CONDO, STRATA, CO-OP, AND HOA’S FEES EXPLAINED

Discusses the concept of monthly fees associated with condo, strata, co-op, and HOA (Homeowners Association) living. It explains that when buying into one of these communities, not only should one consider the social setting but also the costs involved. The post highlights that condo fees cover maintenance, landscaping, amenities, certain utilities, repairs, and insurance. It also mentions the inclusion of security fees, contributions to contingency or reserve funds, and the potential for special assessment fees in emergencies. The post concludes by emphasizing the variation of fees between different complexes, locations, and condo sizes, and the importance of considering these fees before purchasing a condo.