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Reply to "Is this too much to spend on a house?"
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[quote=Anonymous]I think HOA fees are also supposed to increase regularly. I remember reading about the after the condo collapse in Miami last year. I think you need to be prepared to pay more than $1,000 if big improvements are needed and that sort of thing. I would see if there is any information about how much the HOA can be increased each year or in a 5- or 10-year period in the contract. Bottom line, a high HOA on top of a high mortgage could squeeze you if/when you have kids or if/when your circumstances change. A high HOA could also make the condo harder to sell.[/quote]
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