Condo prices are declining due to increased inventory, but rising community-association fees pose hidden costs for buyers. Over half of associations plan to raise regular fees to cover higher insurance and meet new reserve funding rules requiring 15% of budgets by 2027. Special assessments, sometimes exceeding $70,000 per unit, address aging infrastructure and repairs. Buyers should review reserve studies, financial health scores, and board meeting minutes before purchasing. Florida's stricter regulations post-2021 have improved condo safety and market recovery.
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