Reply to starting to think downsizing to a townhouse not worth it

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My wife and I own a SFH in Sterling and we’re considering downsizing to a condo near the Reston Town Center when we retired. There’s a current listing that fits what we would be interested in (https://www.redfin.com/VA/Reston/1830-Fountain-Dr-20190/unit-1004/home/9855887) for $875k. However the HOA is $1365/mo, which is more than ten times what we’re paying now. That’s on the high end, but some of the other HOA fees are in the $800-$1000/month range. I don’t know if we can justify that, and really wonder: what do you get for that? Where does all that money go?
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It’s in the listing…you get access to two gyms, an outdoor pool, club room and other amenities, and I assume it covers all utilities?

You may not value those things which is the issue.[/quote]

HOA fees usually do not cover utilities. [/quote]

it depends.  They typically cover utilities in all common areas.  In our condo, GAS is included (for cooking and the fireplace).  IN winter I rarely run the heat as we like the bedroom cool, live on the 15 floor (heat rises) and we heat the main living area with the fireplace as needed 95% of the time.  It's included in my HOA fees

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