“Perhaps you can help settle an argument. I want to buy a nice condo in a safe area, but my husband wants a house, even if it’s a little dump in a slummy area. He says he’d never buy a condo because they just keep jacking up the fees and the fees are a waste of money. Do you advise buying houses over condos?”
Answer:
This “they” that your husband says “keep jacking up the fees” are actually fellow homeowners on the Homeowner’s Association Board. They don’t profit if fees go up. They pay them just like you, so they’re motivated to keep them as low as possible.
And of course, depending on the development, HOA fees benefit you by paying for your common areas, hot water, trash pick-up, exterior maintenance including roofs, cable TV, etc.
I don’t have blanket advice for clients of choosing a house over a condo, or vice-versa. The choice of a house or a condo is a personal one.
