A Real Story from Ryan
I recently helped a first-time buyer in Pompano Beach who found a condo she loved. The price was $245,000, her monthly payment was going to be around $1,800 with the FHA loan, and she was thrilled. But when we reviewed the HOA documents, the condo association had a special assessment coming: $18,000 per unit for a new roof and balcony repairs. That was $18,000 she did not have. We ended up finding her a different condo in the same area with healthy reserves and no pending assessments. Her HOA fee of $425 a month was $50 more than the first one, but she was not walking into a surprise $18,000 bill. The lesson: always read the condo documents. The cheapest monthly fee is not always the cheapest overall deal.
If you are buying a condo, townhome, or even a single-family home in a planned community, you are almost certainly going to pay HOA fees. In South Florida, over 70% of homes in Broward County are in an HOA. The fees can range from $150 a month for a townhome community to $1,200 a month for a high-rise condo with a doorman and pool.
This guide breaks down what HOA and condo fees cover, what has changed under Florida's new condo laws, and how to avoid getting hit with a surprise special assessment.
Typical HOA Fees in South Florida (2026)
| Property Type | Typical Monthly Fee | What It Covers |
|---|---|---|
| Condo (low-rise) | $350-$600 | Building insurance, exterior, common areas, pool, landscaping |
| Condo (mid/high-rise) | $600-$1,200+ | Same plus elevator, security, staff, amenities |
| Townhome | $150-$400 | Exterior maintenance, landscaping, common areas |
| Single-family (HOA) | $100-$350 | Community amenities, gates, landscaping, security |
Important note: condo fees in Florida have risen 20% to 40% since 2022, driven largely by the new state reserve-funding mandates under SB 4-D. Expect this trend to continue as associations build up their reserves.
Florida SB 4-D: What Changed After the Surfside Collapse
After the Champlain Towers South collapse in Surfside in 2021, Florida passed sweeping new laws for condo buildings. If you are buying a condo in a building 3 stories or taller, these new requirements affect you:
- Milestone inspections: Required at 25 years for coastal buildings, 30 years for inland buildings, then every 10 years after that.
- Structural Integrity Reserve Studies (SIRS): Required every 10 years. These studies assess the condition of roofs, load-bearing walls, foundations, balconies, elevators, and other structural components.
- No more reserve waivers: Associations can no longer waive or reduce reserves for structural items. This is a big deal. Before SB 4-D, many associations voted to waive reserves to keep fees low, creating a ticking time bomb of deferred maintenance.
The good news: buildings are safer. The bad news: fees are going up as associations fund their reserves properly. If you are looking at a condo with very low fees, ask why. It might mean the association is not funding its reserves, which is a recipe for a large special assessment down the road.
Special Assessments: The Hidden Cost
A special assessment is a one-time charge to all unit owners for a major expense that the association's regular budget cannot cover. Common reasons include:
- New roof
- Balcony repairs (a major issue under SB 4-D)
- Elevator replacement
- Structural repairs
- Insurance deductible after a claim
- Legal settlements
Special assessments can range from a few hundred to tens of thousands of dollars per unit. I have seen associations levy $30,000 per unit for balcony and structural repairs. That is real money, and it can come at any time if the association's reserves are underfunded.
Before you buy any condo, request three documents:
- The Structural Integrity Reserve Study (SIRS): Shows how much the building needs in reserves and whether it is adequately funded. A healthy target is 50% or more funded.
- The Milestone Inspection Report: If the building is 25+ years old (coastal) or 30+ years (inland), this report tells you the condition of the structure.
- Special Assessments Disclosure: A written statement of any current, pending, or anticipated special assessments.
I walk through every single one of these documents with my buyers before they make an offer. If you are not getting this from your agent, you should be.
How HOA Fees Affect Your Buying Power
Here is something that surprises a lot of first-time buyers. When you apply for a mortgage, the lender includes your HOA or condo fee in your debt-to-income ratio. That means a $500 monthly HOA fee reduces your buying power by roughly the same amount as a $500 car payment.
Here is a real example:
- A $350,000 condo with a $600 HOA fee might have the same total monthly payment as a $380,000 single-family home with no HOA.
- But the single-family home comes with higher insurance costs, maintenance costs, and no pool or gym.
- The condo might have a lower purchase price but higher monthly fees.
The right choice depends on your priorities. Read our full guide to condo vs townhouse vs single-family.
FHA-Approved Condos: What You Need to Know
If you are using an FHA loan (3.5% down), the condo you buy must be on the FHA-approved list. Not all condos are. The association must meet certain financial and insurance requirements to qualify. If the condo is not FHA-approved, you cannot use an FHA loan to buy it.
This is a common issue with older condos and buildings with low owner-occupancy rates. I can help you check whether a specific condo is FHA-approved before you fall in love with it. Read our full guide to FHA-approved condos in South Florida.
What I Tell Every Buyer About Condo Associations
Based on my experience helping buyers navigate condo purchases in South Florida, here is my honest advice:
- Do not be scared off by high fees: A condo with $600 monthly fees and healthy reserves is often a better buy than one with $400 fees and no reserves. The $400 fee building is likely to hit you with a special assessment.
- Older buildings need more scrutiny: A well-maintained 1980s building with recent inspections and a funded reserve is fine. A 1980s building that has kicked the can down the road on maintenance is a risk.
- Budget for fee increases: Plan on 5% to 10% annual increases in your HOA dues. If that stretches your budget, you might need to look at a lower-priced home.
- Read the meeting minutes: The condo board meeting minutes from the last 6 months will tell you more about the association's health than any single document. Look for mentions of major repairs, disputes, or insurance issues.
A Quick Tip from My Recent Transactions
One thing I always check is the condo association's insurance coverage. In 2026, many condo associations are seeing their master insurance premiums double or triple. That cost gets passed to unit owners through higher fees. If the association's insurance has gone up significantly, expect your fees to follow. I always ask the listing agent for the last 12 months of HOA meeting minutes and the most recent financial statement. A healthy association shares this information readily. An association that hesitates or makes excuses is a red flag.
The Bottom Line
HOA and condo fees are a permanent part of the South Florida housing market. They are not necessarily a bad thing. They pay for amenities, maintenance, and insurance that you would otherwise have to cover yourself. But they need to fit your budget. A $500 monthly fee on a $250,000 condo is the same as a $500 monthly fee on a $350,000 house. The question is not just what you can afford to buy, but what you can afford to own.
If you want to run the numbers on a specific property, reach out for a free consultation. I will pull the condo documents, review the financials, and give you an honest opinion on whether the deal makes sense.
For more on the full picture of homeownership costs, check out our guide to hidden costs of buying a home in Florida and how homeowners insurance affects your budget.