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Looking to buy a condo?
Dated: December 20 2023
Views: 70
"I want to buy a condo, what things should consider?"
It is so important to stay up to date on the ever changing laws of real estate. Did you know that when it comes to condos, there are special requirements that need to be met in order to close a deal?
For example, every 10 years condos must have a Structural Integrity Reserve Study performed. This study will determine the current condition of the building, and also provide any maintenance needed for the future.
So what exactly is listed in that study?
- Roofs
- Structure
- Low bearing Walls
- Primary Structural Systems and Members
- Fireproofing & Protection Systems
- Plumbing
- Electrical Systems
- Waterproofing & Exterior Painting
- Common Area Windows
- Exterior Doors
- Any other Deferred Maintenance Expense >$10k
As your agent, I am constantly reading and staying educated on any changes to these laws. I am also going to ask additional questions, such as:
- Are there any upcoming assessments? Last thing you want is to purchase a condo and get hit with a large assessment that you weren't budgeting for.
- When was the last increase to the monthly assessment?
- What is included in the monthly assessment? (Don't assume the MLS entry is correct on this; ask about reserve funds and roof replacement)
- Are there reserves?
- Is roof replacement included?
- Age of the roof?
- Who is responsible for doors and windows?
- Have the balconies and railings been updated?
- Has there been any concrete restoration?
- Has the new milestone study been completed? This is the new law that came into effect after the tragic collapse of the condos in South Florida (info in my video)
- When was the exterior painted?
- Any updates to the pool, hallways, elevators etc
Pay attention to the level of care as you tour the exterior of a condo. You can tell a lot by the condition of the exterior and how well it is maintained. One investor I worked with always liked to take the stairs just to see the condition of the stairwell. He felt that reflected on how well maintained the building was.
Visit my YouTube channel where I share more about Buying a Condo.
CINDY RHOTON
Cindy Rhoton has been a proud resident of Melbourne Beach for over 26 years. Born and raised in Miami, she is a Florida native and earned her Bachelor of Science in Psychology from the University of C....
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Information is deemed to be reliable, but is not guaranteed. © 2026 MLS. Last Updated September 22, 2026 5:13 PM UTC The information on this sheet has been made available by the MLS and may not be the listing of the provider. Listing data provided by the Daytona Beach Area Association of REALTORS® Internet Data Exchange (IDX) program. Data is believed to be accurate but not warranted.
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