Trying to choose between a Boca Raton condo and a single-family home in an HOA community? You are not alone. Both paths offer great lifestyles, but the day-to-day costs, responsibilities, and rules feel very different once you move in. In this guide, you will learn how ownership, fees, insurance, and approvals work in Florida, plus a simple checklist to make a confident decision for life in Boca Raton. Let’s dive in.
Ownership basics in Florida
Condo and HOA communities look similar from the street, but the legal setup is not the same.
- In a typical HOA neighborhood, you own the land and the home. The association maintains shared areas and enforces community rules. You handle most exterior and structural upkeep.
- In a condominium, you own the interior of your unit and share ownership of the building structure and common elements. The condo association maintains and insures the exterior and common systems.
Florida law separates these two models. Condominiums are governed by Florida Statutes Chapter 718. Homeowners’ associations are covered under Chapter 720. After the Surfside tragedy, the state increased oversight of condo reserves, inspections, and disclosures. For current guidance, check the Florida DBPR Division of Condominiums.
The practical takeaway: condo associations usually take on more building maintenance and insurance. HOAs usually leave structural upkeep to you. That difference drives monthly fees, risk, and your to-do list.
Costs, fees, reserves, and special assessments
Monthly or quarterly dues are only one part of the story. What those dues cover matters more.
- Condominiums: Fees often cover exterior maintenance, roofing, elevators, common utilities, grounds, security, on-site staff, trash, and the master building insurance. Tall or waterfront buildings usually have higher fees because they maintain complex systems and amenities.
- HOAs for single-family homes: Dues typically cover common areas, gates or roving security, community amenities, and sometimes landscape services. You are normally responsible for your roof, exterior, and big-ticket repairs.
Reserves protect owners from surprise costs. Both condos and HOAs should maintain reserves for long-term items like roofs, paving, and elevators. Low reserves or frequent special assessments are red flags. Ask for the current budget, reserve study, and year-to-date financials. Review the last 12 to 24 months of meeting minutes for any discussion of upcoming projects or assessments.
Bottom line: a condo can feel like a higher monthly payment but with fewer unexpected structural bills. A single-family HOA can mean a lower monthly fee but more exposure to big one-time expenses that you control.
Insurance in Boca Raton: what you need to know
Insurance is where the condo vs HOA difference really shows up.
- Condo associations carry a master policy for the building and common elements. You will still need an HO-6 condo policy for interior finishes, personal property, liability, and loss assessment coverage. Ask whether the association policy is “all-in” or “bare walls.”
- HOA communities insure shared spaces, not your house. You will need a homeowners policy that covers the dwelling, personal property, liability, and loss of use.
In coastal Palm Beach County, hurricane and wind deductibles can be significant on both master and individual policies. Those deductibles can be shared with unit owners in a condo, so loss assessment coverage matters. Flood insurance is separate and may be required by your lender if the property sits in a FEMA flood zone. You can check zones using the FEMA Flood Map Service Center.
Florida’s insurance market is volatile. It is smart to get quotes early and compare total ownership cost: association dues plus your personal policy and any flood insurance. The Florida Office of Insurance Regulation and a local independent agent can help you understand current market conditions.
Rules, approvals, and financing
Both HOAs and condo associations have elected boards, rules, and budgets. How those rules affect your lifestyle and financing is key.
- Use rules: HOAs often focus on exterior standards like paint colors and landscaping. Condos may regulate any interior work that touches common elements, such as flooring or A/C changes.
- Rentals and occupancy: Many condos limit rentals or set minimum lease terms. Some communities are age-restricted. HOAs may also limit short-term rentals. These rules can affect resale demand and your plans for personal use or investment.
- Lender scrutiny: Condominiums face more project-level review by lenders and agencies. If a condo’s finances are weak or litigation is pending, some loans may not be available. To see if a condo is eligible for certain programs, confirm status on the HUD condominium approval list. Single-family homes in HOAs usually follow standard detached-home underwriting.
Always ask about any pending or recent litigation. Lawsuits can signal deferred maintenance and may lead to special assessments.
Quick buyer checklist for Boca Raton
Use this to speed up your due diligence and avoid surprises.
Documents to request
- Declaration, Bylaws, and Rules
- Current budget, year-to-date financials, and reserve study
- Insurance declarations and recent claims history
- Meeting minutes for the last 12 to 24 months
- Rental policy, management contract, and any litigation disclosure
- Estoppel letter showing assessment status
First things to skim
- Reserve balances versus planned capital projects
- History of special assessments and any planned assessments
- Hurricane and wind deductibles on the master policy
- Rental and occupancy rules
- Any major repair contracts or structural inspections noted
Questions to ask
- How much is in operating cash and reserves, and when was the last reserve study?
- Any special assessments in the last 3 to 5 years, or coming soon?
- What major capital projects are planned in the next 3 to 5 years and how will they be funded?
- What is the hurricane deductible and how is it allocated to owners?
- Is the condo project FHA or VA approved, and what percent of units are owner-occupied?
- Any current or threatened litigation and expected exposure?
Red flags
- Very low reserves for the property’s age and scope
- Frequent or large special assessments
- Significant litigation or unresolved structural issues
- High rental percentage that may affect financing
- Management turnover or limited financial transparency
Which lifestyle fits you best?
- Choose a condo if you want low-maintenance living, on-site staff, and amenities in a lock-and-leave setup. Expect higher monthly fees and pay close attention to reserves, structural inspections, and master insurance details.
- Choose a single-family HOA if you want more control over your property, a yard, and potentially lower monthly dues. Plan for roof, exterior, and major system costs and consider stronger storm preparation.
There is no universal right answer. It comes down to your tolerance for variable costs, your desire for amenities, and the type of building or neighborhood you prefer.
Boca Raton factors and local resources
Boca Raton has a broad mix of high-rise coastal condos, mid-rise buildings, garden-style communities, and planned subdivisions with HOAs. Coastal exposure, hurricane risk, and flood zones are real considerations here. Before you make an offer, verify the property’s flood zone through the FEMA Flood Map Service Center and review association insurance details, especially hurricane deductibles.
For a deeper look at a specific address, use the Palm Beach County Property Appraiser for parcel information and assessed values. If you are comparing reserves or board duties, the Community Associations Institute offers helpful educational context on how associations should manage long-term costs. For condo law updates and post-Surfside inspection guidance, check the Florida DBPR Division of Condominiums. If financing a condo, confirm lending options early and check eligibility with the HUD condominium approval list.
How to decide with confidence
Your best move is to price the full picture: monthly dues, personal insurance, possible flood insurance, likely long-term maintenance, and financing. Then weigh that against your lifestyle goals and timeline. If you prefer predictability and amenity-rich living, a well-managed condo can be a great fit. If you want flexibility and control, a single-family home in an HOA may feel better.
If you want a local guide for this decision, our team can help you compare specific communities, obtain association documents, and connect you with reputable lenders, insurance advisors, and attorneys.
Ready to explore Boca communities or get a clear cost comparison for your short list? Reach out to Bergman Realty Group to talk through your options or to Get Your Free Home Valuation.
FAQs
What is the main difference between a condo and an HOA in Florida?
- In a condo, the association maintains and insures the building exterior and common systems, while in an HOA you typically maintain your own home and the association handles common areas.
How do condo and HOA fees differ in Boca Raton?
- Condo fees usually cover building systems, exterior, amenities, and master insurance. HOA fees focus on common areas and amenities, with owners paying for their own roof and exterior.
What insurance do I need for a Boca Raton condo or HOA home?
- Condo owners usually need an HO-6 policy for interior finishes, personal property, liability, and loss assessment. HOA homeowners need a full homeowners policy and may need separate flood insurance based on location.
How do rental rules affect resale and financing in Boca Raton communities?
- Rental caps or minimum lease terms can narrow your buyer pool and impact loan options, especially in condos where lenders review project-level rules and finances.
What should I review before buying into a Boca Raton condo?
- Request the budget, reserve study, insurance declarations, meeting minutes, litigation disclosures, and confirm any inspection or repair schedules in line with state condo regulations.
Where can I verify flood risk for a Boca property?
- Check the FEMA Flood Map Service Center to see the property’s flood zone and discuss lender requirements for flood insurance.
