We're Interested In Buying A Condo But Why Are The Monthly Fees So High?
Since Cindy has sold a number of condos over the last few years she has found tools to help buyer's downsizing from larger homes to condos. The one she mentions in her post below helps with comparing the costs of home maintenance to condo fees. If you are looking to buy a condo in Northern Virginia remember to call Cindy Jones at 703-346-2213 to discuss your needs.
Dear Cindy,
Thanks for showing us your condo listings in Belmont Bay last weekend. We have been thinking over our options and are having an hard time grasping why the condo fees are $425 per month. Could you help us understand. We don't pay anywhere that amount of money to maintain our current home.
Thanks,John and Mary
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John and Mary,
Your concern about paying monthly condo fees is one I hear frequently from buyers looking to downsize to Belmont Bay. It is easy to look at the monthly fee and not be able to equate it to what you may spend to maintain your current home. There is a handy little tool you can play with that may help you put the condo fee in perspective.
Just for fun I input the basic information about your current home in the BrickBits.com estimator to come up with what your annual costs may be to maintain your current home. Below is a chart that shows an estimate of your current annual costs.
As you can see the projected annual costs exceed the monthly condo fee. Consider the condo fee covers your water, sewer, trash, recycling, exterior building maintenance, pest control and security to name a few major categories.
Hopefully this visual will help make it a bit easier to put the condo fee in perspective. Play with the numbers to see if they may be high or low for your home. If you have other questions please don't hesitate to call or stop by again this weekend on either Saturday or Sunday for our Harborside Condominium Open House.
Regards,Cindy
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If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones a call at 703-346-2213. No hassle, no pressure just straight talk about the local real estate market from a no nonsense point of view.
Check out www.varealestatetalk.com and www.cjrealtygroup.com for more information.
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