district
New Member
I am looking at assignments right now. I am trying to understand maintenance fees. I really prefer low maintenance fees. However, sometimes I just don’t understand how 2 condos in similar locations with similar amenities can have very big differences in their condo fees.
But, that’s not what I have a problem with. What I don’t understand is how one condo in a certain location can offer amenities almost identical to another building that is in the same location and have similar estimated maintenance fees before the condo is built. However, in the first few years, the maintenance fees can drastically increase in one building and not change much in the second building. I know that condos can have a different amount saved as a reserved in case something happens (building with bigger reserves might have higher condo fees) etc...
However, is there any ways to determine which condos might have a significant increase in the maintenance fees in the first few years (aside for the obvious where buildings offer a lot of amenities and have ridiculously low maintenance fees advertised when the unit is selling in preconstruction...just to attract buyers)? Is there a pattern with some builders having a steeper increase in maintenance fees than others?
But, that’s not what I have a problem with. What I don’t understand is how one condo in a certain location can offer amenities almost identical to another building that is in the same location and have similar estimated maintenance fees before the condo is built. However, in the first few years, the maintenance fees can drastically increase in one building and not change much in the second building. I know that condos can have a different amount saved as a reserved in case something happens (building with bigger reserves might have higher condo fees) etc...
However, is there any ways to determine which condos might have a significant increase in the maintenance fees in the first few years (aside for the obvious where buildings offer a lot of amenities and have ridiculously low maintenance fees advertised when the unit is selling in preconstruction...just to attract buyers)? Is there a pattern with some builders having a steeper increase in maintenance fees than others?