WhatDoes It Cost to Own a Fort Lauderdale Condo as a Second Home?

Originally published: November 2026.

A second-home buyer needs to think differently from someone purchasing a primary residence. When I started in this business back in 1995, I saw many buyers fall in love with the Florida sunshine, only to realize later that they hadn’t fully accounted for the financial reality of maintaining a property from a distance. The property may sit unused for significant periods, but the bills never take a vacation.

As of November 2026 on our site, we are seeing 2812 active homes in Fort Lauderdale with a median list price of $750,000. For those looking specifically for the waterfront lifestyle, there are 1182 waterfront properties currently listed, with a median price of $1,050,000. Whether you are browsing Fort Lauderdale homes for sale or diving deep into our waterfront homes for sale in Fort Lauderdale, the math needs to work long-term.

Start With the Purchase

Price and closing expenses are only the beginning. In Florida, closing costs for a buyer can range from 2% to 4% of the purchase price, depending on whether you are financing or paying cash. If you are financing, you will have lender fees, appraisal fees, and potential survey costs. Even if you pay cash, you still have title insurance, documentary stamps, and municipal lien searches. Do not treat these as one-time surprises; build them into your initial capital requirements.

Add Association Fees

In Fort Lauderdale, many second-home buyers gravitate toward condos. Understand exactly what these fees cover. Is it just common area maintenance, or does it include water, trash, cable, and internet? More importantly, review the condo association’s financial statements. If they are planning a major concrete restoration—a common requirement under recent state safety mandates—there may be a special assessment. A "low" monthly fee could mask a looming five-figure bill. Always ask your agent to review the last two years of meeting minutes to identify pending projects.

Add Property Taxes

This is where many buyers stumble. Do not simply look at the current owner’s tax bill on the public property appraiser’s website. If the current owner has lived there for 20 years, their taxes are artificially suppressed by the "Save Our Homes" cap. When you buy, that cap resets. Your taxes will be based on the new, higher purchase price. I always advise my clients to estimate their tax liability at the new purchase price to avoid a shock when the next tax bill arrives. You can read more about how this works in our Florida property taxes guide.

Add Insurance

Insurance is the most volatile line item in Florida. As a second-home owner, you need dwelling coverage (HO-6 policy for condos) plus flood insurance. Do not assume that because the building is insured, you don't need your own policy; the building’s master policy usually only covers the exterior and common areas. Interior walls, fixtures, and personal liability are on you. Before you put in an offer, contact an insurance agent to get a quote based on the specific address. Don't guess; get actual numbers.

Add Utilities

Even an unoccupied property generates ongoing expenses. You need to keep the air conditioning running to prevent mold and mildew, which is a constant battle in our humid climate. Your electricity bill will be lower than if you were there full-time, but it will never be zero. You should also budget for water, sewer, and high-speed internet, which you will likely want to keep active so you can log in to your home security system or remote thermostats from wherever you reside for the rest of the year.

Add Maintenance and Property Oversight

If you are spending months at a time in New York, consider how the property will be monitored while you are away. Are you going to hire a property manager to perform routine checks, turn on the faucets to keep traps from drying out, and check for leaks? If you own a boat, the maintenance is even more specific; you may need to look into a Dock & Draft Match to ensure your vessel fits the local waterways and dockage requirements. Neglect in Florida is expensive; a small leak left unchecked for three months becomes a catastrophic mold remediation project.

Add Travel

This isn't technically a property expense, but it affects the lifestyle budget. How frequently will you travel between your primary residence and your Fort Lauderdale home? Between flights, airport parking, and Uber rides, this travel budget often ends up being as significant as a monthly utility bill. Factor this in if you plan on "snowbirding" seasonally. If you are currently moving from New York to South Florida, your travel patterns will change, and your budget should reflect that.

Calculate the Annual Number

Don't ask only: "Can I buy it?"

Ask: "What will it cost me every year to own and enjoy it?"

I suggest creating a simple spreadsheet. List your monthly HOA fees, a monthly average for your property taxes, your monthly homeowners insurance premium, your estimated utility costs, and a budget for property management or cleaning services. If you are taking out a mortgage, include the principal and interest.

If you want to see how these costs compare to owning a detached house, check out our comparison of condo fees vs. house expenses. Once you have that annual total, divide it by the number of weeks you realistically expect to be in Florida. If you plan to use the property for ten weeks a year, and the annual cost is $30,000, you are essentially paying $3,000 per week to stay there. Does that align with your lifestyle goals?

Before settling on a neighborhood, I encourage you to look at our Fort Lauderdale waterfront neighborhood comparison. Each area—from the luxury high-rises of Las Olas to the quieter pockets along the Intracoastal—has different expectations for maintenance and insurance costs.

Always verify the "homestead" status of any property you look at. Many buyers get confused about the Florida homestead exemption, which can provide significant tax relief but is only available for your primary residence. You will not get this benefit on a second home, so do not include it in your calculations.

Buying a second home in Fort Lauderdale is a significant lifestyle upgrade, but it requires cold, hard accounting to ensure it remains a joy rather than a burden. Take the time to audit these expenses before you sign the contract. If you need a second pair of eyes on a potential property or want to discuss the current market conditions in more detail, you can read more of our client reviews to see how we help buyers navigate these calculations every day. If you are considering selling your current property to fund this purchase, I can provide a comprehensive valuation to help you see exactly how much capital you have to work with.

When you are ready to explore your options, don't guess—get professional, experience-backed advice to ensure your South Florida investment is a sound one. For a deeper dive into how to build a realistic annual budget for your specific situation, visit our guide on building a realistic annual budget for your South Florida home.

Next step: Let's discuss your specific requirements and financial goals. Call me, Simon Gedz, at 954-562-1798.