Community Chat

[stilltamn8r]

Here in California it must be different...we pay our own utilities even internet....i water my own patio garden...its not like an apartment at all, ihave my own 2car garage, my own washer and dryer, pay my own property taxes, insure my own condo, etc....

[millieshops]

What's included in maintenance payments is laid out in the by-laws that govern each development, and as a potential buyer, you need to check those documents carefully so that you know what you'll be paying for. Way too many people assume the condo fees take care of expenses they don't begin to cover. I know in May I paid an assessment just shy of $9000.00 as my share of a new roof.

Also you need to be aware of the differences between condo ownership and co-op ownership and HOA and other kinds of ownership. The laws vary from state to state and even within states, so ask plenty of questions - and make certain the person answering the questions knows what they're telling you! Even plenty of people who live in a particular development don't really know what they're paying and what laws those payments have to meet. Your source of information should be able to show you the documents that determine the fees you are responsible for.

I know that when I bought my first condo, I was naïve. I didn't check each item and cost them out as I urge you to do. My g/f who lived nearby had water and pest control included in her HOA fee. I didn't. Her fee was more than mine, but I pay separately for those things and there's the difference. It took me a few months of ownership to get everything onto a spreadsheet so I'd know what I was spending.

And keep in mind that if you move into a community that devotes a lot of money to amenities you won't use, that's expensive. I wouldn't buy into a complex with no amenities, but know what you're paying for.

Finally, I realize lots of people think paying any fee is a ridiculous use of money, but at my age with my health, I'm paying for outdoor maintenance no matter where I live. And right now, I'm a snowbird. For the first 5 years of this transient life I owned a private home as well as my condo. That private home - no where near any family - was a huge responsibility during the months I wasn't there. Selling it and taking a small apartment in the neighborhood was a great decision for me. It actually costs more each month than having the house, but being able to walk away and enjoy my winter in the sun - that's priceless!

Still, before moving into a condo or an HOA community, you need to know why you are paying those fees which are almost always more than owning elsewhere.

[terrier3]

On 7/12/2014 stilltamn8r said: Here in California it must be different...we pay our own utilities even internet....i water my own patio garden...its not like an apartment at all, ihave my own 2car garage, my own washer and dryer, pay my own property taxes, insure my own condo, etc....

There are a lot of new units going up with condo status that are actually single family homes. Those "patio homes" pay less in taxes (because they are on private streets with private plowing and maintenance.) Mail goes to one central location too.

Everything else is the owner's responsibility.

[Kindaglitzy]

Much good advice ready posted here which I 'll try not to repeat. I live in a high rise condo of three buildings. My condo fee includes all utilities except phone. Internet and cable are my responsibility. If we subscribe to cable we are restricted to one major carrier. I've been here 25 years and never had a special assessment which is highly unusual in similar complexes. The key is to have a good Board of Directors who employ a good Management Company or good General Manager. I could go on and on but will simply say stay involved, review budgets, attend home owner meetings, and know how your elected Board is spending your money.