Trying to see wether to buy a condo, a house or just rent an apartment. Id like a condo but the future HOA fees kind of scare me, I'd like to house hack as well, but I do prefer my alone time.
Accountant · TN · Member since 2025 · 144 posts · 91 votes
1y
Good afternoon,
There are pros and cons to condominiums and renting apartments. The challenge with condo fees are they can go up regularly, and oftentimes the property owners have minimal control over it. Then there are special assessments that can be added above and beyond the condo fees, and again property owners have minimal control over it. As such you really need to consider not just mortgage payments and escrow, but also current and anticipated condo fees. You might also ask if there are any current or anticipated special assessments coming up.
