Looking at condos lately, anyone have advice on how to assess the maintenance fees of a place, if it is just ridiculous or what?
Not looking for a realtor or anything at this time, just browsing.
Was looking for a week-end/AirBnB place on the coast, the HOA’s are more than a monthly mortgage!
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Zillow will have that information.
Yeah Zillow or har usually post what the HOAs are. Then or get on the Google maps and see what country or area they’re in and then put HOA for that specific place. They usually have websites with all that information
Sorry y’all misunderstood, I know how to find what the fees are. I’m just trying to gauge if they are outrageous or reasonable beyond just considering my budget. If that makes sense.
Just know that they only go up. Also, each condo/townhome/etc. maintenance fees cover different things. Honestly, it’s a case by case situation.
I’ve had a coastal townhome for about 10 years, I want to say the maintenance fees started at $225 a month, today they are $330 a month.
The $330 covers green space maintenance, pool maintenance, use of the clubhouse and the water utility bill. The HOA also replaced all roofs, fences, siding and paint throughout those 10 years since Ive owned it.
Some HOAs don’t do any of those things and merely grant you the privilege to be there…
Houston?
Yes but could be in general too.
Midtown?
No, just anywhere in general.
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my son’s in midtown are $1800 yr. Covers water, trash, maintenance in the common area. It does not have a pool.
1800 sq ft approx 350k
We live in a gated, Country Club Community. Has a clubhouse, restaurant, swimming pool, 18 hole Golf Course, and other amenities.
HOA dues are $220 monthly. No condos. All single family homes with garages.
This is in a suburb of Tucson.
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What are property taxes like there? I hear they are really low.
Your budget will dictate your decision.
All you need to know is whether the HOA services in the community that you want to live in are worth it to you.
Condo HOA and fees aren’t usually a huge financial problem considering the cost of maintaining a home (pest -$400, lawn guy - $1000, pressure washing guy- $100.00, irrigation guy -$200, drainage guy - $400+, roof guy, gutter guy - $400.00, fence guy… I could probably find other guys, but I need to log in soon)
Condo HOA should cover water, sewage, basic internet and insurance for the property outside of your walls.
Condo maintenance could be cheaper than maintaining a home.
Beware of assessments!! Make sure there are no assessments pending. And research the budget reserves, this is where condo maintenance can get costly. Out of nowhere can come a $20k assessment that you have to pay along with everyone else for a project that you were not anticipating.
I trying to buy a second home “condo” in Florida right now. Condo and HOA fees are not the issue. It’s the interest rate even with 20/25 percent down, taxes and insurance. Cost more than my primary mortgage. Condo world ia crazy right now depending on where you are buying.
Home insurance in Florida will be expensive.
Property taxes in this area are less than 1% of Market Value.