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Reply to "Is this too much to spend on a house?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Why is the HOA so expensive?[/quote] I definitely hear the point that it’s not deductible, but that HOA amount is pretty normal for a DC condo with standard amenities.[/quote] I get the higher HOA for a condo. Many condos include most of your insurance in the HOA fee. IN my DC condo, I need $25K insurance and everything else is provided with my HOA fees (ie. if I cause damage with a broken pipe, I have to pay the $25K deductible for the HOA insurance, then it kicks in. Typically this is paid by the owners insurance, after you pay your deductible to your own insurance. ) So my condo insurance is significantly lower than when I owned a home of similar value. [/quote]
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