Reply to Why do people buy condos?

Forum Index » Real Estate

Reply to "Why do people buy condos?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]To folks complaining about the condo fee.  Bear in mind it generally is meant to cover both:

- services / operating costs, like taxes maintenance, cleaning, utilities for common spaces, landscaping, elevator service contract, maybe a doorman or parking attendant, bookkeeping services (as applicable) and 
- capital expenditures and improvements, like an elevator modernization in 20 years, roof replacement, rooftop units for common area HVAC, brick or exterior remediation after 30-50 years, etc

Some condo associations massively underestimated the latter and so are underwater.  Some of those increase the annual dues to make up for it and others ‘roll the dice’ by issuing one time assessments to whomever lives there at the moment.

Just understand what you’re paying for before stating an arbitrary fee is too high or too low.  $700 could be either, but hard to say without the other info.

If the building is in poor shape with a low fee your unit’s purchase price should be pretty cheap because you are going to get hit up for something soon…. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics