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Reply to "DC condo: $900k in 2017 -> $770k in 2025"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Here’s a new construction condo in the same area, similar size, with much lower HOA fees. https://redf.in/eNbjw4 [/quote] Watch out though because low HOA fees can just mean they’re not preparing adequately for the future when they will need to replace elevators, roofs, windows etc etc. Then they will dramatically hike the fees and/or do a big assessment. [/quote] That is exactly my point. The HOAs on this new construction are likely artificially low because the developer is trying to make it more desirable and artificially inflate the buyer pool that can qualify for a loan. I suspect that the original condo listed on this thread had similar HOA fees when it was first built. The annual HOA fee increasing from 300 to 1000 would be capitalized into the property value and reduce the value of the property by around 5%. [/quote]
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