Two condos. Same asking price. Same down payment. Same state. Completely different deal.

This is one of the biggest mistakes buyers make when comparing South Florida real estate: treating purchase price as the primary measure of affordability.

START WITH THE BUILDING

For a condo, you’re not simply buying the unit. You’re buying into the economics of the building. A hypothetical Miami property might have an HOA of $1,150 per month while a Fort Lauderdale alternative could be $750. That’s a $400 monthly difference—or $4,800 annually—before considering insurance, taxes, assessments or maintenance.

THEN LOOK AT RENT

Suppose the Miami unit could reasonably rent for $3,600 per month while the Fort Lauderdale unit could command $3,300. Miami generates an additional $300 in gross monthly rent. But if its HOA costs $400 more, that rental premium disappears before other expenses. Rent only matters relative to cost.

FINANCING CHANGES IT AGAIN

Freddie Mac reported an average 30-year fixed mortgage rate of 6.71% on September 3, 2026. Actual borrower rates vary based on loan structure and borrower characteristics.

THE DEALHOUSE VIEW

If two properties both cost $500,000, we don’t consider them equal. We ask what each costs to own, what each can reasonably generate, what risks exist inside the building and how much negotiating leverage the buyer has. That’s the deal—not the listing price.

DealHouse content is provided for informational and analytical purposes only and does not constitute individualized investment, financial, tax, legal, mortgage or brokerage advice. Property information, market conditions and estimates may change.