Homeowner Association Dues Effecting Condo Sales in Danbury,CT Area

Homeowner association dues are often a sticking point when you are purchasing or selling your condo or townhome in the Greater Danbury area.

The higher the monthly dues get, typically the move difficult it becomes for owners these communities to sell. Buyers, especially first time buyers,  are wary of communities when the dues are considerly above the average for the area.  Not only are the buyers using a lot of their money to use as their down payment & to pay their closing costs, they will be owns paying their mortgage, property taxes, utilities and improvements as they see fit.

I have seen several townhome communities in the Danbury area where the homeowners association were already high increased, making the condo fees almost $425 a month. On top of that, like most communities, you have to pay your own heat, electricity, cable and internet.  I understand it takes to keep a place nice and do repairs, but it reaches a point where enough is enough.

As the fees get higher, it does limit the buyers qualifying power for the mortgage. I have seen several townhome communities in town where the fees become so high that these owners can drop their price substantially in order to move on.   Once one owner sells their home for X$, it becomes about what other homeowners can get for their home because their home has to appraise for buyers seeking financing.


Jonathan Hall ,Realtor, William Pitt Sotheby’s International Realty- (203)796-7700 | call or text me on my cell phone (203)417-0523
danburyrealestate@gmail.com
www.danburycthomes.com | www.danbury-condos.com