Today there is a lot of movement back to the cities by people who have found that when they work in town, living in town is the most cost-effective option. The eco-movement has also contributed to a higher interest in Florida condo shopping where walking and biking are common practice and efficient condos lower the electric bill.  Condos have also become more attractive due to their low-maintenance coupled with a lot of amenities.

While from the outside a building that is housing condo units may appear to be apartments, they are truly not.  The main difference is that condos are owned while apartments are leased. There is also a homeowner association that governs the building and maintains the common areas in most Florida condos. Each homeowner pays dues to the HOA for this purpose. The reasons for buying Florida condos are many and the reasons that people stay away from condos are relevant as well.

From the empty-nesters that are ready to sell the big house where they raised their family and not bother with yard work anymore to the new family that wants to live close to schools and or, the very common condo buyer, the young professional that wants to live close to the office and doesn’t have time for the upkeep and maintenance of a house, condos have become a more fitting way to live for all kinds of people. 

Living in a Florida condominium can give a buyer a greater feeling of safety and community while delivering the conveniences such as pools, fitness rooms, tennis court and possible concierge and valet services. Along with these pieces of luxury also comes less freedom as well. The desire to renovate can be a long drawn out process of approval from the committee. Some hobbies may not be possible that take outdoor storage or work areas and entertainment may be cut back due to noise restrictions.

When you start to shop for a Florida condo, know ahead of time what you hope to get out of your new living space.  As you make your list of buildings to visit, knowing the right questions to ask and what to look for will make your final decision easier. Keep in mind you are buying a part of the building; you have every right to know the answers to these questions:

•  Who is the developer/builder? Ask what other developments they own and check out their reputation.

•  What is the ration of units that are owner-occupied versus those that are leased? A building that is mostly leased units will affect the value of your property.

•  How are the common areas maintained? If the outside and other common areas are in bad shape, take that as a signal the HOA is not doing its job thoroughly.

•  What is the application process? Many buildings have certain steps in place to assure the buyer has financial means needed to live in the building.

The HOA of any Florida condo has a lot of responsibility and power. Not only is this group responsible for the finances of the organization but they set the rules that affect the individual owners like the number of and size of animals you are allowed. The HOA set the rules and hours for the common areas such as the fitness room, swimming pool and more. Some HOA have shared cost of the utilities as well. With this much power, you want to make sure you attend their meetings so that your voice can be heard as well. The HOA dues you pay are for maintenance of the building and common grounds as well as insuring the building itself. Florida condo owners are wise to buy their own insurance policy to cover their personal belongings. Prior to signing your paper work, check out the HOA thoroughly as well as the property management team. A quick visit with your potential neighbors can be the best source of information.