Guide · Updated September 2026 · 7 min read
Buying a homein Miami,start to finish.
What to line up before you look, how offers and inspections work in Florida, what to ask about a condo, and the tax deadline to remember after you move in.
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In this guide
Buying in Miami in eight steps.
Buying in Miami and Fort Lauderdale follows the usual path, with a few Florida twists: insurance that shapes your budget, inspections that insurers ask for, condo rules that changed after 2022, and a property tax exemption you have to apply for yourself.
Step 1
Budget for the whole cost.
In Miami, the monthly cost of a home is more than the mortgage. Add homeowners insurance, flood insurance if the home needs it, property taxes and any HOA or condo fees, then settle on a payment you are comfortable with. Insurance varies from home to home, so get quotes on the homes you like. And do not budget from the seller’s tax bill: Florida law warns buyers that a change of ownership triggers a reassessment, which can mean higher property taxes.
Then get pre-approved. A lender reviews your income, assets and credit and tells you how much you can borrow, and the letter shows sellers your offer is serious. Paying cash? Have proof of funds ready. Either way, get an estimate of the total cash you will need at closing. Selling a home first? Start with a free home value.
Step 2
Choose the area first.
Decide how you want to live before you choose a house: your commute, a coffee within walking distance, the size of the lot, a tower or the water. Some starting points:
- Brickell: high-rise condos on Biscayne Bay, with Metrorail and the free Metromover.
- Coral Gables, Coconut Grove and South Miami: historic, leafy streets.
- Pinecrest: large lots, many around an acre, on quiet residential streets.
- Miami Beach: island living between the bay and the Atlantic.
- Doral, next to the airport, and Fort Lauderdale, with its canals and Las Olas.
Drive your commute at rush hour and walk the streets on a weekend before you decide. Our guide to Miami neighborhoods compares the areas in more depth.
Step 3
The agreement, then the tours.
A written buyer agreement
Since August 17, 2024, agents working with a buyer through the MLS need a signed written agreement before touring homes. It states how the agent is paid, and the fee is negotiable. Read how long it lasts and what it covers, and ask your questions before you sign.
Touring with a purpose
See fewer homes, and see them well. For each one, ask about the roof’s age, the flood zone, the insurance history and the HOA or condo rules and fees, and take notes, because homes blur together after the third showing. This site has no listings: ask Bilal about the homes for sale now in the areas you like.
Step 4
Making an offer.
Your offer is a written contract that becomes binding once both sides sign. Besides the price, it sets:
- Escrow depositMoney held in escrow, often by the title company, and credited to you at closing.
- FinancingCash or a loan, and the days you have to get loan approval.
- Inspection periodThe days you have to inspect and get insurance quotes.
- AppraisalWhat happens if the appraisal comes in below the price.
- Closing dateOften 30 to 45 days out with financing, sooner with cash.
Bilal prepares the offer with you and explains each term before you sign, in English or Spanish. See how Bilal works with buyers.
Step 5
Inspections and insurance.
Use the inspection period for both. Together they answer one question: what will this home cost to own?
The inspections
Book a general home inspection right away. Insurers often want a four-point inspection (roof, electrical, plumbing and HVAC) for older homes and a wind mitigation report, which can lower your premium. A WDO inspection checks for termites and other wood-destroying organisms.
Flood zone and quotes
Standard homeowners policies do not cover flood, and lenders require flood insurance for homes in FEMA high-risk flood zones. Look up the address on FEMA’s Flood Map Service Center and get homeowners and flood quotes before your inspection period ends.
Storms and timing
From June 1 to November 30, a tropical storm or hurricane watch or warning can pause new policies at insurers such as Citizens. Bind your coverage early so a storm does not push back your closing.
Step 6
Buying a condo.
After 2022, Florida requires milestone structural inspections for many condo buildings three stories or taller as they age, and structural integrity reserve studies. Before you commit, ask for:
- The milestone inspection summary and the reserve study
- The budget, the reserves and any special assessments, current or planned
- The rules on pets, rentals, parking and renovations
Many associations must approve buyers before closing, so apply as soon as you sign. At the time of writing, a resale condo buyer can cancel within 7 days of signing and receiving the association’s documents, not counting weekends and legal holidays, and that right ends at closing. If you are financing, ask your lender early whether the building meets its requirements.
Step 7
Appraisal and closing.
If you finance, the lender orders an appraisal. If it comes in below the price, you can renegotiate, cover the difference in cash or, depending on your contract, cancel.
A title company or a real estate attorney handles the closing. In Miami-Dade and Broward, the buyer customarily pays for the owner’s title insurance policy, though the contract decides. With a loan, Florida also taxes the new mortgage, through a documentary stamp tax on the note and an intangible tax that the lender may pass on to you. Remote online notarization is legal in Florida, which helps if you are moving from out of town.
Before you wire money, call the title company at a number you already know is real. Never act on wiring instructions that arrive only by email.
Step 8
After closing, file for homestead.
If the home is your permanent residence, apply for the homestead exemption. You must own it and live in it as your permanent residence on January 1, and apply to the county property appraiser by March 1. It can take up to $50,000 off the assessed value, and Save Our Homes then caps yearly increases in the assessed value at 3% or the change in inflation, whichever is lower.
Moving from another Florida homestead? Portability can carry part of that benefit to your new home.
01Do I need a buyer’s agent agreement in Florida?
If you tour homes with an agent who works through the MLS, yes. Since August 17, 2024, those agents need a signed written agreement before touring. It says how the agent is paid, and the fee is negotiable.
02What inspections should I get when buying a house in Florida?
Buyers usually order a general home inspection. Insurers often want a four-point inspection for older homes and a wind mitigation report, which can lower premiums, and a WDO (termite) inspection is common. Schedule them early in your inspection period.
03Do I need flood insurance in Miami?
It depends on the home. Standard homeowners policies do not cover flood, and lenders require flood insurance for homes in FEMA high-risk flood zones. Check the address on FEMA’s flood maps and get a quote before your inspection period ends.
04Can I cancel a condo purchase in Florida?
For a resale condo, Florida law gives buyers a short window to cancel in writing after signing and receiving the association’s documents: at the time of writing, 7 days, not counting weekends and legal holidays. The right ends at closing. Your contract may give you other ways out, such as the inspection period.
05When do I apply for the homestead exemption?
You must own the home and live in it as your permanent residence on January 1, then apply to the county property appraiser by March 1. It can take up to $50,000 off the assessed value, and Save Our Homes then caps yearly increases in that value.
Where to look
Neighborhoods to explore.
Local guides to the areas Bilal serves.
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