Quote:
Originally Posted by MichaelB
Do you really think someone would buy a condo and not figure in the condo fees? That would seem to be quite irresponsible on the part of the buyer/seller/bank/etc. I don;t think that is reality of folks who would be looking to buy in the highrise/and/or/condo market. I would have to put that in the realm of "common knowledge"..... perhaps not to someone who has never considered living in a condo.... but it would be a quick reality to anyone who has.
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In my condo experience, I've found that the condo fees save me money because of the services included in the fees. For example, 360 fees include high speed internet service, cable TV, and building insurance, which reduces your condo insurance costs to almost nothing.
Regardless, the HOA fees are not something that is hidden prior to moving in. You know about them before buying. One thing that does often happen with new buildings is that the builder's estimated HOA budget is lower than reality, and the HOA fees end up increasing after the first year of operation. I think this will happen at 360. 360's budget is missing a lot of small items that add up quickly, such as window washing.