House only account, do you have one?
The seller of 8 Gala Lane is offering a seller concession-to pay the monthly condo fees in advance. ( Check with your lender.)
Most townhouses are not condos. Younger buyers tend to purchase townhomes where they can get more living space for less.
No condo fees for a year. How does that sound? Perfect for new buyers.
A savvy buyer could set up a separate “house only” account.
At the beginning of the month, the new owner deposits an amount equal to the condo fee into a private account. Label this account as “ house only''.
The habit and the fact of having the funds available for the following year grows.
Warning and discipline are needed. This is used for “the house” nothing else.
It’s nice to have a separate stash for the necessities of owning your home.
This suggestion is also for buyers while they are looking for that new home. Put your spare change to good use. When you resist an impulse purchase, add the savings to that
''house only account.''
Do you have tips to share with buyers?