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Reply to "Why do people buy condos?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Even with incredibly high condo fees? Help me understand why…[/quote] I am considering downsizing from a single-family home (with no HOA) to a condo. I'm not interested in condos with high HOA fees (> $1k), which often come with amenities such as gyms and pools that I rarely use. An HOA fee of up to $700 per month would be acceptable to me if the condo is newer and well maintained. For a single-family home, property taxes alone can easily exceed what I would pay in HOA fees, and homeowner's insurance can also be quite expensive.[/quote] I look at overall spending, even if HOA fee seems higher than what I might pay for those services, it’s not a major concern as long as the HOA amount is not large. I prefer to focus on increasing income rather than optimizing small savings.[/quote]
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