Is the sticker price of a Sailfish Point condo only part of the story? If you are comparing oceanfront communities in Martin County, true ownership cost can feel like a moving target. You want the lifestyle without surprises. In this guide, you will learn every major cost category to budget for, the risk areas to examine closely, and a practical checklist to help you buy with confidence. Let’s dive in.
What ownership really costs
Owning a Sailfish Point condo typically includes these line items:
- Association fees
- Owner insurance: HO-6, flood and loss assessment coverage
- Reserves and potential special assessments
- Utilities and services
- Club and marina costs if applicable
- Property taxes and any special assessments
Each category can vary by building, unit size, and amenities. Verifying details with the association is essential before you make an offer.
Association fees
What fees usually cover
Condo or HOA fees often include the master insurance policy on the building, exterior maintenance, landscaping, security, common-area utilities, staff and management, and reserve funding for long‑life components such as roofs, elevators and paving. Some associations also include water, sewer, trash, basic cable or bulk internet. Review the current budget to see what is included for your specific building.
Why amounts vary
Fees depend on amenity intensity, building age and condition, and how costs are allocated. Communities with golf, a full-service clubhouse, or a marina often have higher fees. Older buildings with deferred maintenance or low reserves can face higher current fees or the risk of future assessments. Fees may be billed monthly or quarterly and are often based on your unit’s percentage interest.
What to verify
MLS figures can be outdated. Ask for the current year budget, reserve schedule and a written statement of what the fee covers. Confirm whether internet, cable, water or sewer are included. Review board meeting minutes for any fee increases planned for the next budget year.
Insurance you need
Master policy vs. your HO‑6
The association’s master policy typically covers the building structure and common areas. You are usually responsible for interior finishes, fixtures, personal property and personal liability through an HO‑6 policy. Clarify whether the master policy is bare walls in or walls in so you understand what interior items you would need to replace after a loss.
Hurricane deductibles and assessments
In coastal Florida, master policies often have percentage-based windstorm deductibles. It is common to see ranges around 1 to 5 percent of the insured value, but you must confirm the exact number for your building. If a storm hits and damage falls within the deductible, the association can levy a loss assessment to unit owners. Carry HO‑6 coverage that includes loss assessment limits and review them with your insurance professional.
Flood insurance requirements
Many condo buildings near the coast sit in FEMA flood zones. Flood coverage can be provided through the association, the National Flood Insurance Program or private carriers, depending on the master policy. Ask for the flood zone designation for the structure, whether an Elevation Certificate exists, and who is responsible for flood coverage on the unit and building.
Reserves and special assessments
Why reserves matter
Healthy reserves fund major projects like roofs, elevators, paving and seawalls. Associations should complete regular reserve studies to estimate timing and cost. A well-funded reserve reduces the chance of one-time special assessments.
What to look for
Request the most recent reserve study, reserve contributions in the budget, and the percent funded for major components. Review 12 to 24 months of board minutes for planned projects and timelines. Ask for the history of regular and special assessments over the past five years.
Red flags to watch
- Low reserve funding relative to upcoming projects
- Recent engineering reports noting structural or envelope issues
- Seawall or shoreline maintenance plans that are unfunded
- Litigation involving construction defects or insurance disputes
Utilities and services
Typical owner-paid items
You will usually pay for electricity through the local provider that serves the address, commonly Florida Power & Light in Martin County. Internet, cable and phone are often owner-paid unless there is a building-wide contract. Keep in mind seasonal usage patterns if this is a second home.
Items sometimes included
Some Sailfish Point buildings include water, sewer, trash, basic cable or bulk internet in the association fee. Verify inclusions in writing because this can meaningfully change your monthly budget.
Marina and boating
Slip ownership or rental is often separate from condo ownership. Expect distinct fees for slip rental or maintenance, fuel, pump-out and dock upkeep. Ask about slip availability, size limits, transfer policies and waitlists.
Club and marina costs
Membership basics
Luxury communities often separate real estate assessments from private club membership. Costs may include an initiation fee, monthly dues, cart fees and food and beverage minimums. Membership can be mandatory or optional depending on the property. Confirm the status for the specific unit you are considering.
Questions to ask
- Is membership mandatory for this unit type or address?
- What are initiation fees and monthly dues, and are there transfer fees at resale?
- Are there any current or upcoming club assessments?
- Is membership equity or non-equity, and is it transferable?
Marina considerations
If you plan to keep a boat, clarify slip assignment, depth and size limits, maintenance allocations and insurance requirements. Marina fees can be a meaningful part of your annual budget.
Property taxes
Second-home tax basics
Annual property taxes are set by local millage rates applied to the assessed value. Second homes do not qualify for Florida’s homestead exemption, so your taxable value will not benefit from homestead protections. Review current tax history and note that reassessment can occur after a sale.
What to verify
Check the Martin County Property Appraiser records for assessed value, millage rates and any non-ad valorem assessments. Ask whether special taxing districts apply to the property and whether prior owner exemptions will fall off at closing.
Your due diligence checklist
Request these documents from the seller, association or property manager:
- Current year budget and prior two years of budgets
- Most recent audited or compiled financial statements
- Reserve study and percent funded for major components
- Schedule of reserve contributions
- Five-year history of regular and special assessments
- Any pending special assessments or planned capital projects with cost estimates
- Master insurance policy declarations page, including windstorm deductible
- Flood zone designation and any Elevation Certificate
- Governing documents: Declaration, Bylaws, Rules and Regulations
- Board meeting minutes for the past 12 to 24 months
- List of recent replacements: roofs, elevators, seawalls and projected lifespans
- Management company contact and contract
- Litigation summary if any
- Pet, rental and occupancy restrictions
- Utility allocation and what services the fee covers
- Club membership status, pricing, transfer rules and any club assessments
- Marina slip availability, fees, waitlists and size limits
Common cost surprises
- Large windstorm deductibles that become owner loss assessments after a storm
- Special assessments for seawalls, roofs or post-hurricane repairs
- Mandatory club initiation fees or dues that were not disclosed upfront
- Flood insurance gaps or high premiums for certain buildings
- Higher utilities when water or internet are not included in HOA fees
Make a confident plan
The right plan starts with clear numbers and documents. With coastal expertise in northern Palm Beach and southern Martin County, construction know-how and full-service resources, you can evaluate Sailfish Point with confidence. If you would like help reviewing budgets, reserves, insurance responsibilities or membership rules, connect with Trisha Hutchinson for a focused, step-by-step path from shortlist to close.
FAQs
What affects HOA fees at Sailfish Point?
- Fees reflect amenities, building age and condition, staffing, insurance costs and reserve funding. Always verify the current budget and inclusions for your building.
Do I need flood insurance for a Sailfish Point condo?
- Many coastal buildings sit in FEMA flood zones. Confirm the flood zone, whether the association carries building coverage and what unit-level flood coverage you must maintain.
How do hurricane deductibles impact owners?
- Many master policies use percentage-based windstorm deductibles. If storm damage falls within the deductible, associations can levy a loss assessment to owners. Carry HO‑6 with loss assessment coverage.
Are club memberships mandatory in this community?
- Some properties require club membership while others do not. Confirm mandatory status, initiation fees, dues, transfer rules and any current club assessments before you buy.
What property tax differences apply to second homes?
- Second homes do not receive Florida’s homestead exemption, so you should budget for taxes without homestead benefits. Review assessed value, millage rates and non-ad valorem charges.
