What are some housing costs?

Question

When I look at condos I always see something that says there is association fees and it says they are like $300 per month or more. What are these for? And do all houses and condos have them?

Answer 1

Most large complexes or housing developments have them...these fees are for the upkeep of the common area and other misc costs...Must be a pretty nice condo

Answer 2

They paint the exterior of the condo every 7 years.  Replace the fences every 15 years.  Pays for the pool chemicals. Pays to repave the parking lot.  Pays for the insurance to rebuild the condo in case of fire.  Pays for garbage pickup.   Kiss your money goodbye. /

Answer 3

association fees are fees paid to a company who takes care of the maintenance of the grounds and buildings.

Like I own a condo and my fees are $200 a month- this pays for security, the trash, the water, for the pool, the landscaping people, and so on.

Not all houses have them, but if you buy a house in one of those new areas that take care of stuff for you then yes it will have it.

Answer 4

Most condos have them.  It helps to cover the cost of outside maintenance, etc (most condos will mow the lawn, do landscaping and so forth).  If you're looking at buying a house, you won't have those fees.