Popular Oceanfront Condo Buildings

What to Research Before Buying

Buying a condo in Florida requires more due diligence than ever. Here's what I investigate for every condo buyer:

• Reserve Fund Balance – Is the association adequately funded? Florida now requires reserve studies.
• Milestone Inspection Results – Buildings 30+ years old require structural inspections. Review findings carefully.
• Special Assessments – Any pending or recent assessments? These can be tens of thousands of dollars.
• HOA Financial Statements – Is the association financially healthy? Delinquency rates?
• Insurance Costs – Condo insurance has skyrocketed. Get quotes before making an offer.
• Rental Restrictions – If you plan to rent, verify minimum lease terms and frequency limits.
• Meeting Minutes – Recent board meeting minutes reveal ongoing issues and planned expenses.

Insurance Considerations

Oceanfront condos in NSB face challenging insurance costs:

• HOA Master Policy – Covers the building structure (cost passed to you via HOA fees)
• HO-6 Policy – Your unit's interior, personal property, liability ($1,000 - $3,000/year)
• Flood Insurance – Usually required; $2,000 - $5,000+/year for oceanfront units

Budget $3,000 - $8,000+ annually for insurance on oceanfront condos. I help buyers get accurate quotes before making offers.

Questions to Ask

Before buying any NSB condo, get answers to:

• What are the current reserves and what's the required amount?
• When was the last milestone inspection and what were the findings?
• Are there any pending or planned special assessments?
• What are the rental restrictions (if any)?
• What major repairs have been done recently?
• What's the delinquency rate on HOA payments?
• Has the building had any insurance claims denied?