Condo Fees

[BleedsGreen]

Condo Fees: Who has them and how much to you hate them? I am maybe considering a condo but the fees have me on the fence as I know they will go up each year. I am awaiting a discloser to see what this condo fees have actually been over the past 7 years so I can get an average of the annual increases. Was wondering what others who pay them thought about it. This condo has a boat slip with electric and fresh water (no added fee), a swimming pool (that was closed all year last year do to COVID) they take care of all outside maintenance, decks (recently replaced), stairs, roof, siding and all general grounds for snow removal and lawn care. I believe that is all that is covered, everything else is on the owner.

 

[curious2garden]

If you grow at home do they allow that in the community? If any smell escapes the HO can come after you. I would not buy a condo for those reasons and more. Good luck.

 

[raratt]

If you grow at home do they allow that in the community? If any smell escapes the HO can come after you. I would not buy a condo for those reasons and more. Good luck.

I wouldn't buy where they have HOA's either, if I want to cut down a tree or plant something in my yard I don't want to jump through hoops to satisfy whatever inane rules they have.

 

[Laughing Grass]

Our condo fees are $.59 per square foot which is a little below the city average. I hate them, but I hate shovelling snow and mowing lawns more.

You need more than just the fees over the past seven years. What's the reserve fund's health? What percentage of your monthly fees go into reserve? What major projects have drawn from the reserve fund in the past five years? What is the occupancy rate? One major storm in an underfunded reserve will end up costing you a levy. That's wasted money that will never pay a return.