Wealthy buyers are snapping up million-dollar plus Florida condos at record rates all along the Atlantic and Gulf coasts, and newer, even more luxurious condos are rising along the beaches and waterways.

One Watermark Place, a 15-story luxury tower in West Palm Beach overlooking the Intracoastal Waterway and the island town of Palm Beach, was 96 percent reserved on its first day at prices ranging up to $8.4 million.

The attraction? Luxury condos frequently offer a total resort lifestyle that can include concierge service, health club and spa, tennis and golf, fine dining, and a whirlwind of social activities.

For those interested in spending more time enjoying life and less time worrying about maintenance of a home, luxury condo living can translate to la dolce vita.

Adding to the allure of condominium living in many cases are breathtaking ocean and waterway views. Many luxury condos have private beaches, and some have a dock for your boat.

The issues you will want to carefully explore in purchasing a luxury condominium are the pretty much same whether you are paying $10 million or $1,000,000.

Each condominium has its own unique structure that governs how it handles such matters as association fees, property taxes, condo declaration restrictions, bylaws, amenities, etc.

In addition to inquiring about these, the luxury condo buyer will want to learn about restrictions on the use of a unit (more may be better); special assessments for extraordinary repairs; the financial soundness of the complex; parking provisions; and any environmental problems.

The other challenge is that in buying new luxury condos in Florida, preconstruction sale is common. Many of the prime units are reserved long before the buildings are completed.

That gives you a pretty good idea of how appealing this pampered luxury condo lifestyle is to a growing number of Floridians. But when you are buying something that only exists on paper, caution -- and the help of a knowledgable Realtor -- is obviously wise.