In buying a condo remember that your condo value is only as good as its association.  There are luxury student condo projects in town that offers amenities such as a car wash, fitness coordinator and activities planner.  This is, of course, during their original selling phase of the project.  What happens if the fitness coordinator goes away?  Is the car wash going to be working four years from now when you want to sell?  There is nothing in the documentations that describes services such as these and guarantees them long term.

What's the take away lesson in this?  Remember that with a condo project you only get one vote per unit.  If the fitness coordinators position is hingeing on a vote of all the owners to pay an extra $10 a month it might not pass.  Don't overpay for a project based on sunny views of what you might get.  Look carefully at the structure and figure out if the location and the structure itself is worth what you are paying.  Remember too that if many investors own units it might be very difficult to get them to pay an additional fee per month for an amenity that they won't even use.

Make your condo decisions with a clear head.