I'm glad to hear you are prepared to take responsibility for this bunny. So many rabbits are bought as children's pets without proper research!
Rabbits are social animals, and live in groups in the wild. Single isolated rabbits can become very depressed. This rabbit will need either lots of human company and stimulation, or ideally a bunny friend to keep him company.
Rabbits need a lot more space than people tend to think. The small cages sold for them are really only suitable as bedrooms. A rabbit should either be let out every day to run in a rabbit proofed room or run, or ideally, have a run as well as a house to sleep in that is at least six foot square and in which it can stand up fully on hind legs.
The pelleted rabbit food is not great for their teeth, although it's better for them than the sort of food that has lots of brightly-coloured chunks and grains in it. Ideally, your rabbit should be eating as much grass and hay as possible. Don't use sawdust for bedding, it's murder on their lungs and not that easy to clean out.
Rabbits love to chew and because their teeth grow constantly, they need to do it a lot. Cardboard boxes to destroy are often popular, and you can buy nests made from untreated woven grasses or willow. If you know anyone with an apple tree, your rabbit will love cuttings from that to chew, and they are usually available free when the tree needs pruning!
Rabbits are very hormonal animals, and they can get very grumpy if not spayed/neutered. Female rabbits are also very prone to reproductive disorders, so it's best to get them neutered early so they can be introduced to a friend.
In my country (Britain) the diseases that require vaccination in rabbits are myxomatosis and RHD - but your country may be different, so consult your vet.
Rabbits can live up to 12 years if well looked after. Ideally they will live indoors, but they can be somewhat messy and destructive companions in small spaces, being hard to completely house train, so in warmer countries without too many nasty predators, they are often kept outside. This is sometimes considered controversial, but in my opinion is OK if the rabbit has plenty of space and company, has a well insulated dry space, for example a shed, to sleep, and is not exposed to predators or disease.
It is NOT OK to keep a single rabbit outside in a small hutch where it will be lonely and vulnerable to predators.
I hope that helps. Try the Rabbit Welfare Association website for more.