Anonymous
05/30/2026 15:48
Subject: Why do people buy condos?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Even with incredibly high condo fees? Help me understand why…
I am considering downsizing from a single-family home (with no HOA) to a condo. I'm not interested in condos with high HOA fees (> $1k), which often come with amenities such as gyms and pools that I rarely use. An HOA fee of up to $700 per month would be acceptable to me if the condo is newer and well maintained. For a single-family home, property taxes alone can easily exceed what I would pay in HOA fees, and homeowner's insurance can also be quite expensive.
The single biggest expense of our condo HOA is insurance. And one thing about a small condo building like ours is that the maintenance costs are pretty similar to a SFH but a lot of it gets split 5 ways because we share costs. So when we had to get a major roof repair, the building did a special assessment and each unit paid 3.5k. The same repair on a SFH in our same neighborhood would have cost 15k.
Same with more standard maintenance like landscaping. On the one hand we have to share the exterior outdoor space. On the other hand we have a landscaper who comes monthly and keeps it looking gorgeous, and the per-unit cost is less than $100 a month. Go see if you can find a landscaper who will keep your front yard in mint condition for less than $100 a month, I dare you.
With the really large buildings and buildings over a certain age, the math doesn't work as well. But a building with 10 or fewer units that is less than 30 years old? It has really worked in our favor IMO.
I really didn’t realize condo insurance could cost so much.
Anonymous
05/30/2026 15:46
Subject: Why do people buy condos?
Anonymous wrote:Because we couldn't afford a house without moving far out and having to spend hours in our car every day.
But our condo building's fees are pretty reasonable. It's basically what we would spend on water, trash, landscaping, and other external maintenance anyway. Our condo board is responsible and has never imposed onerous special assessments either.
I would consider living in a high fee building with a lot of amenities in my old age because I think the extra money on fees is worth for things like a doorman, a mail room, a gym or pool, elevator, etc., when you are in your 70s. I think it can be a good bridge between living in a SFH on your own to assisted living as long as you're healthy.
If you manage your finances well, a much lower HOA-fee townhouse can actually be cheaper to own and maintain than a condo.
Anonymous
05/30/2026 15:45
Subject: Why do people buy condos?
Anonymous wrote:Anonymous wrote:Even with incredibly high condo fees? Help me understand why…
I am considering downsizing from a single-family home (with no HOA) to a condo. I'm not interested in condos with high HOA fees (> $1k), which often come with amenities such as gyms and pools that I rarely use. An HOA fee of up to $700 per month would be acceptable to me if the condo is newer and well maintained. For a single-family home, property taxes alone can easily exceed what I would pay in HOA fees, and homeowner's insurance can also be quite expensive.
The single biggest expense of our condo HOA is insurance. And one thing about a small condo building like ours is that the maintenance costs are pretty similar to a SFH but a lot of it gets split 5 ways because we share costs. So when we had to get a major roof repair, the building did a special assessment and each unit paid 3.5k. The same repair on a SFH in our same neighborhood would have cost 15k.
Same with more standard maintenance like landscaping. On the one hand we have to share the exterior outdoor space. On the other hand we have a landscaper who comes monthly and keeps it looking gorgeous, and the per-unit cost is less than $100 a month. Go see if you can find a landscaper who will keep your front yard in mint condition for less than $100 a month, I dare you.
With the really large buildings and buildings over a certain age, the math doesn't work as well. But a building with 10 or fewer units that is less than 30 years old? It has really worked in our favor IMO.
Anonymous
05/30/2026 15:44
Subject: Why do people buy condos?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Even with incredibly high condo fees? Help me understand why…
I am considering downsizing from a single-family home (with no HOA) to a condo. I'm not interested in condos with high HOA fees (> $1k), which often come with amenities such as gyms and pools that I rarely use. An HOA fee of up to $700 per month would be acceptable to me if the condo is newer and well maintained. For a single-family home, property taxes alone can easily exceed what I would pay in HOA fees, and homeowner's insurance can also be quite expensive.
The condos performing badly didnt start out with $1000+ fees. They started around $500 and now it is over $1000, which is why prices are not going up.
https://www.redfin.com/VA/Alexandria/8627-Beekman-Pl-22309/unit-27C/home/9810813
This is also acceptable to me, HOA is reasonable.
Anonymous
05/30/2026 15:43
Subject: Why do people buy condos?
Cost of insurance , maintenance, repairs, labor, is all going up. Condo fees are going to reflect that.
Anonymous
05/30/2026 15:43
Subject: Why do people buy condos?
I didnt realize when I was a first time homeowner buying a new build condo that developers start the condo fees very low to entice you in. Then they increase year after year. My condo fee was $159 per month in South Riding in Loudoun Co. Included pools, planned community etc. Now I think the condo fee is over $400 a month.
If youve never bought into an HOA before you wouldnt know.
If youve never bought into an HOA before you wouldnt know.
Anonymous
05/30/2026 15:42
Subject: Why do people buy condos?
Anonymous wrote:Because we couldn't afford a house without moving far out and having to spend hours in our car every day.
But our condo building's fees are pretty reasonable. It's basically what we would spend on water, trash, landscaping, and other external maintenance anyway. Our condo board is responsible and has never imposed onerous special assessments either.
I would consider living in a high fee building with a lot of amenities in my old age because I think the extra money on fees is worth for things like a doorman, a mail room, a gym or pool, elevator, etc., when you are in your 70s. I think it can be a good bridge between living in a SFH on your own to assisted living as long as you're healthy.
If your condo doesn't have a lot of reserves,.the fees are going to go up if they haven't already.
Anonymous
05/30/2026 15:41
Subject: Why do people buy condos?
Anonymous wrote:Anonymous wrote:Even with incredibly high condo fees? Help me understand why…
I am considering downsizing from a single-family home (with no HOA) to a condo. I'm not interested in condos with high HOA fees (> $1k), which often come with amenities such as gyms and pools that I rarely use. An HOA fee of up to $700 per month would be acceptable to me if the condo is newer and well maintained. For a single-family home, property taxes alone can easily exceed what I would pay in HOA fees, and homeowner's insurance can also be quite expensive.
The condos performing badly didnt start out with $1000+ fees. They started around $500 and now it is over $1000, which is why prices are not going up.
Anonymous
05/30/2026 15:39
Subject: Why do people buy condos?
Because we couldn't afford a house without moving far out and having to spend hours in our car every day.
But our condo building's fees are pretty reasonable. It's basically what we would spend on water, trash, landscaping, and other external maintenance anyway. Our condo board is responsible and has never imposed onerous special assessments either.
I would consider living in a high fee building with a lot of amenities in my old age because I think the extra money on fees is worth for things like a doorman, a mail room, a gym or pool, elevator, etc., when you are in your 70s. I think it can be a good bridge between living in a SFH on your own to assisted living as long as you're healthy.
But our condo building's fees are pretty reasonable. It's basically what we would spend on water, trash, landscaping, and other external maintenance anyway. Our condo board is responsible and has never imposed onerous special assessments either.
I would consider living in a high fee building with a lot of amenities in my old age because I think the extra money on fees is worth for things like a doorman, a mail room, a gym or pool, elevator, etc., when you are in your 70s. I think it can be a good bridge between living in a SFH on your own to assisted living as long as you're healthy.
Anonymous
05/30/2026 15:39
Subject: Why do people buy condos?
Live in one and grew up in one and always lived in one.
Condos are convenient: my family traveled a lot so it was very easy to turn the key and just leave and never have to worry about maintenance.
Even in a townhouse you have to worry about the backyard, what to do with trash, security of the place etc.
Condos fill a niche and aren't for everyone but if you routinely travel and want something in a good location then they work.
Also space wise, if you purchase a larger sized one (which you should if you're a family) they really don't feel smaller than a house and it's all one floor living which makes it so much easier.
+1 on condo living and I can always find them at a discount every time I move and put the difference into the market.
Condos are convenient: my family traveled a lot so it was very easy to turn the key and just leave and never have to worry about maintenance.
Even in a townhouse you have to worry about the backyard, what to do with trash, security of the place etc.
Condos fill a niche and aren't for everyone but if you routinely travel and want something in a good location then they work.
Also space wise, if you purchase a larger sized one (which you should if you're a family) they really don't feel smaller than a house and it's all one floor living which makes it so much easier.
+1 on condo living and I can always find them at a discount every time I move and put the difference into the market.
Anonymous
05/30/2026 15:36
Subject: Why do people buy condos?
Anonymous wrote:Anonymous wrote:Even with incredibly high condo fees? Help me understand why…
I am considering downsizing from a single-family home (with no HOA) to a condo. I'm not interested in condos with high HOA fees (> $1k), which often come with amenities such as gyms and pools that I rarely use. An HOA fee of up to $700 per month would be acceptable to me if the condo is newer and well maintained. For a single-family home, property taxes alone can easily exceed what I would pay in HOA fees, and homeowner's insurance can also be quite expensive.
I look at overall spending, even if HOA fee seems higher than what I might pay for those services, it’s not a major concern as long as the HOA amount is not large. I prefer to focus on increasing income rather than optimizing small savings.
Anonymous
05/30/2026 15:19
Subject: Why do people buy condos?
Anonymous wrote:Even with incredibly high condo fees? Help me understand why…
I am considering downsizing from a single-family home (with no HOA) to a condo. I'm not interested in condos with high HOA fees (> $1k), which often come with amenities such as gyms and pools that I rarely use. An HOA fee of up to $700 per month would be acceptable to me if the condo is newer and well maintained. For a single-family home, property taxes alone can easily exceed what I would pay in HOA fees, and homeowner's insurance can also be quite expensive.
Anonymous
05/30/2026 14:57
Subject: Why do people buy condos?
Anonymous wrote:Less maintenance headaches; usually better located, more walkable, and better commute; some people don't need a lot of space with a ton of frivolous purchases
+1
Anonymous
05/30/2026 14:57
Subject: Why do people buy condos?
Less maintenance headaches; usually better located, more walkable, and better commute; some people don't need a lot of space with a ton of frivolous purchases
Anonymous
05/30/2026 14:52
Subject: Why do people buy condos?
Even with incredibly high condo fees? Help me understand why…