Not all condo complexes charge association fees but the vast majority of them do. The size of the complex is usually the determinant is whether the community you are looking at has fees. Smaller complexes can get away with charging fees if the owner or owners just agree to fix things when they need repair.

The reason that condominium complexes have fees is to take care of the communal areas. Since each unit typically has a different owner, certain expenses need to be shared among the entire community. Condos typically have shared hallways which are often damaged when people move into or out of the complex. Instead of one owner having to pay the entire cost for painting repairs, the expense is split among all of the residences.

Fees Keep the Complex Tidy

Condo complexes often have pools or other amenities for the residents' enjoyment. The pool needs to be cleaned, which usually involves hiring a service to take care of the weekly maintenance. Upscale condo complexes may even have workout facilities that are shared. The cost and upkeep of the machines and facility is taken out of the fees paid by the residents.

One of the greatest benefits of condo living is the fact that you do not typically mow the grass. Fees are used to hire the lawn maintenance and landscaping crews that keep your complex looking beautiful. If something goes wrong or breaks inside of your condo you are responsible for fixing it. If your roof leaks, the condo complex generally pays to fix it and the money comes from the fees that all residents pay.

Your condo association dues also go to cover insurance policies on the buildings themselves. You have condo insurance on your unit but the association needs a master insurance policy on all of the buildings in your complex. Many see fees as just another annoying cost but they are put toward keeping your complex beautiful, which in turn keeps the value of your condo up. If fees were cut and your complex fell into disrepair, your unit would fall in value.

If you do not want to pay excess fees to live in a particular area, buy a home in another area. The great thing about living in a condo is the lack of exterior maintenance. You do not have to paint the outside of your residence year after year like you would in a house. Buying a condo is very similar to buying a home but with less yard work.

Maintenance Free Living

Condo complexes are great for people who are looking to retire and not have to do any of the maintenance around their home. When you are shopping for a condo, you should always ask the seller about the condo association. Find out if the seller had problems with the association and if they are moving because of the association. Keep in mind that the fees can be pretty high in some places, depending on the communal amenities offered, so figure that into the total monthly cost.

Condo complexes are a great alternative to a house in areas with very high property values. A condo can be a stepping stone to an expensive house if you get a good deal on your condo. Putting some work into your residence once you move into the complex is always a great idea to make your unit stand out if you want to sell and move into a move in the near future. If someone is looking to buy in your complex you need to make your place is better than the others available.

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