11-05-2018, 12:19 PM
(11-05-2018, 12:10 PM)danbrotherston Wrote:(11-05-2018, 11:46 AM)tomh009 Wrote: And many people don't realize that the condo fees on new buildings are rather optimistic, and are bound to go up.
But if you don't realize it, it looks like may $0.20/sqft extra in condo fees, that's $240/month or almost $3000/year. If people are looking at solely their payments, that may look like it's as expensive (in terms of total monthly payments) as a new unit priced $100K higher. And on top of that, many people still love "new".
I suspect most people also vastly underestimate the money they put into a house.
After accounting for utilities and insurance I used to pay at my house, my 750 dollar condo fees come down to about 450, and accounting for ONLY the money I put into the house and ignoring the hours and hours and hours of my own labor I put in, 450/month is a reasonable estimate of my monthly cost. Now I did have to put on a new roof, but I managed to avoid replacing a 30+ year old furnace. It's not a small bill to swallow, but the fact is, it isn't any bigger than a house would be, just more visible.
Do you not have to pay those in the condo too?