Buying a Condo Near UCSD and UTC: What to Check Before You Buy

by Trevor Landress

Before you buy a condo near UC San Diego or UTC (ZIP codes 92122 and 92037), read the HOA's budget, its reserve numbers, its rules and its recent meeting minutes. The monthly dues are only part of the story, and the bigger surprises can hide in the paperwork.

The short answer

Get the CC&Rs, bylaws, rules, board minutes, budget and insurance information early.
Check the reserves. Low reserves can turn into big special assessments.
Know the limits: a board can raise regular dues up to 20% a year without owner approval, per the DRE's guide.
If you plan to use an FHA loan, check that the condo project is FHA approved.

Start with the HOA documents

The California Department of Real Estate has a consumer booklet on living in a common interest development, which is the formal name for condo and townhome communities. It lists what to review before you buy: the governing documents (the CC&Rs, the bylaws and the rules), recent board meeting minutes, and evidence of adequate insurance, a sound budget and sufficient reserves. It also suggests attending a board meeting if you can.

The booklet says sellers must give buyers the required documents. Your contingency period is when you get to read them, so don't skim. If you want a refresher on how that window works, see my guide to home buying contingencies in San Diego.

Reserves: the number that tells you the most

Reserves are long-term savings for maintaining and replacing the common property, like roofs, elevators and pipes. The DRE says they're funded through regular assessments, and that a well-run community should show an adequate reserve account.

An ABC7 story from September 7, 2026 shows what can happen when reserves fall short. Owners in a 499-unit Torrance condo complex were hit with a special assessment of more than $49,000 each, tied to about $19 million in repairs that included a $13 million podium rebuild. An HOA attorney quoted in the story said special assessments are rising across California because of higher insurance costs and a new state balcony inspection law. The story's advice for owners is to read the HOA's annual financial disclosures, especially the percent-funded figure, and to raise concerns if it's below 55%.

That's one complex in Torrance, not San Diego. The lesson still applies here: low reserves can turn into a very large bill.

Regular dues, increases and special assessments

Regular assessments pay for daily operations and reserves, and they're usually billed monthly. According to the DRE booklet, a board can raise them by up to 20% a year without owner approval. Larger increases need a majority vote of the members, with exceptions for things like emergency repairs. The budget has to go out to owners 30 to 90 days before the fiscal year ends.

Here's what that looks like with made-up numbers. If your dues are $600 a month, a 20% increase would take them to $720 a month. For special assessments, the DRE says that without member approval they can't exceed 5% of the year's gross budgeted expenses. If the budget were $1,000,000, that cap would be $50,000 for the year, shared among the owners. Larger special assessments need the members to approve them.

What the HOA covers and what you cover

Generally, the HOA handles the common areas and shared facilities and the maintenance and insurance set out in the CC&Rs and the budget. You handle the repairs inside your unit, paying your assessments on time and following the rules. The exact split is in your building's documents, and it's different from building to building, so read yours.

Late payments can get expensive

The DRE says an assessment is delinquent if it isn't paid 15 days after its due date, unless the governing documents allow more time. A late fee of $10 or 10% of the monthly assessment, whichever is greater, may apply unless the CC&Rs set a lower amount. After 30 days, the association may charge interest of up to 12% a year. Unpaid balances can lead to a lien.

If you plan to use an FHA loan

HUD has an online search page for FHA-approved condo projects. You can search by state, county, city or ZIP code, by condo name or ID, and by status, such as approved, expired, rejected or withdrawn. Searching 92122 or 92037 is a quick way to see which nearby projects are on the list. Check this before you write an offer, because a project that isn't approved can limit your loan options.

What's different near UCSD and UTC

The City's plan for University City makes room for a lot of new housing over the coming decades, so you may see new buildings with new HOAs next to older ones. I walk through that plan in my UTC and University City 92122 guide. Every building has its own budget, age and reserve level, so don't judge one by another. To compare what homes in the two ZIP codes actually sold for, see University City 92122 vs. La Jolla 92037.

This is not a guarantee

A building that looks healthy on paper can still have a surprise, and a building with low reserves might never have a problem. Documents tell you what's known today, not what will happen. That's the reason to read them closely and ask questions before your contingency period ends.

My advice for San Diego buyers

Ask for the HOA documents right away, and read the budget and the reserve numbers first.
Read the recent board minutes. They tell you what the board is arguing about and what repairs are coming.
Ask about any planned or recent special assessments, and how the building pays for insurance.
If you need an FHA loan, check HUD's condo list before you fall in love with a unit.

Call or text me at (619) 402-4614 or send me a message.

Call or text (619) 402-4614 Contact Trevor Landress

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Frequently asked questions

What documents should I review before buying a condo?

The California Department of Real Estate suggests reviewing the CC&Rs, bylaws and rules, recent board meeting minutes, and proof of adequate insurance, a sound budget and sufficient reserves. Sellers must provide required documents to buyers.

How much can HOA dues go up in a year?

Under the DRE's guide, a board can raise regular assessments by up to 20% a year without owner approval. Larger increases need a majority vote of the members, with exceptions for emergencies.

What is a special assessment?

It's a one-time charge to owners for major repairs, replacements or unexpected costs. The DRE says that without member approval, special assessments in a fiscal year can't exceed 5% of the association's gross budgeted expenses.

Can I use an FHA loan to buy a condo?

Only if the condo project is FHA approved. HUD has a search page where you can look up approved projects by ZIP code, condo name or status, so check before you make an offer.

Good to know: I'm a REALTOR, not an attorney. HOA rules and your rights depend on your building's documents and your situation, so have an attorney review them if you have questions.

About the author

Trevor Landress is a San Diego REALTOR® with Coldwell Banker West (DRE# 02126901). He was born and raised in San Diego and has been licensed since 2021. Trevor helps homeowners sell, guides first-time buyers through the home buying process and assists investors with their next acquisition. His work includes negotiating offers, analyzing market trends, building pricing strategies and running marketing campaigns for his listings.

He serves clients across San Diego County, from coastal communities like La Jolla, Del Mar and Carlsbad to neighborhoods inland. Trevor is part of the Campbell Group, a three-generation real estate team, and he and the Campbell Group consistently rank as a top producing team at Coldwell Banker West each month. He writes these guides to help San Diego buyers and sellers navigate an ever-changing market. To talk through your plans, call or text (619) 402-4614 or contact Trevor Landress.