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Real Estate
Reply to "What’s covered by condo HOA fees?"
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[quote=Anonymous]Good Condos with low amenities could have high monthly fees and Condos with low amenities and low monthly fees could be bad. My building for instance took a ten year loan to do a lot of needed work, roofs, driveways, cement, fences. So our common charges were higher for ten years. A building nearby had lower common charges at that time but little reserves and tons of upcoming work that they had no way to pay for. Oddly people paid more the other building in years 5-10 of our loan. But eventually they had to jack common charges which doubled overnight eventually to do the work. so it not just the cost per month it is where it is going. I bought in my building in year 4 of that loan and ok with it. I was getting benefit of new roof, siding, fences and only paying 6/10s of cost and got it cheaper due to the higher common charges. . [/quote]
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