4 Comment

  • The monthly maintenance fee is 1/3 again more than the estimated P&I?

  • @barks I was questioning the maintenance fee as well. That’s quite a bit per square foot, especially since they have filled in the pool that was once in the courtyard. The HOA must be really short in its reserve accounts and trying to make up for it, or they have some major maintenance projects planned on the common areas. I took a quick glance at some other listings in the area, and even TH’s with area pools (which have high insurance premiums) were only $0.19-0.26/sq ft for the fees.
    One thing to keep in mind, though, is that most condos associations carry building replacement coverage on their insurance in the event a fire takes down the whole building. This happened in a complex where I was once an owner. The owners only had to replace personal belongings. Contrastly, the neighboring TH complex, also involved in the same fire, was not covered in the same way. Each owner was responsible for replacement of his/her portion of the building. As you would imagine, this definitely effects the cost of premiums.
    Having stated all that, I sill think it’s a bit high. I wish there was a unit for sale in my former complex to compare to. It was the same age and number of units.

  • Ok, so I finally figured out how to look up recent sales from my old condo complex. *sigh* Anyway, the maintenance fees there, with the expensive pool insurance and all, is still only around $0.25/sq ft. Substantially less than this listing.

  • I would imagine the fee includes electric / water.