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Expected expenses of detached house vs condo fees: who ‘wins’ in the end? Just purely re minimizing expenses (not re which is better living arrangement), in the end which one would cost less? Not sure if there are studies done on this comparison.
Cost. As with all real estate costs, location determines the greatest portion of a condo or townhouse’s value, but there are many expenses to consider. HOA fees and what they cover should be taken into account, as should property taxes, any and all insurance expenses, and (especially in the case of a townhouse) home inspection
Condominium association fees also are affected by the location of the community. The old saying that the three most important things in real estate are "location, location, location" applies to.
When you own real estate, you need to consider the cost of maintaining the property. However, because you are only responsible for what occurs within the walls of your condo, the responsibility of maintaining everything outside those walls falls on the condo association.
This gets us to the next question, condo vs. apartment – which one is the best fit for you?. Long story short, no, the cost of renting a condo is usually similar to that of. However, when renting an apartment, you would have no HOA fees. demographic shifts, housing industry news, multifamily construction,
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Q: I got a great deal on a condo that the seller had bought at a foreclosure sale. Tim A: One of the most basic rules of real estate law is that you can only buy what a seller owns. When you buy a.
The first extra cost is the monthly HOA dues. The HOA collects monthly dues every month to assist with maintenance of the properties within the association.
The maintenance costs therefore, are much higher for an HOA in a condo development than they are for an HOA in a single-family home development. similarly, with a townhome, the HOA might have to maintain the exteriors of the buildings and the land around them, increasing its costs of maintenance.