Is a Condo with Low Association Fees Too Good to Be True?

What Buyers Need to Know Before They Buy

For many South Florida buyers, a condo with low monthly association fees sounds like a dream. But before you celebrate the savings, it’s important to ask: Could those low fees end up costing you more in the long run?

When purchasing a condo, especially in Broward or Miami-Dade County, doing proper due diligence is essential. Unlike single-family homes, condo ownership means you’re also investing in the health of the building and its condo association.

Here’s what smart buyers should do before making an offer:

✅ Request the condo association’s budget – Look specifically for reserves (funds set aside for major repairs). No reserves? That’s a red flag.
✅ Ask for the past 12 months of meeting minutes – This can reveal upcoming assessments, complaints, or unresolved maintenance issues.
✅ Review the most recent building inspection reports, including milestone or structural inspections required by Florida law.
✅ Ask about special assessments – Are there any in place, or planned? Who is responsible for paying them and when?
✅ Understand what's covered in the monthly fees – Cheap fees might not include insurance, water, or amenities.

💡 Why reserves matter: If a building needs a new roof, concrete restoration, or elevator repairs and the association has no reserves, guess who foots the bill? You—and possibly to the tune of thousands.

Before you fall in love with the view or the granite countertops, make sure the financial health of the building supports your long-term peace of mind.

📲 Thinking of buying a condo in South Florida? Let’s talk first. I’ll help you ask the right questions, review the right documents, and make a smart investment.