Don’t EVER Buy a Condo

The video discusses the current condo crisis in Florida, highlighting the challenges faced by condo owners due to rising insurance costs and special assessments. Many condos, such as those in North Fort Myers and Regency Gardens in Orlando, are experiencing significant financial burdens, with special assessments reaching thousands or even tens of thousands of dollars. This has led to an increase in condos on the market as owners struggle to afford the unexpected expenses. The crisis is exacerbated by new state laws requiring condo associations to be fully funded for potential disasters, further straining owners financially. The video discusses the lack of government assistance and predicts a potential mass exodus of condo owners unable to keep up with the rising costs, urging viewers to be cautious when considering condo purchases.

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Timestamps:
Intro-00:00
Fort Myers, Florida Condo Crisis- 00:31
How can condo owners pay thousands on the spot?- 01:48
Why are condo association fees rising?- 02:31
Why do condo associations have to be fully funded?- 03:50
Orlando, Florida condo crisis- 04:43
How will condo owners pay increased fees?- 06:30
Condo owners forced to sell- 08:30
Retired Florida condo owner priced out- 09:25
Real estate agents can't sell condos- 11:27
Things to keep in mind before you buy a condo- 13:10

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