Snowbird's Complete Guide to Buying a Second Home in South Florida

Every fall, the same thought crosses the minds of millions of people in New York, New Jersey, Ohio, Illinois, Michigan, and Massachusetts: What if I just didn't go back?

Some of them are already clients of mine. If you've been thinking about a South Florida winter home — a place to escape February and March — here's a practical guide to making it happen.

Is a Second Home or Investment Property Right for You?

This is the first question to settle, because it affects how you'll finance the purchase and how you'll use it.

Second home: You occupy it personally for some portion of the year. Banks offer better rates than investment properties (still higher than primary residence). You can rent it occasionally but it's primarily for your use.

Investment / rental property: You primarily rent it out. Higher rates, stricter underwriting, but rental income counts toward your debt-to-income ratio. This is the right structure if you plan to rent it most of the year.

Many snowbirds buy as a second home and rent it during the summer when they're not there — a perfectly reasonable approach, as long as your HOA and loan permit it.

Financing a Second Home from Out of State

Second home mortgages for non-Florida residents are standard — your lender doesn't need to be local. Most buyers bring their existing bank or mortgage broker. A few things to know:

• Expect rates 0.5–0.75% higher than your primary residence
• Minimum 10% down for second home (20% avoids PMI)
• Rental income generally cannot be used to qualify on a second home (only investment properties)
• Florida has no state income tax — which can offset carrying costs for buyers from high-tax states

Where Do Snowbirds Buy?

The most popular South Florida destinations for seasonal buyers:

Palm Beach County — Delray Beach, Boca Raton, Boynton Beach, Wellington. Preferred by the classic snowbird demographic — upscale, safe, excellent medical infrastructure.

Broward County — Deerfield Beach, Pompano Beach, Fort Lauderdale. Younger energy, strong rental market, slightly more affordable than Palm Beach.

The Treasure Coast — Stuart, Port St. Lucie. Quieter, less crowded, incredible fishing. Growing rapidly.

Condos vs. Houses: The Snowbird Perspective

Condos win for most snowbirds. Here's why:

• Lock and leave — The HOA handles exterior maintenance, landscaping, and building upkeep while you're gone
• Security — Building entry, cameras, on-site management
• Lower price point — More purchasing power, less cash tied up
• Amenities — Pool, gym, social activities without the maintenance burden

The downside: HOA fees (can run $500–$1,500/month in Palm Beach County), restrictions on rentals, and less privacy.

Houses make sense if you want more space, plan to bring family, or intend to establish Florida domicile (more on this below).

The Florida Domicile Opportunity

Many Northern buyers with high state income taxes eventually establish Florida domicile — making Florida their primary state of residence for tax purposes. This requires:

• Spending more than 183 days/year in Florida
• Getting a Florida driver's license and registering your car
• Registering to vote in Florida
• Filing a Declaration of Domicile with the county

The tax savings can be enormous — especially for retirees with significant investment income or business owners in New York, New Jersey, or California.

Managing Your Property When You're Gone

The most common concern: What happens to my property May through October?

Your options:

1. Seasonal rental — Rent it furnished for the summer. Good income, keeps the property occupied, reduces carrying costs.
2. Professional management — Property managers handle everything for 10–20% of rental income.
3. Leave it vacant — Fine for condos with security, riskier for houses. Budget for periodic walkthroughs.

I can connect you with trusted property managers in every area I serve.

The Buying Process from Out of State

Most of my snowbird clients complete the entire process without moving here first. Here's how it typically works:

1. Video tours — I walk through every property via FaceTime or Zoom before you commit to traveling
2. Targeted visit — You come for 3–4 days, we see 6–10 properties, you write an offer
3. Remote closing — Florida allows remote online notarization. You don't need to be here for closing

I've helped buyers from New York, New Jersey, Massachusetts, Connecticut, and Chicago navigate this process. It's smoother than most people expect.

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Ready to start the conversation? Whether you're 6 months out or 6 weeks from buying, let's talk strategy.

Call or text: 561.460.7841 Email: gonzalo.pereira@compass.com