Buying New Construction in Florida: The 2026 Guide

Two kinds of "new construction"

Most buyers picture a custom home, but the majority of new homes in Florida are production homes — built by a large builder inside a community and sold from a model. You buy the finished house (or one already under construction) and close with a normal mortgage, just like a resale. Custom builds are different: you finance the construction itself with a loan that releases money in stages as the house goes up.

Financing is not the same as a resale

For production homes the builder pays for construction, and you get a standard conventional, FHA or VA loan once the home has its certificate of occupancy. For a custom build you use a construction-to-permanent (CTP) loan with five to six "draws" tied to milestones — site work, framing, mechanicals, drywall, finishes — and you only pay interest on the money drawn so far.

Because a new home can take months to finish, your rate lock matters. Standard locks run 45–60 days; extended new-construction locks can stretch 90–360 days but cost extra, and delays can add weekly fees. Make sure your lock covers the estimated completion date plus about a 30-day buffer.

Builder incentives: read the fine print

Builders love to advertise "$10,000 toward closing costs" — but usually only if you use their preferred lender (DHI Mortgage, Lennar Mortgage, Pulte Mortgage and the like). Those lenders often charge 0.25%–0.75% above market.

Do the math over the years you will actually own the home. On a $400,000 loan, a 0.50% higher rate can cost roughly $47,000 in extra interest over 30 years — so a $10,000 credit can still be a net loss. The move: get a Loan Estimate from the builder's lender and two outside lenders, then compare the APR and total cost, not just the sticker incentive.

Don't forget impact fees and CDD fees

This is where Florida new-construction buyers get surprised. Impact fees are county charges that fund roads, schools, fire and parks, and they are separate from your closing costs. They vary a lot by county — roughly $8,000–$15,000 in Charlotte and Lee, about $10,000–$13,200 in Sarasota, and around $33,000 in Manatee after a 2025 increase.

Many newer communities also sit inside a CDD (Community Development District), which adds an annual assessment to your tax bill to pay off the community's infrastructure. Ask up front whether impact fees are included in the price or added at closing, and what the yearly CDD amount is.

Buying a brand-new condo? Extra rules apply

New condos need project-level approval from Fannie Mae, Freddie Mac or FHA before you can finance, and often 50–75% of units must be pre-sold first. Under Florida's 2025 reserve law (SB 154), associations can no longer waive reserves for critical structural items like roofs and load-bearing walls — which protects you long-term but can mean higher monthly dues.

Yes, still get an inspection

A new home is not automatically a perfect home. Hire your own independent inspector for the pre-drywall and final walkthrough stages, use the builder's warranty period to document every issue, and bring a buyer's agent to review the contract before you sign — builder contracts are written to protect the builder.

The short checklist

• Compare the preferred lender against two outside lenders (APR + total cost)
• Confirm your rate lock covers completion plus about 30 days
• Ask whether impact fees are in the price or added at closing
• Find out the annual CDD assessment
• Budget $20,000–$40,000 in closing costs beyond your down payment
• Get an independent inspection — pre-drywall and final
• Have a buyer's agent review the contract

New construction can be a great buy in Florida right now, especially with builders competing on incentives — just price the whole deal, not the headline.