Condos are a popular choice in South Florida, but buyers often overlook the hidden costs beyond the purchase price.
HOA Fees
Monthly or quarterly Homeowners Association (HOA) fees typically cover maintenance, amenities, and reserves. Fees vary widely—anywhere from $200 to over $1,000 per month.
Insurance
- Condo associations carry master insurance policies covering the building’s exterior.
- Owners still need an HO-6 policy to cover interior walls, fixtures, and belongings.
Special Assessments
If reserves are low, condo owners may face special assessments for repairs like roof replacements, elevators, or structural updates.
👉 Before buying, our team carefully reviews condo documents, budgets, and reserves to protect our clients from unpleasant surprises.