In a perfect world, buying any kind of Miami Beach real estate would be as simple and straightforward as jotting down a list of groceries and heading to your nearest store to get them.  Alas, buying a home requires a significant amount of preplanning before you decide to star doing any window shopping and that usually begins with determining how much house you can actually afford.

Clearly a major factor is your income as that will also play a role in determining your eligibility for a mortgage, just like your credit score.  Speaking of which, a score of 620 and 660 will allow you to purchase Miami Beach real estate using the popular FHA loan but you’ll need an even higher score if you’re expecting to qualify for a standard mortgage loan.  It’s also good to have plenty of cash on hand to make a significant down payment.

In terms of Miami Beach condos, the majority of them have a homeowner’s associations and the monthly fee you're assessed will be deducted from the total amount you have available to be used towards mortgage payments.  Hence, the no brainer tip here is to have as little debt as possible.
Always remember that regardless of what a Miami Beach real estate lender might suggest you can afford, you don’t have to buy a home for or accept that amount.  Think long term and determine whether those monthly payments can be comfortably accommodated into your other monthly expenditures alongside bills and such.