June 18th, 2025 | By Vitoria M. De Souza

As an ENTJ-A, I have come to terms that preparation is second nature and required to me. When moving there is no debate in wondering what you should know before relocating to an area. Florida’s allure: sunshine, beaches, and no state income tax, draws homebuyers from across the U.S. and abroad. However, purchasing property in the Sunshine State comes with unique considerations. Whether you’re eyeing a cozy condo or a luxurious estate, here’s a comprehensive guide tailored to three investment tiers:

Tier 1: Homes Under $1 Million

For buyers in this price range, practical preparation is key. One of the first tasks is securing homeowners insurance, which can be challenging in Florida due to hurricane risks and insurer limitations. Begin shopping for coverage early to avoid delays or last-minute surprises. Once the home is yours, arrange utility services such as electricity, water, and internet before moving in to ensure a smooth transition. Safety should also be prioritized—equip your home with fire extinguishers, smoke detectors, and carbon monoxide alarms. Given Florida’s humid climate, scheduling regular pest control is essential, as pests like termites and palmetto bugs are common. Lastly, ensure your HVAC system is inspected and maintained, especially since air conditioning is not just a comfort in Florida—it’s a necessity.

Tier 2: Homes Between $1 Million and $50 Million

In this mid-luxury range, homeownership comes with both elevated responsibilities and opportunities. Property taxes can fluctuate based on the assessed value, so it’s important to research local tax rates and prepare for potential increases, especially if you plan major renovations. Many properties at this level are governed by homeowners associations (HOAs), which may have strict regulations, fees, and requirements; read all HOA documents thoroughly before committing. Flood risk is another concern, particularly in coastal regions. Use FEMA flood zone maps and strongly consider flood insurance, even if it’s not mandated. If this will be your primary residence, don’t forget to apply for Florida’s Homestead Exemption, which can offer valuable property tax relief.

 

Tier 3: Homes Between $50 Million and $300 Million

Ultra-luxury real estate in this category often includes unique considerations that go beyond traditional homeownership. Estate planning becomes crucial, as such high-value assets require specialized legal and financial strategies for protection, inheritance, and taxation. Custom security systems should be designed and installed to safeguard both property and residents. Depending on the scale of the estate, a dedicated staff for property management, landscaping, maintenance, and hospitality may be needed, making human resources planning essential. Zoning laws and municipal regulations should also be thoroughly understood, especially if you intend to use the property for commercial ventures, events, or significant alterations. In this tier, every detail must be managed with precision and discretion.