10 Essential Questions to Ask When Buying a Condo in Florida
Thinking about buying a condo in Florida? Whether you’re investing, relocating, or purchasing a second home, buying a condominium is different from buying a single-family house. Asking the right questions is key to protecting your investment and avoiding hidden surprises.
As a trusted Florida real estate expert, Svetlana Paulson (561-543-2186) of Realty7LLC is here to guide you through the process with confidence.
1. Is the Condo Building Eligible for Financing?
Not all buildings in Florida qualify for traditional financing. Lenders assess both your loan type and the condition of the building. If you’re buying as a primary residence, second home, or investment property, loan requirements will differ. Always confirm financing eligibility before making an offer.
2. What’s Included in the Monthly HOA Fees?
Every building manages its budget differently. Some HOA (Homeowners Association) fees include:
- Cable and internet packages
- Concierge and security services
- Pool and gym access
- Maintenance and insurance
Ask for a detailed breakdown to compare buildings fairly and avoid unexpected expenses.
3. Are There Any Upcoming or Pending Assessments?
Florida buildings, especially near the coast, require constant upkeep. Check if the building has:
- Any planned assessments
- Adequate reserve funds
- Past assessments still being paid off
Also clarify whether the buyer or seller is responsible for these at closing.
4. Can the Buyer Assume an Assessment After Closing?
Don’t assume you can take over an existing assessment. Some buildings don’t allow this. It’s essential to check with the building management or HOA about transfer policies for unpaid assessments.
5. What Are the Rules and Regulations of the Condo?
Each condominium has its own set of rules. Before buying, review:
- Rental restrictions (e.g., how often you can rent out your unit)
- Pet policies
- Renovation guidelines
- Guest access
Understanding these policies helps you determine if the building aligns with your lifestyle or investment goals.
6. What Type of Parking Is Included?
Parking is at a premium in many Florida cities. Ask:
- Is the parking space deeded, assigned, or valet-only?
- Is there a fee for additional spaces?
- Is guest parking available?
This is especially critical in urban or beachside locations.
7. How Is the Building Managed?
Building management affects maintenance quality, communication, and overall experience. Types of management include:
- Self-managed by the owners
- On-site management team
- Off-site property management company
Knowing who handles day-to-day operations can give you insight into how well the building is maintained.
8. Are There Adequate Reserve Funds?
Reserve funds are used for major repairs and emergencies. A healthy reserve means the HOA is financially responsible, which can:
- Reduce the risk of surprise assessments
- Improve building longevity
- Positively affect your financing options
Request a copy of the latest budget and reserve study before making an offer.
9. How Old Is the Building and What Maintenance Has Been Done?
Older buildings may require more frequent updates, especially in Florida’s humid, coastal climate. Ask about:
- Roof replacement history
- HVAC and elevator upgrades
- Concrete restoration or seawall repairs (if applicable)
This helps assess potential costs down the road.
10. Is There a Rental Cap or Waiting Period?
If you plan to rent out your unit, check if:
- There’s a rental cap (maximum % of units rented)
- A waiting period exists before you can rent
- Rentals are short-term or long-term only
Many Florida condos have strict rental rules that can impact your investment strategy.
Ready to Buy a Condo in Florida?
Navigating the Florida condo market can be complex, but you’re not alone. Svetlana Paulson at Realty7LLC brings the expertise, local insight, and personalized support you need to make a smart, informed decision.
📞 Call Svetlana today at 561-543-2186 or visit Realty7llc.com to get started.
