Buying a condo in Fort Lauderdale, Florida, can be exciting, especially around Fort Lauderdale Beach, Las Olas Boulevard, Downtown Fort Lauderdale, and Broward County waterfront communities.
But South Florida condos face very specific risks: special assessments, insurance spikes, milestone inspections, and changes to the Structural Integrity Reserve Study (SIRS) reserve funding.
This guide covers the top 10 condo-buying mistakes Fort Lauderdale buyers make, with clear steps to avoid each.
Top 10 Condo Buying Mistakes
1) Skipping HOA Documents
Many buyers tour a unit, love the view, and make an offer before reading the association documents. In Fort Lauderdale, that can backfire quickly because condo costs and issues usually show up in the paperwork first, not during a 15-minute showing.
Avoid it like this:
- Request the HOA budget, financial statements, reserve information, and meeting minutes early.
- If the seller/association is slow or vague, treat that as a signal to slow down.
- Read at least 12–24 months of meeting minutes to see what keeps breaking and what owners complain about.
2) Ignoring Special Assessments
In Fort Lauderdale condos, the scariest surprise is a special assessment. It’s a separate bill that owners pay when the association needs money for major repairs, such as concrete restoration, roof work, elevator work, plumbing, pool decks, or structural projects.
Avoid it like this:
Ask these questions (and get answers in writing if possible):
- Were there any special assessments in the last 5 years?
- Are any special assessments planned or being discussed for the next 12–24 months?
- What major repairs are unfunded right now?
Then check the meeting minutes to confirm the story matches.
3) Misreading Reserve Funds
A condo can look beautiful and still be financially weak. The reserve fund is what pays for major repairs without constant special assessments. In coastal Florida, reserve funding matters even more due to exposure, corrosion, and higher maintenance needs.
Avoid it like this:
- Ask: “Are reserves fully funded or partially funded?”
- Look for a pattern of “delay, patch, delay” in minutes.
- Compare the building’s reserves to its age and systems (elevators, garage, roof, exterior).
If the building is older and reserves are thin, expect higher HOA fees or assessments later.
4) Missing Milestone Inspection Issues
The Florida condo law brought serious attention to building safety. Many condos (typically three stories or higher) must complete milestone inspections on a schedule tied to building age and location. In Broward County, this is a major factor for older buildings.
Avoid it like this:
- Ask the association for proof that the milestone inspection has been completed.
- Ask if any repairs were required and whether they’re completed, funded, or still pending.
- If repairs are pending, request the plan: scope, contractor, timeline, and funding source.
If the building can’t clearly answer, that’s a risk you don’t want to take.
5) Not Understanding SIRS
SIRS stands for Structural Integrity Reserve Study. It’s tied to how associations plan and fund reserve expenses for key building components. Buyers in Fort Lauderdale should assume SIRS-related reserve decisions can impact monthly dues.
Avoid it like this:
- Request the SIRS summary (or reserve study summary).
- Ask: “Did the association waive or reduce reserves in the past, and what’s the plan now?”
- Look for upcoming fee increases tied to reserve funding.
You don’t need to be an accountant. You need a clear understanding of whether the building is being planned responsibly or kicked down the road.
6) Falling For “Low HOA Fees.”
In Fort Lauderdale, a low HOA fee can mean one of two things:
- efficient building management, or
- underfunded reserves and delayed maintenance.
Too many buyers assume low fees equal a good deal. Later, they get hit with a big assessment or a sharp increase in dues.
Avoid it like this:
- Compare HOA fees with those of similar condos in Fort Lauderdale Beach or your target area.
- Confirm what fees include: building insurance, water, sewer, cable, amenities, security, and reserves.
- Ask: “Have fees increased in the last 2–3 years? Any planned increases?”
Low fees are only a win if the building is still properly maintained and funded.
7) Underestimating Insurance Costs
South Florida condo insurance can change quickly. Even if you personally buy an HO-6 policy, the building’s master policy affects your HOA fees and can drive up your HOA fees.
Avoid it like this:
Ask for:
- Master insurance details (summary is fine)
- Deductible levels (especially hurricane/wind deductibles)
- Any premium increases in the last 1–2 renewal cycles
- Claims history, if available
If insurance costs have jumped, expect that to show up in HOA fees.
8) Forgetting Rental, Airbnb, And Leasing Rules
Many buyers want flexibility: rent it later, do seasonal stays, or keep the option open. But condo rules may restrict:
- minimum lease length
- rental caps
- tenant approvals
- short-term rentals (Airbnb/VRBO)
Avoid it like this:
- Read the leasing rules before buying, not after closing.
- Ask: Is there a rental cap? Is there a waiting list?
- Confirm minimum lease term and application requirements.
If your plan includes renting, don’t buy into a building that conflicts with it.
9) Assuming Parking And Storage Are Included
Fort Lauderdale condos can have confusing parking setups:
- deeded parking
- assigned parking
- leased parking
- valet-only parking
- limited guest parking
Storage lockers can also be separate, not included, or not guaranteed.
Avoid it like this:
- Verify in writing exactly what you get: parking space number, type, guest access, storage locker.
- Ask: Is parking deeded to the unit, or does the HOA assign it?
- Confirm guest parking rules (many buildings are strict).
Parking surprises are one of the most common sources of regret.
10) Not Choosing The Right Building Type For Your Lifestyle
Some buyers want low-maintenance luxury. Others want flexibility and lower monthly costs. The mistake is buying a building that doesn’t match how you’ll actually live.
If you want a smoother experience, you’ll usually do better in buildings known for premium standards, strong upkeep, and clear management.
Avoid it like this:
- Decide your must-haves: privacy, security, amenities, quiet, rental flexibility, parking, and budget stability.
- Ask direct questions about management response times, maintenance schedules, and long-term plans.
- Tour the property at different times (weekday, weekend, evening) to get a real feel for the vibe.
Quick Fort Lauderdale Condo Buyer Checklist
Before you commit, confirm:
- HOA budget + reserves + SIRS/reserve study summary
- milestone inspection status and repairs
- special assessment history and plans
- insurance trend and deductibles
- leasing rules (rentals/Airbnb)
- parking/storage verified in writing
- meeting minutes (12–24 months)
Luxury Condo Buyers
If you’re looking for luxury condos in Fort Lauderdale and want a building that feels more turnkey, consider Tiffany House Fort Lauderdale.
If you share your:
- budget range
- number of bedrooms
- preferred view (oceanfront vs Intracoastal/city)
We can help you narrow down the best-fit Tiffany House options and a due diligence checklist to use before making an offer.