Brevard County · Buying
Buying a vacation or second home in Brevard County
Monthly cost with insurance and HOA, and signing from anywhere.
Free · Agents who know Brevard County · Every step in one app
A second home is often a dream you have held onto for a long time: a place near the water, somewhere to spend winters, or a home closer to people you love. It is exciting. It can also be stressful, because you may be buying from far away, in a place where the costs and rules are different from home.
It is normal to wonder if you are seeing the whole picture. Insurance, HOA fees and taxes can look very different on a second home in Florida, and it is hard to judge a house you cannot walk through yourself.
The good news is that you can do almost all of this from a distance with the right people and a clear list. This page shows you the real costs, the rules that change for a second home, and how to stay in control from wherever you are.
What’s different for you
- Know the all-in cost. Insurance and HOA can be higher for second homes near the coast.
- Shop from anywhere. Your agent tours and you follow in the app.
- Sign from anywhere. Most papers are signed in the app.
When you start in CloseHive from this page, your plan already includes these steps, along with the usual ones for buying in Brevard County. You always see what to do next, and your agent handles the how.
What to know
What lenders call a second home
Under Fannie Mae’s rules, a second home is one you live in for some part of the year. It must be a one-unit home, fit to live in all year, and under your control. It cannot mainly be a rental, a timeshare, or a home where a management company controls who stays there. If you plan to rent it out most of the time, lenders treat it as an investment property instead.
No homestead exemption on a second home
Florida’s homestead exemption is for the home you own and live in as your permanent residence on January 1. Only one homestead is allowed per person or family unit. A second home does not get it, so its tax bill is usually higher than a neighbor’s who lives there full time. Use the full tax number when you figure your monthly cost.
Know the all-in monthly cost
Add the loan payment, full property taxes, homeowners insurance, flood insurance if you choose it, HOA or condo fees, utilities while you are away, and someone to check on the home. Near the coast, insurance and association fees can be a large part of the total.
Flood is a separate question
Florida sellers must give a flood disclosure at or before the time the contract is signed. It says whether the seller knows of flood damage, filed a flood claim, or received help such as from FEMA. The form also states that homeowners policies do not cover flood. Talk to a licensed insurance agent early.
HOA and condo papers
If the home is in an HOA, Florida law says you must get a disclosure summary before signing. If you did not, you can cancel within 3 days of getting it or before closing, whichever comes first. Condo buyers get their own review period under Florida condo law, which starts once they sign and receive the condo papers. Read the rules on renting and guests if you may share the home.
If you rent it out sometimes
Rent for stays of six months or less is taxed in Florida: 6% state sales tax plus any county surtax, and Brevard County adds a 5% tourist development tax. Renting a whole home often for short stays can also need a state license. Ask your lender how renting fits with a second-home loan.
Buying and signing from far away
Your agent can tour homes for you by video and attend the inspection. Many closing papers can be signed away from the title office. Ask the title company early how they handle out-of-town signers and what notary options they accept, and plan for any papers that must be mailed.
Your options
What to gather
- A monthly cost sheet with full taxes (no homestead), insurance, flood, HOA and upkeep
- Insurance quotes before you make an offer
- The seller’s flood disclosure, read with your insurance agent
- HOA or condo papers, including rules on renting and guests
- A second-home Loan Estimate from your lender
- A plan for video tours and a video walk-through of the inspection
- Ask the title company how you can sign from out of town
- Someone local to check on the home while you are away
- Call the title company at a number you find yourself before wiring money
Mistakes to avoid
- Using the seller’s tax bill. If the seller has homestead, your bill will be higher. Ask for an estimate without it.
- Getting insurance quotes after the offer. Get quotes first. In Florida, insurance can change the monthly cost a lot.
- Planning to rent without checking the rules. HOA, condo, lender and local rules can all limit renting. Check before you sign.
- Skipping the inspection because you can’t be there. Your inspector and agent can share video and photos. The inspection matters even more when you can’t see the home yourself.
Brevard County in numbers
- The typical home in Brevard County is worth about $339,600, and 77% of homes are lived in by their owners.
- Typical rent here is about $1,556 a month, including utilities.
Free help
Questions people ask
Is a second home loan different?
Yes, rules can differ from a main home; your lender explains.
Is a second home loan different?
Yes. Lenders have rules for second homes: you use it part of the year, it is a one-unit home and it is not mainly a rental. Your lender explains the rest.
Can I get homestead on a second home in Florida?
No. Homestead is for your permanent residence, and only one is allowed per person or family unit.
Can I rent out my second home?
Sometimes, but lender, HOA, condo and local rules may limit it. Short stays are taxed, and frequent short-term renting can need a state license.
Do I need flood insurance?
Homeowners policies do not cover flood. Whether you need it can depend on your lender and the home’s flood zone, so ask your lender and a licensed insurance agent.
Can I buy a home in Florida without seeing it?
Yes, many buyers do. Your agent can tour by video and attend the inspection, and you can review every report before you decide.
Can I close without flying in?
Often, yes. Ask the title company early how they handle out-of-town signers and notary options.
Will I pay capital gains tax when I sell a second home?
The IRS home-sale exclusion is for your main home, so a second home is treated differently. Ask a CPA how it applies to you.