How Much Should I Budget to Buy a Home in Miami-Dade County?
When people ask, “Carlos, how much should I budget to buy a home in Miami-Dade County?” — the truth is, it depends on your goals, loan type, and location. Whether you’re relocating, upsizing, or buying for the first time, here’s what to expect.
Down Payment & Pre-Approval
FHA loans can start at 3.5% down, while conventional loans often range from 5–20%. Getting pre-approved early helps strengthen your offer — especially in competitive Miami neighborhoods.
Closing Costs & Other Expenses
Plan for 2–5% of your purchase price in closing costs, including title, taxes, insurance, and HOA fees. Don’t forget about flood or hurricane coverage if you’re near the coast.
Property Taxes & Assessments
Taxes vary based on assessed value and exemptions. Condos or new builds may also have special assessments that affect your budget.
Hidden Costs
Inspections, repairs, and wind mitigation updates can quickly add up — especially in older South Florida homes.
Relocation Buyer Advantage
Relocation buyers from New York, California, and New Jersey often find they can afford more home for their money in Miami-Dade.
Takeaway:
Budget for your down payment, add 2–5% for closing costs, and set aside a cushion for insurance and maintenance.
Call to Action: Want a personalized breakdown by ZIP code or neighborhood? Contact Carlos Rojas and the team at ReLink Real Estate to map your buying plan.