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Condo Fees And HOA Why Are They Different

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

 

Questions about my properties are asked daily.

This morning a caller was comparing two of my condos. The prices were way different and the condo fees even more so. And it was not the more expensive condo that had the highest fees.

How to explain?

 First, you need to be familiar with all the options and what is included. One is a condo townhouse with over 1800' square feet in a gated community. The other is in a high rise building with a front desk person, doorman, underground garage parking and elevator... items that all need funding.

When someone wants to see one of my properties, I try to make sure they are aware of these extras. Some condo fees are higher for a reason...maybe they include utilities. When comparing the various

Home  Owner Associations and CONDO

possibilities, make sure you know what is included and what is not.

 One with a very low condo fee may have exorbitant utility bills. You can check any property, in our Baltimore area, for the monthly charges. 

Gas or Electric usage is available by calling 800-685-0123.

 

BGE

 

 

 

Good idea to check several in the same building for comparison. A condo may be vacant or the owner may winter out of state and have low winter usage.

 

Have questions about a Baltimore Condo or HOA home

Please call Margaret Rome

 

 

Margaret Rome

Posted by

Margaret Rome
HomeRome Realty
Broker/Owner/Realtor®

Baltimore, Maryland


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Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

This is an excellent post to help condo buyers understand the reasons why HOA fees can vary, Margaret.

Jan 21, 2019 01:55 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

CONGRATULATIONS Margaret, on having this blog FEATURED in the Old Farts Club group!  

Jan 21, 2019 01:57 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

 

With so many different condos and HOAs, there are no two alike. Thanks, Myrl Jeffcoat for the feature in OFG. You are the best!

Jan 21, 2019 09:30 AM
Elyse Berman, PA
LoKation Real Estate - Boca Raton, FL
Boca Raton FL (561) 716-7824

Margaret Rome, Baltimore Maryland You bring up an important point.  Condo fees and HOA fees tend to run higher by the number of amenities they offer, as you say, the number of people needed to staff the premises.  What factors into it here is how close you are to the ocean.  The buildings need additional insurance, which raises your condo fees.

You are right again to check these fees and what is included.  You need to know what you are buying.  (You just gave me an idea for a blog! )  in Florida, the state gives condo buyers a 3 day right of recission on resales after they have been provided ALL the condo docs, including a question and answer sheet.  

Jan 22, 2019 02:44 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Elyse Berman Allways good comments from you. And this one could be the start of another stand-alone blog.

In Maryland, our condos have a 7-day recision and our HOA a 5-day recision.

 

Jan 22, 2019 10:45 AM