Low cost and Florida have now become an oxymoron.
1987 Condo says:
December 2, 2023 at 12:10 pm
Florida has 4 major issues heading their way:
1. Property tax increases
2. Homeowners and auto insurance increases
3. HOA increases (insurance related as well)
4. Condo maintenance fee increases.
#4 – as 0f 2025 condos can no longer defer maintenance and setting aside reserves for maintenance which has been common practice. Condo fees may double or triple as a result and/or include massive assessment fees.
Older condos may simply cease to exist, get bought out be developers who will tear them down, rebuild up to code and sell to a higher end buyer.