Massive Expenses coming for condo owners in Florida. There are several reasons for this Florida housing market curveball. For one, the Surfside Bill, which was passed in response to the Champlain Towers South collapse in 2021, will require a reserve budget for condo associations which will put pressure, especially on older condos to gather enough money to meet the reserve required for future expenses. This will hit many condo owners hard and will also affect the general Florida real estate market. Also, the rising home insurance situation will likely hit many condo owners in two different ways which we will discuss in this video. If you are planning to purchase or sell a Florida condo, this video is a must-watch. This video is also educational for those people that are following the Florida real estate market as the condo crisis will have an effect on the Florida housing market.
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00:00 - Condo vs Townhouse
01:54 - Condo/Townhouse Sales Data
03:11 - Surfside Bill
05:27 - Surfside Bill Condo Expenses
06:35 - What You Must Ask & Review
07:16 - Home Insurance Double Wammy
10:20 - Important Note
