What is included in condo fees?

I understand when buying Condos and Townhomes you are expected to pay "condo fees" to live there. I was wondering what this covers?

I assume in a condo building (apartment) it will cover grounds upkeep and building maintenance but what about townhomes? Does it include basic utilities because I thought it was all separate. Do you also have to pay property taxes as if you were in a home?

Update:

Just in case this makes a large difference, I am a Canadian citizen and I'm purchasing my first home in Canada.

5 Answers

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  • Anonymous
    10 years ago
    Best Answer

    condo fees vary, so you need to ask. Normally they cover common electric, e.g. lighting for the exterior and hallways, property taxes for the common areas, exterior maintenance, which could include all or part of the exterior maintenance, and sometimes it covers all or part of your utilities...most commonly just your heat bill.

    You still pay property taxes on your unit.

    The problem as i see it is you have very little control over the maintenance fee, and if you are buying in an older building that could be die for a lot of maintenance, your HOA fee's could skyrocket.

    The good part about them is it is kind of like apartment living...you don't have to worry about doing any exterior maintenance yourself.

    Source(s): RE Broker
  • 5 years ago

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    RE What is included in condo fees?

    I understand when buying Condos and Townhomes you are expected to pay "condo fees" to live there. I was wondering what this covers? I assume in a condo building ...show more

  • ?
    Lv 7
    10 years ago

    You pay all bills for your own unit. The HOA fees are for maintenance and costs of operating common areas such as laundry room. Staff salaries and insurance for public areas.

    Be aware to ask how much money the condo has in reserves for major repairs and renovations

    New roof could cost you a 5k emergency bill which must be paid immediately.

  • 10 years ago

    Each condo will be different when it comes to the fees.

    You will have to ask about that specifically to find out the details.

    Usually the fee will include the items you listed...building maintenance and repairs. The more "luxuries" a condo has the higher the fees.

    http://www.lendingtree.com/smartborrower/buying-a-...

    http://www.ourfamilyplace.com/homebuyer/townhouse....

    Source(s): RE Agent-MI
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  • 3 years ago

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    RE :What is included in condo fees?

    I understand when buying Condos and Townhomes you are expected to pay "condo fees" to live there. I was wondering what this covers?

    I assume in a condo building (apartment) it will cover grounds upkeep and building maintenance but what about townhomes? Does it include basic utilities because I thought it was all separate. Do you also have to pay property taxes as if you were in a home?

    Update: Just in case this makes a large difference, I am a Canadian citizen and I'm purchasing my first home in Canada.

    Follow 4 answers

    Source(s): For Credit and finance solutions I always recommend this website where you can find all the solutions. http://personalcreditsolutions.info/index.html?src...
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