Buying a Condo in Boca Raton

What $285,174 buys in Boca Raton

The condo index rose 1.3% over the past year, against 6.8% for single-family homes. Houses have been pulling away from condos for a while, and the ratio now sits at roughly 37 cents of condo for every dollar of house.

The bedroom data shows where the money goes. A typical one-bedroom is about $117,837 and a two-bedroom about $294,724. That jump of roughly $177,000 between one and two bedrooms is unusually wide. In practice, many of the cheapest one-bedrooms sit in older, larger complexes with age rules, older systems and monthly fees that eat into the low price. The two-bedroom figure is closer to what most buyers end up paying for a unit they would live in year-round.

Census data says 42.5% of Boca's housing units are in buildings with 10 or more units, and the median home was built in 1983. So the typical condo building here is over 40 years old.

Building age, milestone inspections and the SIRS

A building from the late 1970s or early 1980s has already crossed the 30-year mark that triggers Florida's milestone inspection for condos three or more stories tall. The second round comes every 10 years. Ask for the inspection report itself, read the phase 2 findings if there were any, and ask what repairs are still open.

The Structural Integrity Reserve Study is the second document I want on the table. It covers roof, structure, fireproofing, plumbing, electrical, waterproofing, windows and doors. For budgets adopted on or after December 31, 2024, owners can no longer vote to waive or cut those reserves. Buildings that skipped reserves for years have had to catch up, either with higher monthly fees or with a special assessment.

• Milestone inspection report and any repair plan
• Latest SIRS and how the current budget funds it
• Board minutes from the last 12 to 24 months
• Any approved or proposed special assessment, with amount and due dates

Monthly fees: what they cover and why they climbed

In Boca, the monthly fee often decides the deal more than the price. A $200,000 unit with a high fee can cost more to hold than a $280,000 unit with a lean, well-funded budget. When I compare two units for a buyer, I put price, fee, and any pending assessment on one line and look at the total.

Fees here usually include the master building insurance policy, reserves, water, landscaping, pool and staff. The building insurance line has been the fastest-growing piece in many South Florida associations. Ask for the current policy, its renewal date and the wind deductible. Your own HO-6 policy covers the interior and your belongings, and its price depends partly on the building's age and roof.

Financing a Boca condo

Lenders sort condos into warrantable and non-warrantable. A building can fall into the second group for reasons the unit owner can't fix: one investor holding too many units, too many owners behind on dues, ongoing litigation, a big commercial share, or unfinished structural repairs. Non-warrantable usually means a larger down payment and fewer loan options.

Run this question early. A lender's condo questionnaire comes back from the management company, and I'd rather know about a problem before the inspection period than three days before closing. Cash buyers skip this step, but the same issues still affect resale.

Closing costs follow Palm Beach County custom. The seller usually pays the deed doc stamps at $0.70 per $100. On a financed purchase, the buyer pays the note stamps at $0.35 per $100 and the intangible tax at 0.2% of the loan. On a $228,000 mortgage that's about $798 in note stamps and $456 in intangible tax.

Rules that shape daily life and resale

Boca's condo stock includes a lot of age-restricted complexes, pet limits, weight limits on dogs, and approval interviews before closing. These rules matter to you as an owner, and they matter again when you sell because they set who can buy from you. Read the declaration and rules before you sign, then use the resale cancellation window. Florida gives a resale condo buyer 7 days, excluding weekends and legal holidays, after receiving the association documents to cancel.

If you plan to make Boca your permanent home, file for homestead. It can take up to $51,411 off the assessed value in 2026 and caps future increases. Seasonal owners don't get it, and the tax bill resets to market value after you buy either way. Census counts 9.5% of Boca units as seasonal homes, so a fair number of your neighbors will be part-year owners.

Condo or house in Boca: reading the gap

With a three-bedroom at about $644,995 and the upper third of the market starting near $1,405,526, a condo is how most people enter Boca at a reasonable price. Nearby, Delray Beach averages about $345,071 for all homes and Boynton Beach about $404,476, which is why some condo shoppers widen the search a few miles north. If you send me your budget, the fee ceiling you can live with and whether you need an age-restricted building or want to avoid one, I can build a shortlist of buildings that have their inspection and reserve paperwork in order.