Buying your condo, townhouse, or house will likely be one of the biggest financial decisions you make. Some buyers don’t take into account HOA fees that are due every month. It’s an added expense that you should be prepared to pay in addition to your mortgage and property taxes. Your dues aren’t set in stone either – so they will fluctuate depending on projects and assessments. But what happens when the fees are sky-high? These are just a few of the consequences of an HOA that struggles to keep expenses under control.
1. Negative impact on sales of homes, townhouses, and condos in the community.
2. High dues = Money that could be used elsewhere
3. Could impact the sale of their home
4. Can’t keep up with the payments
Slimming down the HOA expenses without foregoing important projects can help lower your dues.
Want more tips? Download our 5 tips on reducing expenses.
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