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Condo Fees And HOA Why Are They Different

 

Questions about my properties are asked daily.

This morning a caller was comparing two of my condos. The prices were way different and the condo fees even more so. And it was not the more expensive condo that had the highest fees.

How to explain?

 First, you need to be familiar with all the options and what is included. One is a condo townhouse with over 1800' square feet in a gated community. The other is in a high rise building with a front desk person, doorman, underground garage parking and elevator... items that all need funding.

When someone wants to see one of my properties, I try to make sure they are aware of these extras. Some condo fees are higher for a reason...maybe they include utilities. When comparing the various

Home  Owner Associations and CONDO

possibilities, make sure you know what is included and what is not.

 One with a very low condo fee may have exorbitant utility bills. You can check any property, in our Baltimore area, for the monthly charges. 

Gas or Electric usage is available by calling 800-685-0123.

 

BGE

 

 

 

Good idea to check several in the same building for comparison. A condo may be vacant or the owner may winter out of state and have low winter usage.

 

Have questions about a Baltimore Condo or HOA home

Please call Margaret Rome

 

 

Margaret Rome

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Sell Your Home With Margaret Rome

Broker-Owner HomeRome Realty 

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Author of Real Estate the Rome Way

mrome@HomeRome.com

410.530.2400

 

 
Comment balloon 5 commentsMargaret Rome, Baltimore Maryland • January 20 2019 04:12PM

Comments

This is an excellent post to help condo buyers understand the reasons why HOA fees can vary, Margaret.

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) 4 months ago

CONGRATULATIONS Margaret, on having this blog FEATURED in the Old Farts Club group!  

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) 4 months ago

 

With so many different condos and HOAs, there are no two alike. Thanks, Myrl Jeffcoat for the feature in OFG. You are the best!

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

Margaret Rome, Baltimore Maryland You bring up an important point.  Condo fees and HOA fees tend to run higher by the number of amenities they offer, as you say, the number of people needed to staff the premises.  What factors into it here is how close you are to the ocean.  The buildings need additional insurance, which raises your condo fees.

You are right again to check these fees and what is included.  You need to know what you are buying.  (You just gave me an idea for a blog! )  in Florida, the state gives condo buyers a 3 day right of recission on resales after they have been provided ALL the condo docs, including a question and answer sheet.  

Posted by Elyse Berman, PA, Boca Raton FL (561) 716-7824 CRS, ABR, GRI,ePR (Best Connections Realty, Inc.) 4 months ago

Elyse Berman Allways good comments from you. And this one could be the start of another stand-alone blog.

In Maryland, our condos have a 7-day recision and our HOA a 5-day recision.

 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 4 months ago

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