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Reply to "Why do people buy condos?"
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[quote=Anonymous]This doesn't apply to everyone but I know several affluent retirees who moved to high-fee condo buildings, paying cash for the unit. The fees are $2k a month, sometimes even more. But spending 24k a year on condo fees when you have an annual income of 250k+ is not something you worry about. If everything else ticks the boxes, then why not? If you stayed in your house you're still paying property taxes and maintenance costs and groundskeeping. Or if you moved to a CCRC, you're paying way more money each month. [/quote]
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