Buying a condominium means buying your unit and a financial relationship with the association. A beautiful balcony or convenient location cannot compensate for unknown building repairs, inadequate reserves or a coming special assessment. In 2026, Florida's structural inspection and reserve requirements make documentary due diligence essential.
Distinguish the two big documents
A milestone inspection is an engineering or architectural review of a qualifying building’s structural condition under Florida law. A structural integrity reserve study, or SIRS, estimates remaining useful life and financial needs for specified common components. The documents answer different questions: one addresses observed building conditions, the other the funding plan.
Not every building has the same deadline, age, location or compliance status. Florida DBPR and the current statutes explain qualification and timing, including rules affecting buildings three or more habitable stories. Ask for the association’s actual completed reports and any required follow-up, not only a verbal assurance that inspections were addressed.
Read the entire financial package
Ask for the current approved budget, reserve balances, reserve study, recent financial statements, insurance summaries, board minutes, litigation disclosures and pending special assessments. Look at recurring dues in context: a low payment may be attractive, but whether it adequately funds obligations matters more.
Calculate the monthly dues plus anticipated special assessments and your personal unit insurance. Ask what capital projects are upcoming and whether they are budgeted, financed or merely discussed. A building with transparent funded work can be more predictable than one postponing decisions.
Ask what the engineer actually found
If a milestone report identifies issues, request explanations, bids, remediation plans, engineering correspondence and completion evidence. Words like inspection completed do not prove the recommended repairs are completed or fully funded.
For an older coastal building, consider corrosion exposure, balconies, waterproofing, concrete, roof and mechanical infrastructure. Consult an appropriate engineer or inspector to interpret technical findings; a real estate agent cannot replace structural expertise.
Check mortgage and insurance eligibility
A lender may evaluate condominium project eligibility, association litigation, insurance and financial characteristics separately from your personal ability to qualify. Condo underwriting surprises can arise even after a borrower receives preapproval.
Before waiving contractual protections, ask the lender about the specific condominium project. Request association insurance details and compare them with the unit-owner HO-6 and flood coverages you may need. A cheap unit is not a bargain if acceptable financing or insurance cannot be obtained.
Review governing documents and lifestyle fit
Rules can govern leasing, pets, renovations, parking, move-in fees and short-term use. Ask for the declaration, bylaws, current rules, application requirements and association approval steps. Read the documents yourself instead of relying on listing summary boxes.
If investment use is important, verify the actual rental limits and approval requirements in writing. A property’s perceived vacation-rental value means little if the documents restrict your intended use.
A prudent condo offer checklist
Before finalizing the purchase, obtain the association package, review inspection and reserve material, price all dues and assessments, confirm project financing, understand rental restrictions and check personal insurance options.
Your contract should allow enough time for meaningful due diligence under the actual documents signed. Complex repair questions warrant a licensed engineer, condominium attorney or insurance professional. Evaluate the building and the unit as two connected investments.
Frequently asked questions
Does a completed milestone inspection mean there are no structural issues?
No. Read the actual findings, recommendations and repair-completion documentation.
Is the SIRS the same as an engineering safety inspection?
No. A reserve study and a milestone inspection have different statutory purposes, though some inspection work can overlap under specific conditions.
Can condo dues or special assessments increase after I buy?
Yes. Budgets, insurance, reserve funding and capital projects can change; review the documents and your affordability buffer.
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Need advice about a particular property? Connect with Anchor House Realty.