How to Buy a House in Florida in 2025: 9 Easy Steps

26.4% of homes are selling below the asking price in the Sunshine State. You can save up to $14,000 on a median home price of $407K if you buy a house in Florida NOW! Plus, inventory has also increased 21.4%.

With more homes available, the average time spent on the market has increased to 69 days. This gives you more room to negotiate and secure a competitive deal. With the market in your favor, it’s the perfect time to buy your dream Florida property.

9 Steps to Buying a House in Florida

Here’s a simple 9-step guide that’ll help you discover your place in the Sunshine State:

Step 1: Decide Your Homebuying Purpose

Before you start your home search, decide why you’re buying a home. Are you looking for a long-term residence, an investment property, or a vacation home? It will help you decide on an ideal location and property type.

For instance, Miami’s booming rental market, with a median rent of $3,000, presents a lucrative investment opportunity. Meanwhile, cities like Tampa and Jacksonville attract permanent residents for their family-friendly neighborhoods and affordable living costs.

»💲Can you afford the Sunshine State?
Calculate the cost of living in Florida to estimate expenses like housing, utilities, and transportation. Get a detailed cost breakdown across cities for FREE today 🏡.

Step 2: Assess Your Financial Readiness

With the median home price in Florida at $407,000, it’s important to evaluate your financial situation before buying a home:

• Review Your Credit Score: Your credit score determines how much you can borrow and the interest rates you qualify for. A minimum credit score to buy a house in Florida is 500 for an FHA loan and 620 for a conventional loan.
• Calculate Your DTI Ratio: Lenders use the debt-to-income ratio to determine your mortgage eligibility. Ideally, your monthly debt payments should not exceed 36% of your gross monthly income.
• Determine Your Monthly Mortgage Budget: Decide how much you can afford for your monthly mortgage, including the loan, taxes, and insurance. A good rule of thumb is to keep housing costs under 28% of your gross monthly income.

» Florida Mortgage Calculator: Find how much house you can afford in the Sunshine State now. 🏡

Step 3: Explore Home-Financing Options

In Florida, the average down payment on a home ranges from 10% to 20%. However, there are several financing options to help you cover the costs:

1. Home Loans

Loan Type	Down Payment	Key Benefit	Ideal For
FHA Loans	3.5%	Low down payment, flexible credit score	First-time buyers
VA Loans	0%	No down payment, lower interest rate	Veterans
USDA Loans	0%	No down payment, lower interest rate	Rural homebuyers

2. Assistance Programs

• First-Time Homebuyer Programs: If you’re buying a house for the first time in Florida, you should consider the Florida Assist Program. This program offers up to $7,500 for a down payment with favorable interest rates.
• Down Payment Assistance (DPA) Programs: Explore programs like the Opportunity Advantage Loan Fund or the Fannie Mae Sponsored DPA Assistance Mortgage Program. They provide down payment support with beneficial terms, such as an appraisal fee waiver.

Step 4: Research the Florida Housing Market

In Nov 2024, 26.4% of homes in Florida were sold below list price, indicating that it’s currently a buyer’s market:

• Single-Family Homes: In cities like Fort Myers and Cape Coral homes have stayed 70 days on the market. It means sellers are more likely to negotiate here.
• Affordable Condos: If you’re on a tight budget, Miami has affordable condos under $150,000. These properties saw a 36.4% increase in sales. Explore homes in Miami and find your perfect fit today!
• Waterfront Properties: Home prices in coastal areas are expected to drop. If you’re a snowbird looking for a waterfront property, now could be a good time to buy.

Florida is prone to natural disasters. Hurricane Helene, which hit in Sept 2024, caused $26 million in property damages. So be cautious and assess insurance requirements before you buy a waterfront property.

Step 5: Get Pre-Approved for a Mortgage

86% of sellers favor buyers with a pre-approval. So, get pre-approved before house hunting in Florida to show you’re serious about the purchase and financially capable.

Pre-approval also speeds up the buying process, helps you negotiate better, and reduces delays in the transaction.

Step 6: Start Your Florida Home Search

Traditionally, buyers relied on Florida real estate agents to find a house, but this comes with hefty commissions. Instead, you can also:

• Search for Listings Online: Use high-tech home search sites like Houzeo to explore homes for sale in Florida. Look for neighborhoods that cater to your needs.
• Consider FSBO Homes: You can also search for Florida Homes For Sale By Owner. It allows you to bypass Realtor commissions and directly negotiate with sellers.

Browse Homes For Sale in Florida By Price and Type

Price	Homes For Sale in Florida under $200K	Homes For Sale in Florida under $300K	Homes For Sale in Florida under $400K
Type	Tiny Homes For Sale in Florida	Manufactured Homes For Sale in Florida	Farms For Sale in Florida

» 💡 What is the nicest and cheapest place to live in Florida?
Jacksonville is one of the cheapest places to live in Florida. It offers a low cost of living and a subtropical climate with mild winters and warm summers.

Step 7: Make a Competitive Offer

Once you’ve found a home you like, it’s time to make an offer. Here’s what your home offer should include:

• Seller’s Name and Address: Include the seller’s legal name and property address.
• Offer Price: Offer an amount based on the Fair Market Value (FMV) and comparable sales.
• Down Payment: The portion of the purchase price that you pay upfront.
• Earnest Money: A deposit to show you’re serious, often 1%-2% of the offer price, credited toward the purchase.
• Contingencies: Conditions such as home inspection, appraisal, or financing that must be met for the deal to close.
• Concessions: Requests for the seller to cover some costs, like closing fees or repairs.
• Closing and Move-in Dates: Specify when you aim to close the deal and move in, based on your and the seller’s needs.
• Offer Deadline: Specify the date by which the seller must respond to the offer.

Step 8: Conduct Inspections and Appraisals

In Florida, especially in hurricane-prone areas like Key West and Miami, wind mitigation inspections are crucial. For condos over two stories and 30 years old, a Milestone Inspection is required to assess the structural integrity of the building.

A standard home inspection in Florida should cover:

Once the inspection is complete, your lender will arrange for a home appraisal to ensure the property’s value matches the loan amount.

Step 9: Close on Your Florida Home

Before closing, do a final walkthrough. Check if the home’s condition and repairs are in the agreed-upon condition. It can take 30 to 45 days to close on your Florida home after signing the purchase agreement.

You’ll also need to pay closing costs for buyers in Florida, which are usually 2% to 5% of the home’s purchase price. Once everything is finalized, escrow will record the deed and hand you the keys to your new Florida home!

Should You Buy a House in Florida?

Absolutely! With more homes being sold below the list price, now is the best time to buy a house in Florida. But you need to plan it properly.

Assess your financial situation to ensure your credit score is ready for quick pre-approval. Also, calculate your down payment and closing costs to be fully prepared.

Frequently Asked Questions