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Old 10-10-2018, 05:26 AM
 
11,610 posts, read 10,431,928 times
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Quote:
Originally Posted by ExMathMajor View Post
Typically, yes. However...two places I looked at in Shaker Towers charged $850/month (lower floor) and $1200/month (upper floor) HOA fees. That sounds insane to me. If that's not, please enlighten me...

My friend bought her Van Aken condo for a price in the low $100s. Her HOA fee is somewhere around $300. There are condos in the area that are priced similarly but I'm seeing more that are priced like those in Shaker Towers.
Those are very high condo fees unless they also include major capital expenditures, such as elevator replacement (many hundreds of thousands of dollars), HVAC, roof replacement, etc. Just ask! Condos often take out loans for major projects and bill owners over several years to pay off the loans. Individual homeowners also can occur major upkeep/replacement expenses.

My point is that utility fees that are included in HOA fees would cost more if paid individually by homeowners given the higher HVAC efficiency of high rises (lower external wall/floor space ratios; stacked units).

So what matters are condo fees ex utilities.

Some high end condos do have some extraordinary expenses -- concierge service, 24/7 security staff, etc.
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Old 10-10-2018, 07:25 AM
 
Location: CA
1,009 posts, read 1,147,230 times
Reputation: 788
Solid points on capital improvements. The condo I bought...the building replaced all the windows (large) and builded the owners. I was lucky that the unit I bought included the assessment. I was not going to buy and then add another fee per month. READ carefully when units are for sale. Some do say, "assessment fee" and you need to know what that is.
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Old 10-10-2018, 11:11 AM
 
Location: New Mexico via Ohio via Indiana
1,796 posts, read 2,230,813 times
Reputation: 2940
My god I wish it was 2008 again, and that I had a whole bunch of cash.
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Old 10-12-2018, 11:57 AM
 
Location: Lakewood
8 posts, read 6,977 times
Reputation: 15
Default Re: HOA Fees for one bedroom condo at Edgewater Towers

Quote:
Originally Posted by RottenChester View Post
Anyone know how much the HOA fees are for a one bedroom condo at Edgewater Towers?
The one condo that's currently contingent on the MLS has HOA Fees of $485/mo but it's a 2 bedroom. Typically, the HOA fee difference between on and two bedroom condos is minimal, maybe $50 at most.


Here's the listing for reference: https://neohrex.mlsmatrix.com/Matrix...?ID=4735592127
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