Want to buy an older condo? You may face up to $100K in extra costs

ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.

Realtor Leslie Pires of Bustamante Real Estate in Orlando remembers when condos were one of the less expensive ways to own a home.

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“There was a time – even a few years ago – when someone could say, ‘I want a $1,500 monthly mortgage,’ and you’d show them a condo,” Pires said. “Now, I’d say, ‘Let’s look for a small home.’”

Florida’s condo market, long a staple of beach life and a source of independent-living housing for the elderly, now is facing the pain of a new regimen of inspections and regulations, costing owners up to hundreds of thousands of dollars in assessments to bring buildings up to code, making condo sales beyond difficult.

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Orange County leaders to review plan to increase sales tax for transportation projects Commissioners in Orange County are set to meet Tuesday to discuss a proposed transportation sales tax. (WFTV)

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