“We rent right now and can barely afford a house, so my wife and I were thinking condo. But I don’t want to pay those monthly association fees. They’re a waste of money. Are there any condos without fees?”
***ANSWER:
Sorry. With rare exception, buying a condo means you’ll be paying those pesky “HOA fees.” But here’s the good news…
They’re NOT a waste of your $150 to $350 per month ($700 or more for some luxury condos).
Most typically provide water, trash, insurance for the structure, and common area maintenance, including roof. Many also include pool, spa, rec room, tennis, cable, and security.
You’d have to pay for several of these items anyway if you bought a single family home. The others are nice perks you’ll enjoy for a fraction of the cost if you had them in your own home.
So keep an open mind.
