Thursday, September 23, 2010

Ridiculous Condo Fees

What's up with $400, $500 and $600/month condo fees? Are you kidding me?

I know that service costs, insurance, etc go up but I'm not convinced that the fees are justified.

If it were a luxury building with all the fancy shmancy amenities then, I understand. But I'm seeing this in 10-20 year old buildings that don't even have manned security!

Typically, condo fees at this price include: building insurance, exterior maintenance, heat, hydro, water and basic cable t.v. If you split all those out you don't even come close to $500/month. Heck, basic cable is only $35/month!!!

Wondering how high these fees can go. $1000/month??? Somebody better check in on who's on the condo board and what they're doing to keep the fees reasonable.

The price of these condo units may be reasonable from a purchase point of view but good luck carrying them!

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