Over the past few years, I was involved in the listing and sale of a newly constructed condominium project in the City of Excelsior, MN The big question for many of the prospects was "What are the Association Fees and what do they cover?" Hearing one monthly number always seemed to frighten them. I often said, Why don't you take your average monthly bills for all your utilities, maintenance, paint and repair of siding & roofing, seasonal landscape and snow removal, insurance, repairs, etc. and add them up?" They were often surprised that the cost of maintaining their homes on an average monthly basis was higher than the one bill they got to pay their Association Dues. This also didn't include in some cases the extra amenities in their buildings of a guest room, underground heated garages, an elevator, etc. It really isn't that scary. It's just another way of looking at the costs of home ownership, whether it may be a single family home or a condominium.
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