Quote:
Originally Posted by southern sicilian
i was thinking this same thing
i've been seeing a lot of them down on the coast people are trying to get rid of
would it be worth the buy even though it's a hurricane zone?
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I would not be all that concerned about hurricane zones if the units are new construction (last few years). The code is pretty strong.
Buying units in a project that has a lot of units in distress can be bad for you future. If there are too many units in default or similar the remaining owners can carry the cost. Lenders who take back a property in FL are not required to pay the back HOA in full, etc. So, check the details. Check if there is deferred maintenance, if there is a sinking fund or other things. Understand that your will not be in complete control the way you are with a SFR.
Condos can be fine but they are not the same as SFRs.