mitigation report, which insurers often require on older homes and which can lower premiums.
• Condo: review the budget, milestone inspection, SIRS, minutes and assessments. On a resale condo you can cancel within 7 days (excluding weekends and holidays) after receiving the documents, for contracts from July 1, 2025 (§718.503).
• Seller disclosures, including Florida's required flood disclosure (§689.302).

Step 8: Insurance, appraisal, clear to close

Bind homeowners (and flood, if needed) insurance early, because lenders need it before closing and coverage can be hard to place on some homes. The appraisal confirms the value for the lender. If the building needs association approval, submit the application right after the offer is accepted.

Step 9: Closing costs

Buyers in Broward commonly pay the mortgage doc stamps ($0.35 per $100 of the loan), intangible tax (0.2% of the loan), the owner's title policy, lender fees, and prepaid insurance and taxes. As a rough estimate, plan for 2% to 4% of the price on top of the down payment. You'll get a Closing Disclosure at least 3 business days before closing. See the $250,000 condo example for line-by-line numbers. Watch for wire fraud: always confirm wiring instructions by phone with the title company at a number you already know.

Step 10: Keys, then homestead

If it's your main home, file for the homestead exemption with the Broward County Property Appraiser by March 1 of the year after you buy. It can take up to $50,000 off the assessed value and caps future increases in assessed value at 3% or inflation, whichever is lower (BCPA). In Miami-Dade, file with the Miami-Dade Property Appraiser.

Renting now?

Compare your rent with owning in the buy vs. rent comparison or the rent vs. buy calculator. When you're ready, tell Zach your budget and timing on Ready to buy.

Published October 28, 2026 by Zach Curtis, REALTOR®, Realty Hub, license SL3664129. General information for South Florida, not legal, tax, insurance or lending advice. Laws, programs and prices change; check the official sources above, and ask a Florida attorney, CPA, insurance agent or lender about your situation. Listing numbers are asking prices and rents from BeachesMLS on the date shown. Equal Housing Opportunity. Zach Curtis and Realty Hub follow federal, Florida and Broward County fair housing law. Every listing is open to everyone. We never steer anyone by race, color, religion, sex, national origin, disability, familial status, age, sexual orientation, gender identity, or any other protected class.