Need help buying your first home? Here's where to look

Wondering if now is the time to buy your first house or condo?

With a deluge of properties for sale throughout South Florida, prices are flexible, interest rates reasonable, and sellers are offering incentives to seal a deal.

But a home's price is just the beginning. Taxes and insurance can add as much as 50 percent to your monthly payment, real estate experts warn.

"It seems to me there are a lot of options out there, but you've got insurance and taxes and those are a real killer," said Bob Stroh, director of the University of Florida's Shimberg Center for Affordable Housing. "We're seeing young people staying at home until they are 25 or 30 because they can't afford to buy anything."

To help bridge the affordability gap, programs for first-time buyers are available from the U.S. Department of Housing and Urban Development, the Florida Housing Finance Corp., Broward and Palm Beach counties, and many of their cities.