# Rising Condo Dues Are Reshaping Buying Power in South Florida By Loodmy Jacques (@loodmyjacques) · Published 2026-10-28 Canonical: https://voce.com/@loodmyjacques/south-rising-condo-dues-reshaping-buying-power-e5vbsq --- In South Florida's condo market, the number that determines what a buyer can afford is increasingly the monthly association fee rather than the list price. As older buildings absorb the cost of state-mandated reserve funding, higher dues and special assessments are narrowing the pool of financed buyers and pushing the market toward cash. #### Key Takeaways - Lenders qualify buyers on monthly payments, so condo dues shrink the mortgage you can get far more than the list price does. - Florida's post-Surfside reserve mandate forces buildings three stories or taller to fully fund structural reserves, ending the era of low, deferred dues. - Roughly 21 of about 2,400 South Florida condo buildings are FHA-approved, and more than half of Palm Beach County condo purchases are all-cash. - Buildings that have finished restoration and secured lender approval offer the most leverage for buyers. ## Payments Over Price Lenders qualify borrowers on monthly obligations, not purchase price, so dues flow directly into approval math. Loodmy Jacques, a West Palm Beach real estate agent who leads The Jacques Team at Keller Williams Reserve, offers an example: at interest rates near 7 percent, an extra $500 a month in dues can cut what a buyer qualifies for by roughly $75,000. A mortgage payment estimate that leaves out dues can overstate buying power considerably. **Case Study** At interest rates near 7 percent, an extra $500 a month in association dues can cut what a buyer qualifies for by roughly $75,000. ![Modern South Florida condominium buildings with balconies and palm trees under a clear sky](https://images.unsplash.com/photo-1638945657536-60259aae3c34?crop=entropy&cs=tinysrgb&fit=crop&fm=jpg&ixid=M3w5Mzk0NDN8MHwxfHNlYXJjaHw1fHxleHRlcmlvciUyMG9mJTIwYSUyMHdlbGwtbWFpbnRhaW5lZCUyMG1pZC1yaXNlJTIwcmVzaWRlbnRpYWwlMjBjb25kb21pbml1bSUyMGJ1aWxkaW5nJTIwaW4lMjBTb3V0aCUyMEZsb3JpZGElMjBzdW5ueSUyMGRheXxlbnwwfDB8fHwxNzkzMjAyMTIxfDA&ixlib=rb-4.1.0&q=80&w=1200&h=630) Special assessments add a second layer. Jacques describes them as a second down payment buyers did not plan for, and says some older buildings are carrying assessments in the hundreds of thousands of dollars per unit, alongside dues increases of several hundred dollars a month. ## The Reserve Mandate The shift stems from reforms enacted after the 2021 Surfside collapse, when Champlain Towers South partially collapsed and killed 98 people. Buildings three stories or taller must now complete a **Structural Integrity Reserve Study** (a SIRS, an engineer's assessment of a building's eight critical structural components) and fully fund the reserves it calls for — ending years in which associations could keep dues low by deferring that saving ([Florida Condo Special Assessments](https://www.propertyexemption.com/property-tax/condo-special-assessments-florida)). The effect is direct on monthly costs. As of January 1, 2026, associations can no longer waive or reduce funding for the structural components in their SIRS, so the full bill shows up in the budget, according to the [Florida SIRS Deadline 2026 guide](https://mosaichoa.com/blog/florida-condo-sirs-reserve-funding-2026). Some communities report reserve-driven assessments of $134,000 to $400,000 per unit, and many boards are passing along monthly dues increases of $200 to $1,000 or more, per [Solume's reserve-law guide](https://www.community.solume.com/blog/new-florida-law-on-condo-reserves). Rising master insurance premiums compound the pressure. ## A Cash-Heavy Market Financing access has narrowed with it. Jacques estimates that about 21 of roughly 2,400 South Florida condo buildings are approved for FHA loans. In Palm Beach County, he says, more than half of condo purchases are now made in cash. The result is a market where condos take longer to sell, about 69 days to go under contract compared with roughly 40 for single-family homes, and close further below list price. **Key Point** Roughly 21 of about 2,400 South Florida condo buildings carry FHA approval, and in Palm Beach County more than half of condo purchases close in cash — evidence of how much the financing pool has narrowed. ![South Florida mid-rise condominium buildings with palm trees under a clear sky](https://images.unsplash.com/photo-1739138699843-e46f1d4016c2?crop=entropy&cs=tinysrgb&fit=crop&fm=jpg&ixid=M3w5Mzk0NDN8MHwxfHNlYXJjaHw0fHxleHRlcmlvciUyMG9mJTIwYSUyMHdlbGwtbWFpbnRhaW5lZCUyMG1pZC1yaXNlJTIwcmVzaWRlbnRpYWwlMjBjb25kb21pbml1bSUyMGJ1aWxkaW5nJTIwaW4lMjBTb3V0aCUyMEZsb3JpZGElMjBzdW5ueSUyMGRheXxlbnwwfDB8fHwxNzkzMjAyMTIxfDA&ixlib=rb-4.1.0&q=80&w=1200&h=630) For cash buyers, that imbalance creates negotiating room. Jacques points to buildings that have already completed restoration, funded reserves, and secured lender approval as the ones where that leverage is most useful, because the major costs are already behind them. ?Frequently Asked Questions1 question 1 ## The Ownership Window Transaction costs shape the calculation as well. Buying and selling runs roughly **8 to 10 percent round trip**, which argues for a holding period of five to seven years. Over that span, the timing of a building's structural spending matters. If major work falls inside the ownership window, the owner pays for it. If it has already been completed, the buyer may be purchasing at a discount on a problem that has been solved. The same reserve rules that raised costs are also making building finances more visible, and buyers are increasingly weighing that record alongside the unit itself. "Condos are a building-by-building decision," Jacques says. **Info** Loodmy Jacques is a real estate agent and team leader of The Jacques Team at Keller Williams Reserve in West Palm Beach, Florida. He has 17 years of experience in South Florida residential real estate, serving Palm Beach County and surrounding areas.