Buy These Condo's in FL Now

Everybody’s freaking out about condos in Florida right now—rising insurance costs, expensive inspections, and special assessments are scaring people off. And that’s exactly why now is the best time to buy. Prices are dropping, and sellers are desperate. (I just made a video about it—watch it here.)

Not every condo is a crumbling high-rise on the beach. There are solid, well-maintained buildings that aren’t dealing with major assessments, and right now, they’re sitting on the market waiting for the right buyer. If you know where to look, you can find a condo for under $90,000—in Florida.

Here’s what’s happening. After the Surfside condo collapse in 2021, Florida put strict inspection laws in place. Any building 30 years or older and three stories or taller now has to pass structural inspections every 10 years. If it’s within 3 miles of the coast, those inspections start at 25 years. And if major repairs are needed? Owners get slapped with huge assessment bills—sometimes in the six figures.

That’s why people are running scared. But here’s what they don’t realize—not all condos have these problems. If you focus on smaller buildings, two-story units, and condos further inland, you can find a solid place without worrying about massive repair costs.

Here are three random examples I pulled off Zillow that are in St Petersburg Florida for under $90K. Now just becuase I talk about these condos in the video, doesnt mean they’re deals. Thats up to you to do your homework and decide for yourself. These are 3 examples out of the thousands that are for sale right now.

• $69,000 – 869 sq. ft., 55+ community, close to the beach, been sitting for 184 days. Seller’s probably ready to deal.

• $80,000 – 917 sq. ft., in great shape, HOA is $720/month, not in a flood zone. A solid winter escape.

• $79,900 – 745 sq. ft., no hurricane damage, six pools, two clubhouses, owner is “motivated” to sell.

That last one has been sitting for 103 days—which means the seller is probably desperate to unload it.

The key to getting a deal on a condo is knowing what to look for and what to avoid. Before you buy, always check:

• The condo’s financials. Are there reserves, or are they broke?

• Special assessments. Any surprise fees coming your way?

• Ongoing lawsuits. Legal problems mean financial problems.

If the building has solid reserves and no major red flags, I would be cautiously optimistic.

Let’s break it down. If you snag a $90K condo with 20% down, that’s an $18,000 down payment. Financing the rest at 6.5% interest on a 30-year loan means your monthly mortgage payment would be about $455. Add in HOA fees, taxes, and insurance, and you’ve got a little crash pad in Florida.

And if you’re paying cash? Even better. Condos under $100K can be tricky to finance, so cash buyers have a huge edge in negotiations.

Here’s the bottom line—while everyone else is scared to buy, this is your chance to get in at a discount. Once insurance costs get sorted out, buyers will flood back in, and prices will shoot up again. Don’t wait for the news to tell you now is a good time to buy. Then its to late. Start looking now!

I suggest you hire a Realtor that sells A LOT of condos in the area you’re looking at. They can help you avoid some of the troubled buildings and point out better deals.

Grant Warrington

Think like an Investor

YouTube Channel

P.S. Want to get the addresses and see the pictures of the 3 condo’s I chose? Watch the video here.