Trying to choose between an HOA community and a condo building in Bonita Springs? You’re not alone. With coastal high-rises, golf communities, and gated neighborhoods across Lee County, it can be hard to know which option really fits your budget and lifestyle. In this guide, you’ll learn the core differences, what Florida law requires, which costs matter most near the Gulf, and how to review the right documents before you buy. Let’s dive in.
HOA vs condo: what you own
Condominiums give you ownership of your unit’s interior space, as defined by the declaration, plus an undivided interest in the common elements. The association typically maintains and insures the building exterior, roof, elevators, and shared areas. Your monthly fees reflect that broader coverage.
In an HOA, you usually own the home and the lot. The HOA enforces community rules and maintains common areas like roads, parks, and a community pool. Exterior maintenance for single-family homes often falls on you, though townhome-style HOAs may handle some exterior items. Always confirm the exact responsibilities in the governing documents.
Maintenance and insurance at a glance
In condos, the association’s master policy generally insures the building’s structure and common elements. You still carry an HO-6 policy for interior finishes, personal property, loss of use, and often loss assessment coverage. Make sure you know whether the master policy is “walls-in” or “from the studs out,” and whether flood is included or separate.
In HOAs, you typically insure your entire home and structures on your lot. The HOA’s policy covers common areas. In Bonita Springs’ coastal environment, windstorm deductibles and flood exposure can be significant. Expect premiums and association assessments to reflect hurricane and flood risk.
Florida rules that matter
Florida’s condominium law is Chapter 718 of the Florida Statutes. HOA governance is covered in Chapter 720. These chapters outline how associations adopt budgets, fund reserves, notice and hold meetings, record and collect assessments, and provide access to records.
As a buyer, you should expect access to key records, including budgets, financials, minutes, and governing documents. Both condos and HOAs can levy assessments, record liens for unpaid dues, and pursue foreclosure following statutory procedures. Knowing your rights to inspect records and the association’s collection powers helps you judge long-term risk before you close.
Bonita Springs costs: what to expect
Condo fees are often higher because they cover building systems, exterior insurance, elevators, and shared services. HOAs for single-family homes may have lower monthly dues but can shift more maintenance to you.
Reserves are central to financial health. Adequate reserves lower the chance of large special assessments. In Bonita Springs and other coastal areas, special assessments commonly arise after roof replacements, balcony or stucco remediation, elevator replacements, seawall or shoreline work, and hurricane-related repairs. Review the reserve schedule and any planned projects closely.
Insurance is a major driver of cost near the Gulf. Confirm the association’s master policy limits, windstorm deductibles, and what is covered versus excluded. Then get quotes for your unit-owner or homeowner policy so you can estimate total annual costs and possible assessment exposure.
Financing and condo project approvals
If you plan to use FHA or VA financing for a condo, check project approval early. Many coastal condo buildings are not on the approved lists, especially older or self-managed properties. Conventional lenders also review a project’s reserves, the percentage of rental units, and any pending litigation.
When reserves are thin or litigation is active, some lenders apply stricter underwriting or decline the project. Get ahead of this by asking for association documents as soon as you go under contract and by looping your lender into the review.
Due diligence checklist for buyers
Use this list to request and review documents early. A thorough review helps you avoid surprises and negotiate from a position of strength.
Governing and financial documents
- Declaration of Condominium or Declaration of Covenants/CC&Rs
- Articles of Incorporation, Bylaws, and current Rules and Regulations
- Budgets and year-end financial statements, including the reserve schedule
- Recent board and membership meeting minutes for the past 12–24 months
- Any reserve study or capital improvement plan
- Certificate of Insurance detailing master policy limits and deductibles
- Summary of pending litigation and related invoices
- Estoppel certificate showing amounts due, transfer fees, and pending assessments
- Management contract and any management transition documents
Physical condition and permits
- Recent inspection reports or engineering studies
- Records for roof, structural, balcony, or elevator maintenance and repairs
- Pest and termite treatment records
- Permits for major work, including hurricane-related repairs and upgrades
- Evidence of hurricane hardening, such as shutters, impact glass, or roof anchoring approvals
Occupancy and use restrictions
- Rental and short-term rental rules and any owner-occupancy requirements
- Age-restriction documentation if applicable
- Parking, pet, renovation, and noise rules
Financial and insurance red flags
- Low or negative reserves relative to common element replacement costs
- Large or repeated special assessments without a clear plan or financing
- High delinquency rate in assessments or frequent collection actions
- Significant litigation with contractors, insurers, or owners
- Large windstorm or hurricane deductibles that could shift costs to owners
- Coverage gaps between the master policy and unit-owner policies
Transaction and timing items
- Lender project requirements for FHA, VA, and conventional loans
- Estoppel processing timeline and fees
- Any pending rule changes or capital projects that could affect closing or costs
Local records and where to look
- Lee County Clerk of Court and Property Appraiser records are the primary sources for recorded declarations, CC&Rs, liens, and plats.
- The association or its management company must provide access to financials, minutes, budgets, and insurance certificates under Florida law.
- City of Bonita Springs and Lee County planning and building departments can help you verify permits, code issues, and hurricane repair history.
How to choose: HOA vs condo in Bonita Springs
Pick a condo if you want building-level maintenance covered, predictable exterior care, and amenities under one monthly fee. Be prepared for higher dues that reflect elevators, exterior insurance, and reserves. In older coastal buildings, focus on structural history, balconies, and upcoming capital projects.
Choose an HOA if you prefer more control over your home and often lower monthly dues. Budget for your own exterior maintenance and insurance, including wind and flood if applicable. In townhome-style HOAs, verify what the association maintains on the exterior so you are insured correctly.
If you plan to rent, compare rental policies and percentages in each community. Lenders and future buyers will scrutinize those metrics, which can affect financing, resale, and your investment returns.
Work with a local advisor you trust
Buying on the coast comes with unique considerations. Strong reserves, clear records, and well-managed associations make a real difference over time. If you want guidance that blends luxury market insight with hands-on due diligence, the MJ Team is here to help. Explore communities, condominums, and waterfront options, and get strategic support from contract to closing with the MJ Team.
FAQs
In Florida condos, who maintains the roof and exterior?
- The condominium association usually maintains and insures the roof and exterior, while you insure interior finishes and personal property.
Why are condo fees often higher than HOA dues?
- Condo fees cover building systems, exterior insurance, elevators, and shared services that single-family HOAs typically do not.
Can associations in Florida foreclose for unpaid assessments?
- Yes. Under Chapters 718 and 720, associations can record liens and may pursue foreclosure after following statutory procedures.
How do I confirm if a condo works with FHA or VA loans?
- Check project approval early and ask your lender about additional review requirements for reserves, rentals, and litigation.
What insurance should a condo unit owner carry?
- An HO-6 policy for interior improvements, personal property, loss of use, and loss assessment coverage, aligned with the master policy’s scope.
What triggers special assessments in Bonita Springs communities?
- Common triggers include hurricane repairs, roof or stucco remediation, balcony and elevator replacements, and seawall or shoreline projects.
