Buying in Bay Colony
Bay Colony purchases go wrong in predictable places: the wrong building for the buyer’s priorities, an unread reserve study, or an offer priced from asking prices instead of closings. This guide follows the order the decisions actually happen.
1. Choose the building before the residence
Decide first between a Gulf-front tower and a bay-side high-rise, then on plan size and floor range. The towers differ by decades in age and by thousands of square feet in plan size; the comparison puts them side by side and each building page lists what to watch for.
2. Read the association documents
- The current budget, reserve schedule and the last year of board minutes.
- Rules on rentals, pets, renovations and working hours, and the association’s approval process for buyers.
- Any special assessment passed or under discussion, and the estoppel certificate before closing.
3. Florida’s condominium safety requirements
Since the 2021 Surfside collapse, Florida law requires milestone structural inspections and structural integrity reserve studies for condominium buildings of this height and age, and limits how associations can defer reserve funding. Ask for the most recent milestone inspection report, the reserve study, and whether either led to higher fees or an assessment. Florida also gives resale condominium buyers a short review period after they receive the association’s documents — use it deliberately.
4. Insurance and storm readiness
- The master policy: what it covers, its deductible, and when it renews.
- Your own HO-6 policy and flood coverage, based on the building’s flood zone.
- Storm protection on the unit and the building envelope; lenders will ask about both.
5. Views, orientation and floor
Stack position and exposure (Gulf-front, corner, bay or preserve) often matter more than floor. Where the data supports it, the floor premium is measurable: at The Biltmore it is about $11 per square foot per floor, roughly 1.1%.
6. Beach Club and Pelican Bay access
Confirm which club memberships convey with the residence, what is optional, and the associated fees and transfer terms. Structures vary by neighborhood.
7. Price the offer from closings
Use closed sales in the same building, weighted by recency, floor and stack — not asking prices. For context, Biltmore sales over the trailing 24 months closed at about 92% of final list price after an average of 226 days on market (data through July 7, 2026).
8. Inspect and close
Keep inspection and financing contingencies aligned with the association’s approval timeline, and verify every figure in this guide independently before relying on it.
Galen Gonzalez, REALTOR®
Galen Gonzalez provides data-driven buyer and seller representation across Bay Colony, Pelican Bay, and Naples beachfront condominiums. His research combines building-level sales history, current market conditions, and residence-specific positioning.