HOA Dues

January 10th, 2013

 

There are perks that come along with living in a condominium. While it is true that you will have less privacy sharing the building with other people, having the neighbors closer would make you feel more safe. Condominiums also have a 24 hour security (system or guard) which is always helpful. Some high-end condominiums also get to have extra amenities that a regular house might not have such as swimming pool, gym or tennis court, concierge, valet etc.

Homeowner’s Association dues are funds that are collected to be able to obtain the money needed to pay for master insurance and maintenance of common areas in the condominium. It is paid monthly. The charges vary from each association and depending on the needs to be taken care of.  These includes payment for cleaning of common areas, landscaping, security, water sewer, garbage disposal etc. The cost can be from $30- 500. Certainly a small price to pay for the hassle you wouldn’t be having while living in a condominium.

 

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