Reply to Keep big suburban house or get a condo in city

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The problem with condos are the fees[/quote]

Not really.  Those fees include things you no longer need to pay for directly:

HOA fees include
Insurance on condo (except our belongings and $25k deductible)
Alarm system (don't need with 24 hour concierge)
All exterior maintenance ([b][b]no roof, no painting[/b][/b], no snow shoveling,etc) 
Hot water heater is HOA managed (central for the bldg so no leak issues) 
No landscaping to manage

Once you consider that the costs are not that much.  It balances out with what we paid for our big ass house.

[/quote]

What about the capital assessments?  That seems like a bigger issue and they often feel like big surprises.  A homeowner doesn't really have any maintenance charges for a roof or painting, other than every 20 years you need a new roof and you may paint your house every 10 years...but i assume a condo also charges the tenants for these things as well with capital assessments.

I realize the situation in Florida is extreme, but obviously tons of people now looking to offload their condos for whatever they can get because the older buildings are getting hit with massive capital calls.
[/quote]

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