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Old 07-09-2009, 07:59 PM
 
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I'm watching and hoping to buy a beach front condo but will probably only be able to afford one of the older ones. Any advice on what kind of issues to check for in these buildings?
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Old 07-10-2009, 08:10 AM
 
Location: America
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Originally Posted by Abnbjb View Post
I'm watching and hoping to buy a beach front condo but will probably only be able to afford one of the older ones. Any advice on what kind of issues to check for in these buildings?
Let me say, I am a big fan of condo living. Mainly because I hate yard work. With that said, I have since changed my mind about ever owning a condo. HOA fees are absolutely ridiculous. If things get bad for the people in your building and people stop paying HOA fees and things are not being paid you could very well be evicted from the building. Take for example they can't pay water, seweage or trash pick up. That building could be condemned. That has happened in S. Florida recently. Also they (the govt.) needs to regulate these associations and their laws and what is required of them far more.

I think they will regulate them in the long run which woudl in turn HOPEFULLY fix some of my other concerns. Once that happens then I say jump in! But I would wait, prices are still falling and they will continue to do so. No rush man, just be patient. Rent for now near the beach, chill, enjoy the sun and pounce when the time is right.
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