Photo of condominium complex used as featured photo for post

Condos: Is it Worth Getting One in Florida?

When it comes to real estate investing, few areas in the United States offer as much fascination as the Sunshine State—Florida. With its beautiful beaches, year-round weather, and a broad assortment of attractions, Florida has long been a popular destination for both visitors and potential homeowners. Among the numerous real estate alternatives in Florida, condos have received a lot of attention.

What Is A Condo?

A condo, often known as a condominium, is a housing or residential complex with separate units, each of which is owned by an individual condo owner. When a person leases a condominium, they do it directly from the condominium owner.

Condo owners are in charge of what happens in their individual units, including upkeep and repairs. Aside from that, they must pay monthly fees to a homeowners association (HOA). The fees help to fund the maintenance of shared common areas, building amenities, and the complex’s façade.

Should You Buy One?

Your financial situation will play a significant role when deciding if a condo is right for you. Aside from that, condos offer a number of unique advantages and disadvantages to consider.

Advantages of Buying One

The advantages of buying a condo over renting or owning a single-family house include property ownership with more amenities, less upkeep, and less cost. Condominiums can be an excellent alternative for many people.

  • Accumulate equity: One of the most significant financial benefits of purchasing a condo is the ability to start accumulating equity. Rather than having your money gone when you pay your monthly rent, paying down a mortgage raises your stake in the property and provides you with more options in the future. You can also benefit from any increase in the condo’s reselling value.
  • Amenities: Depending on the complex, you may have access to amenities like a pool or parking garages. Because shared amenities are maintained by your homeowner’s association, you may enjoy them without having to maintain them personally.
  • Security: Many condos have gated entrances or paid security guards. In addition, the proximity of neighbors and having a community around you make condos feel safer for occupants.
  • Less maintenance: Condos are popular among those who want to own a house but don’t want to deal with the maintenance that comes with owning a home. If you want to own a home without having to maintain the lawn, shovel the snow, or fix the roof, a condo may be a good choice.
  • Affordability: Condos are often less costly than regular residences and are ideal for first-time homeowners with low incomes. While condo association fees must be considered, a condo may be less expensive than a free-standing house. If you have put off or ignored homeownership due to financial worries, a condo may be more affordable.
Cons of Buying One

Just like any other house purchase, there are a few things to consider when planning on getting a condo in Florida. If you don’t want to pay extra fees on top of your mortgage or follow community regulations, condo living may not be for you.

  • HOA restrictions and fees: When you purchase a condo building, you also agree to comply with the rules established by its HOA. You’ll also have to pay a monthly HOA fee to keep the shared facilities and building in good condition. These costs commonly vary based on the condo’s location and size.
  • Smaller living space: Large families or buyers who value outdoor space may find a condo too small. Condo homes typically lack private outside space, and you may have to go quite a distance to reach a park or playground.
  • Less privacy: Condos share common areas as well as walls. With this shared area comes a sense of community, but also a loss of privacy. Shared spaces might lead to disturbances due to noise with units being separated only by a single wall partition.
  • Limited personalization: 
    Depending on your HOA’s established regulations, they may restrict alterations to your unit’s exterior and prohibit interior modifications and decorations.

Difference Between Condos and Other Property Types

People sometimes confuse condos with apartments and townhouses due to their similarities in residential living. However, condos have unique characteristics that set them apart.

Condos and Apartments

The key distinctions between a condo and an apartment are who owns it, how it is managed, and its costs:


Condos are often individually owned inside a large complex. When you buy a condo, you own the exact unit you purchase as well as a share of the common facilities and amenities. Condo owners have more control over the interior of their units and are responsible for maintaining and managing their private places.

In contrast, apartments are often owned by a single business or landlord that leases out individual units to tenants. Apartment tenants do not own any element of the building or complex; they are essentially leasing the living space.

Costs and Maintenance

Condo owners are responsible for maintenance and, in certain cases, renovation of their units’ interiors. They must also pay monthly or annual association fees to fund the regular maintenance of common spaces, amenities, and, in certain cases, utilities. Depending on the condo complex, these fees might vary greatly and be quite significant.

Apartment tenants, on the other hand, often have fewer maintenance obligations because landlords normally manage maintenance and repairs for the entire building. Renters pay a monthly rent that typically includes maintenance charges but oftentimes excludes utilities unless otherwise stipulated in the agreement.

Condo Vs. House

People often choose single-family homes over condominiums because they are typically more expensive and located outside metropolitan areas. The decision to opt for a condo or a house in Florida is usually driven by the preference for city living or the need for more square footage.


When you buy a condo, you are purchasing a single unit within a bigger complex or building. You and other condo members share ownership of common facilities and amenities.

Homes, on the other hand, are standalone structures. When you purchase a house, you possess the entire property, including the land on which it stands.

Maintenance and Costs

Condo owners typically pay monthly association fees that cover the maintenance and repair of common areas, amenities, and the exterior of the building. Meanwhile, homeowners are solely responsible for all maintenance and repairs, both inside and outside the house.

Condos often have lower upfront costs, but they involve monthly association fees in addition to mortgage payments. On the other hand, homes have higher upfront costs, including property taxes and homeowners insurance, but they typically do not have association fees.

Condos and Townhouses

A townhouse is the intersection between a condo and a single-family dwelling. Townhomes often have numerous levels and may share walls with neighboring units – but not ones above or below.


Townhouses are typically multi-level, individual homes that share walls with neighboring townhouses. When you purchase a house, you possess the entire property, including the land on which it stands.

Costs and Maintenance

Townhouses often have lower monthly fees or dues compared to condos because they typically have fewer shared amenities and exterior maintenance responsibilities.

Similar to single-family homes, owners are responsible for the maintenance and repairs of both the interior and exterior of their units, as well as any private outdoor spaces like yards or gardens.

So, is it worth getting a condo in Florida? The answer depends on your lifestyle, financial situation, and personal preferences. Florida offers a unique blend of natural beauty, entertainment, and investment opportunities, making it an enticing destination for condo ownership. If you value the convenience, amenities, and lifestyle, a condo in the Sunshine State may indeed be a worthwhile investment.

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