New Construction vs. Resale Condos Downtown Sarasota

Standing on a sunny downtown sidewalk with the bay sparkling nearby, you might wonder whether a sleek new tower or a well-kept resale condo is the smarter move in 34236. You want walkability, views, and a home that fits your lifestyle without surprise costs. In this guide, you’ll compare new construction and resale options, understand fees and reserves, and get a practical due‑diligence checklist tailored to downtown Sarasota. Let’s dive in.

Quick snapshot: new vs. resale

New construction often delivers modern layouts, impact-rated windows, fresh amenities, and builder warranties. You may pay a premium and see HOA fees rise after developer turnover. Resale units offer price variety, visible history, and often easier financing, although older systems can mean near-term updates or special assessments. The right choice comes down to your priorities on finishes, budget, reserves, and risk tolerance.

Amenities and services

New construction

You will likely find contemporary amenities like fitness centers, resort-style pools, club rooms, EV charging, secured parking, and concierge-style services. Mechanical systems are new, and common spaces should feel fresh and thoughtfully designed. The trade-off is cost. Robust amenity packages can drive higher HOA fees, especially once owners take control and the association budgets for long-term care.

Resale

Resale buildings range from boutique properties with minimal common areas to full-service towers with staffed desks and established programming. Fees can be lower if amenities are limited. Older amenities may need upgrades, so review meeting minutes and capital plans to gauge what is coming next.

HOA fees and reserves

New construction

Developers often set early dues at attractive levels while they control the association. After turnover, owners usually increase reserves and operating budgets to sustainable levels. That shift can cause fee hikes or special assessments. Before you commit, ask for the turnover timing, projected post-turnover budget, reserve study or schedule, and any items the developer remains responsible for under Chapter 718, Florida Statutes.

Resale

Established buildings usually have a track record. Study the latest reserve study, the association’s percent funded, recent special assessments, and audited financials. A low percent funded can signal higher assessment risk. Ask for 12 to 24 months of board minutes to see what projects are planned and how the board manages costs.

Finishes, layouts, build quality

New construction

New condos often feature open layouts, higher ceilings, designer kitchens and baths, energy-efficient systems, and integrated smart-home options. Impact glazing is common in coastal Florida. Confirm actual materials, upgrade options, and written warranty terms before you finalize.

Resale

You will find a wide range, from original interiors to turnkey updates that rival new. You may secure a larger floor plan or better view at a lower cost per square foot. If a unit needs renovation, budget for permits, contractor lead times, and temporary housing if necessary.

Assessments and maintenance history

New construction

Immediate deferred maintenance is unlikely since common elements are new. Yet early associations can face costs if turnover happens before reserves are fully built or if warranty issues require coordination with the developer. Review completion lists, punch lists, and any escrowed funds for unfinished items.

Resale

History is your friend. Ask for a record of major projects like roof replacement, balcony or garage repairs, elevator modernization, or envelope work. Study special assessment notices and engineering reports to understand what has been done and what still lies ahead.

Views and walkability

Both new and resale buildings downtown offer strong access to dining, culture, and the waterfront. Views of Sarasota Bay or the city vary by stack and height. For pre-construction or recently completed buildings, review site plans and check pending projects near your building through the City of Sarasota planning resources. Walk the route to your favorite spots at different times of day to assess street noise, lighting, and pedestrian comfort.

Warranties and building safety

New construction

Many builders provide a warranty structure that covers workmanship for about one year, major systems for two years, and structural components for longer. Always verify the exact terms and claim process in writing. After developer control ends, enforcement of warranty items often depends on clear documentation and timely claims.

Resale

Resale condos are typically sold as-is regarding unit interiors. Association warranties, if any, relate to common elements and follow association policy. For both new and resale buildings, Florida’s post‑Surfside laws require certain coastal buildings to complete milestone structural inspections and reserve studies on a set schedule. Ask for recent reports and plans. State guidance is available through the Florida DBPR on milestone inspections and structural integrity reserve studies.

Flood, wind, and insurance

In 34236, wind and flood exposure can influence your monthly costs and risk. Check your building’s flood zone using the FEMA Flood Map Service Center and request an elevation certificate if available. Review the association’s master policy for coverage type, wind/hurricane deductible, and whether a flood policy covers common areas. You will likely carry an HO‑6 policy to cover interior finishes, personal property, and loss assessments. Ask your insurer for a unit-specific flood and wind premium estimate before you make an offer.

Financing, rentals, and usage rules

Lenders review condo projects at the building level. They look at reserve funding, owner-occupancy ratios, delinquencies, litigation, and usage restrictions. New projects with significant unsold inventory can face tighter lending rules, which may raise down payment needs. Review typical standards through Fannie Mae’s condo project eligibility resources and ask your lender about the specific building early.

Rental rules vary by association and can affect both financing and your plans. Some communities allow seasonal or short-term rentals. Others require longer lease terms or waiting periods for new owners. Confirm the rules in the governing documents before touring so you focus on buildings that fit your goals.

Your due diligence checklist

• Association financials and reserves
  • Current budget, year-to-date financials, and audited statements
  • Most recent reserve study and percent funded
  • History of fee changes and special assessments over the last 3 to 5 years
• Governing documents and usage
  • Declaration, bylaws, rules, and rental/short-term rental policy
  • Parking, storage, guest parking, and move-in/move-out rules
• Meeting minutes and reports
  • Board and membership minutes for the last 12 to 24 months
  • Engineering, roof, elevator, garage, balcony, or envelope reports
  • For new builds: completion lists, punch lists, and warranty instructions
• Florida statutory disclosures
  • Resale certificate items as outlined in Chapter 718, Florida Statutes
  • Turnover timeline and any developer-retained responsibilities
• Safety and inspections
  • Milestone inspection reports and structural integrity reserve studies
  • City permits for recent or ongoing work
• Flood, wind, and insurance
  • FEMA flood zone, elevation certificate, and flood premium estimate for the unit
  • Association master policy details, including hurricane deductible
  • Your HO‑6 coverage quote and loss assessment coverage
• Financing and title
  • Lender project eligibility check for the specific building
  • Estoppel letter to confirm dues, assessments, and account status
• On-site checks
  • Visit at different times of day
  • Test routes to dining, arts venues, and marinas
  • Evaluate lobby activity, staff responsiveness, and elevator service

How to choose what fits your lifestyle

Start by ranking what matters most: fresh finishes and warranties, lower upfront price, a specific view, or predictable monthly costs. Then compare buildings by the strength of their reserves, maintenance history, and insurance picture. The most important monthly numbers are your HOA dues plus insurance, flood, and property taxes, paired with the association’s long-term plan. When those align with your budget and your wish list, you will feel confident that you picked the right downtown Sarasota home.

Ready to explore top-tier options with a local, concierge approach? Connect with Gigi Kuster to tour curated buildings, review association health, and tailor a plan that fits your Sarasota lifestyle.

FAQs

What should I compare first when choosing between new and resale condos in downtown Sarasota?

• Start with HOA fees and reserves, flood and insurance costs, and the building’s maintenance history, then weigh finishes, views, and location.

How do I verify a condo association’s reserves and financial health in Florida?

• Request the latest reserve study, percent funded, budgets, financial statements, and the resale certificate items described in Chapter 718, Florida Statutes.

What are Florida milestone inspections and why do they matter in 34236?

• Certain coastal buildings must complete periodic structural inspections and reserve studies; ask for reports and see DBPR guidance on milestone inspections and SIRS.

How do flood zones affect condo ownership costs downtown?

• Flood zones can change insurance requirements and premiums; confirm your building’s zone on the FEMA Flood Map Service Center and get a unit-specific quote.

Is financing harder for new downtown Sarasota condo projects?

• It can be if there is high unsold inventory or limited reserves; ask your lender to review the building against Fannie Mae condo project standards early.

Do downtown Sarasota condos allow short-term rentals?

• Policies vary by association; check the declaration and rules for lease terms, waiting periods, and any seasonal rental restrictions before you tour.