Quote:
Originally Posted by crewer
My interest in a 1 bedroom condo here in DC went from high to zero when my realtor told me the condo fees were $1,300 a month. That was high because of all of the special assessments, but honestly, $400 a month on one bedroom units is not unusual here in DC, particularly in highrises close to downtown. It's the reality of "convenient downtown living". Guess Austin is falling in line.
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Those special assessments are almost always the result of bad management of the HOA in the past (not setting aside money for roof replacement based on expected remaining life, for instance). If you're buying a condo in an existing complex, you absolutely must get a detailed financial report first to avoid that kind of stuff - especially if the current fee seems low next to comparables.
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