What First-Time Buyers Should Know Before Shopping for Homes in 2026
In 2026, first-time buyers in Florida win by planning around the real constraints that affect approval and affordability: insurance, HOA/condo rules, inspections, and cash-to-close. The "perfect home" is the one you can insure, finance, and comfortably afford after taxes, HOA dues, and escrow, not just the one with the best photos.
If you're shopping in Broward, Miami-Dade, or Palm Beach (including Miramar, Pembroke Pines, Hollywood, and Weston), here's the expectations-vs-reality breakdown that keeps buyers from wasting weekends and protects closings from last-minute surprises.
Expectation #1: "If I'm pre-approved, I'm ready."
Reality: Pre-approval is step one. In 2026, many deals slow down because the property creates conditions (insurance requirements, HOA docs, condo eligibility, repairs).
Do this instead:
Get a strong pre-approval early and keep your finances stable while shopping.
Decide your "all-in monthly payment" ceiling (mortgage + taxes + insurance + HOA).
Avoid common post-approval mistakes that can derail your financing.
Expectation #2: "My monthly payment is basically the mortgage."
Reality: In Florida, insurance and escrow can swing the payment by hundreds per month—and HOA dues can feel like a second mortgage.
What surprises buyers most:
Homeowners insurance premium and deductible structure.
Escrow setup at closing (bigger cash need than expected).
HOA dues and possible special assessments (especially condos).
Do this instead: Compare homes by total payment, not list price. We break down the true cost of homeownership in South Florida, including what most listings don't show.
Expectation #3: "I'll figure out insurance after I'm under contract."
Reality: Insurance shopping is now a timeline item. Waiting can delay (or kill) a closing.
Do this instead:
Price insurance scenarios early when you're serious about a neighborhood or property type.
Know whether a home will likely need a 4-point and/or wind mitigation inspection.
Understand why premiums vary so widely and how to navigate the market.
Expectation #4: "Inspections are optional if the home looks clean."
Reality: In older Florida housing stock, inspections are a buyer protection tool and an insurance tool.
What to plan for:
General home inspection
4-point inspection (roof, electrical, plumbing, HVAC) often required for insurance
Wind mitigation inspection for possible credits/discounts
Do this instead: Use inspections to confirm condition and prevent insurance surprises late in the deal. Knowing what's reasonable to request can also strengthen negotiations.
Expectation #5: "HOA fees are just a number on the listing."
Reality: HOA/condo documents can affect financing, insurance, and your budget.
Do this instead:
Ask what the HOA fee includes (insurance, reserves, amenities, maintenance).
Review rules, reserves, and any known assessments early.
Learn what's normal and what's a red flag before you fall in love with a listing.
Expectation #6: "I need 20% down."
Reality: Many first-time buyers don't need 20% down, but they do need a plan for cash-to-close and reserves.
Do this instead:
Ask your lender for a cash-to-close estimate tied to your price range.
Keep a buffer for inspections, appraisal, escrow setup, and moving costs.
If this is holding you back, explore low-down-payment and first-time buyer options.
Expectation #7: "The best strategy is to stretch for the dream house."
Reality: The best strategy is to buy the home you can afford without stress after the first escrow analysis, insurance renewal, and HOA adjustments.
Do this instead:
Make your shopping list based on "must-haves" and monthly comfort.
Stay flexible on cosmetic items. Prioritize roof, systems, and insurability.
Final takeaway
In 2026, first-time buyers who succeed in Florida aren’t the ones who tour the most homes. They are the ones who shop with clear numbers, plan for insurance early, understand HOA risk, and focus on what can actually close.
Next steps
Get pre-approved in minutes: Start your application now
Explore Florida homebuyer programs: Learn about low-down-payment and first-time buyer options
Book a strategy call: Schedule a call to review your plan and avoid costly mistakes
EZ Funding Group, Inc. NMLS #349022 | Jaime Charouf NMLS #348964 | Equal Housing Lender