Canada’s retiree snowbirds are known for fleeing the winter chill by heading down to Florida. However, it’s no longer just the cold weather pushing Canadians south. Increasingly, families are permanently relocating to Florida, now the second-fastest-growing state in the U.S., according to The National Post.A recent CBC report shared a staggering statistic: 126,340 people left Canada for the U.S. in 2022, marking a 70% increase over the last decade. But what’s driving this migration, and what should Canadians be mindful of before making the move?For many Canadians, it’s not just about escaping Canadian winters—it’s about affordability. The average home price in the U.S. is 20% lower than in Canada, according to the CBC. Florida in particular has become a hotspot for those seeking better value, especially when compared to cities like Toronto and its surrounding areas. For instance, while the average house price in Vaughan hovers around $1.25 million, in Boca Raton, Florida, it’s just $580,000.Additionally, professions in high demand, such as information technology and healthcare, often offer higher wages in the U.S. And let’s not forget Florida’s no state income tax policy—a big draw for those seeking financial relief. However, rising home insurance rates and higher property taxes in certain states, like Florida, can offset some of these savings.While the allure of Florida is strong, there are key factors to consider before making the jump:Healthcare: Canada’s universal healthcare system does not exist in the U.S. Private insurance is essential, and costs can vary dramatically.Taxes: Navigating U.S. tax laws can be complex, particularly for Canadian expats. Be sure to seek professional advice on tax obligations.Relocation Costs: Moving an entire household to another country involves significant upfront costs—factor in expenses like visas, transportation, and setting up utilities.One key aspect that can catch Canadians off guard is the difference between condo and Homeowners Association (HOA) fees. Both of these can impact monthly expenses, but they serve different purposes.Condo Fees are monthly payments made by condo owners to cover maintenance of shared spaces, such as pools, gyms, and communal areas. Condo fees often vary depending on the building’s amenities and the size of the unit.HOA Fees unlike condo fees, which focus on shared living spaces, are paid by homeowners in planned communities. HOAs regulate community standards and maintain common areas like roads, parks, and sometimes shared amenities. While HOA fees tend to be lower than condo fees, they can still surprise new homeowners, particularly in areas like Florida, where fees have been rising in older buildings/developments.The collapse of the Champlain Towers South in Surfside, Florida, in 2021 was a wake-up call for the state. As a result, Florida introduced Senate Bill 4D, which mandates stricter structural inspections for buildings three stories or higher and requires increased reserve funds for future repairs. While these changes aim to improve safety, they come at a cost—often reflected in soaring condo fees.According to the Miami Herald, the average monthly condo fee in Miami is now $900 USD, a number starting to creep slower to maintenance fees seen in Canadian cities. This increase reflects both the cost of new regulatory requirements and deferred maintenance that many Florida condos are now forced to confront.&nbsp;Special assessments, which should be rare, are becoming more frequent—a sign of deeper issues. This may indicate the condo board or management is failing to budget correctly, or they’re deferring maintenance until it becomes critical.&nbsp;Tip: If the building recently underwent the recertification process, you won’t have to worry about any major assessments for a while. However, if it's still in the process, buyers may be able to negotiate a discount based on the cost of the upcoming assessment.It’s also worth noting that if multiple units in a building are listed for sale at the same time, it could be because owners can’t afford the assessment, giving buyers potential leverage in negotiations. To assess condo fees, you should calculate them per square foot—$1.00 to $1.30 per square foot is considered excellent in today's market. As with any home purchase, always do your due diligence. Newer buildings are generally less likely to face special assessments in the near future.Buying property in Florida can be a great investment, but it’s essential to do your homework. If you’re considering moving into a condo or HOA-managed community, request financial statements and recent reserve studies. Ask questions of the HOA board, not just the seller, to avoid any unpleasant surprises, like unexpected assessments for major repairs. A special assessment for a structural fix or an unforeseen insurance increase can quickly turn a budget-friendly move into a costly endeavor.For instance, one Florida community saw an unexpected $5,000 assessment for repairing a 40-year-old water pipe—something the new owner was blindsided by because they hadn’t properly researched the HOA’s financial health. Always attend HOA meetings, review budgets, and understand the long-term financial implications before you commit.Maintenance fees for condos in Toronto typically range from $500 to $1,700 per month, depending on the building and the amenities offered (Source: A Guide to Condo Maintenance Fees in Toronto 2023). These fees generally cover a variety of expenses, including:<ul style="list-style-type:disc;"><li style="text-align:justify;">A reserve fund for unexpected repairs and maintenance (required by the Condominium Act)</li><li style="text-align:justify;">Building maintenance and general upkeep</li><li style="text-align:justify;">Amenities such as fitness centers, pools, and common areas</li></ul>However, fees may increase if the building's usage exceeds expectations or if there are unexpected repair costs.In Florida, HOA fees tend to be lower, with an average range of $100–$500 per month. By contrast, Toronto’s condo fees are generally higher, ranging from $500 to $1,700 per month.Florida HOA fees are more dependent on the specific amenities and services provided by the association, while Toronto condo fees are more standardized across buildings, with a stronger focus on reserve funding and maintenance. Toronto condo fees are required by law to include a reserve fund for emergency repairs and maintenance. In Florida, HOA fees may not always have this requirement, adding variability in terms of financial preparedness.When comparing HOA fees in Florida and condo fees in Toronto, it’s important to understand the unique characteristics of each region and the type of community you’re interested in. Florida HOA fees are generally lower and more variable, while Toronto’s fees are higher but more standardized. Homebuyers and investors should thoroughly research individual associations and buildings to understand what their fees cover—and whether those fees align with their long-term financial plans—before making a decision.For Canadians seeking affordability, better weather, and new job opportunities, Florida has undeniable appeal. But relocating isn’t as simple as packing up and moving south. Condo fees, HOA regulations, insurance costs, and U.S. tax obligations are all factors that can add up quickly.So, before you decide to chase the sun, remember to do some careful planning and research, and buying a second property or moving to Florida will offer a rewarding new chapter filled with opportunity and sunshine.

Florida: What Canadians Should Know Before Moving South

Discover with RIFO what Canadians should know before relocating to Florida, from affordable housing and taxes to HOA fees, condo costs, and the sunny benefits of a new lifestyle

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