Source: Florida Keys Real Estate: What You Really Need to Know Before You Buy 💥🔑
As a real estate agent here in the Florida Keys, I get asked a lot of the same questions from people who are thinking about buying property down here. And honestly, I get it. This place is unique, not just because of the ocean views and warm weather, but because buying a home here is a little different than anywhere else. So let’s address the answer to some of those frequently asked questions, just like I do when I sit down with clients.
If you’ve been thinking about buying in the Keys, maybe some of these answers will help you make a more confident decision.
What You Really Need to Know Before You Buy in the Florida Keys
Buying property down here isn’t like buying somewhere else. There’s a lot of local knowledge that comes into play, and that’s exactly why it helps to talk to someone who knows the area inside and out. These are a few of the most common things that come up in conversations with buyers.
Best Areas for Investment Properties
If you’re looking to invest in real estate in the Keys, there’s not a bad spot to be honest. The entire stretch is solid because of one simple thing: land here is limited. They’re not making more of it. That alone gives property here long-term value.
That said, if you’re specifically thinking about vacation rentals, I always point people to Marathon and Key Colony Beach. Why? Because those areas allow for 7-day minimum rentals, while a lot of the other Keys are locked into 28-day minimums. That flexibility makes a big difference when you’re trying to rent out your place.
Now, if you’re the kind of buyer who’s looking to fix up a property and sell it, or maybe you’ve got an eye for renovations, you’ll find opportunity here too. A lot of folks don’t want to deal with remodeling or adding a pool, so if you’re willing to take on the work, there’s a chance to add real value.
HOAs in the Keys – Are They Common?
This is another question that comes up a lot: “Are there HOAs?” The answer is — kind of. There aren’t a ton, but there are definitely pockets with HOAs. For example, in Marathon you’ve got The Tides or Sunrise Isle. These are communities where you’ve got the typical rules, fees, and structure.
Now, Key Colony Beach is its own city, so there’s technically no HOA, but it feels like one. They do a great job keeping things clean, enforcing basic standards like trash pickup and property upkeep. Some people love that; some people want more freedom. So the good news is — you’ve got both options. If you want an HOA setup, it’s here. If you don’t, there are plenty of neighborhoods without one.
Can I Live in My Home and Rent It Out at the Same Time?
Here’s where things can get tricky. I get asked all the time if someone can live in their house and rent part of it out — like Airbnb-style. The answer depends on how your property is zoned and what kind of building rights it has.
If you’ve got two separate dwelling units, like a full duplex where you live in one half and rent the other, that’s usually allowed. But if you just have one buildable right and try to rent out an enclosure under your main living space? That’s a no. Big no. And definitely don’t try to let someone hook up a camper in your driveway. That’s going to get flagged fast by the city or county.
So, bottom line — if you’re thinking of doing short-term rentals, you really need to look at the property’s zoning, building rights, and the rules in that specific area. It’s not a one-size-fits-all situation down here.
The One Thing You Shouldn’t Do When Buying in the Keys
If I could give one piece of advice to every buyer thinking about moving to the Florida Keys, it’s this: don’t try to do it all on your own.
Look, I get the mindset. You think you’ll save some money by skipping the agent and handling everything yourself. But let me tell you — this market has quirks. Lots of them. And those little details can make or break your experience.
Here’s a real example. You buy a house, close the deal, and show up a month later with your boat and your family, ready to have a great time. You get out there, drop your boat in the water… and then realize the canal is too narrow, or the dock isn’t set up for your boat. Now you’re stuck. That’s just one situation, but there are a bunch of little things like that, from insurance requirements to elevation issues, that you don’t think about unless you’ve done this before.
So yeah, talk to someone local. Someone who knows how things work here. It’ll save you a lot of stress, and probably some money too.
A Few Last Words If You’re Thinking About Buying Here
Buying in the Florida Keys is an incredible opportunity, but it’s not something you want to rush into without the right information. There’s a lot that makes this place special, and with that comes some complexity. The process isn’t the same as buying in a more traditional market, so it really pays to have someone by your side who’s familiar with how things work down here.
I’ve had the chance to help a lot of folks navigate the ups and downs of buying in the Keys, and every situation is different. If any of this sounds like where you’re at, and you think it would help to have a conversation, don’t hesitate to reach out. I’d be happy to walk you through it.