Common complaints about condos include association fees, assessments, noise and restrictions. Knowing these complaints beforehand may help potential buyers decide if condo living is right for them.Continue Reading
Association fees are an expensive part of owning a condominium. Paid at particular intervals, typically monthly, to the condo's homeowners association, the fees are used to maintain the buildings and grounds and to fund the amenities that the condominium offers. The association fees are not based on whether an owner uses a particular amenity, so some owners do not like paying for things they do not use.
Assessments are another financial obligation condo owners incur. They occur when a costly issue occurs involving the physical structure of the building or grounds that the association does not have enough money to cover. The association then assesses the owners to pay for repairs. This expensive surprise can hit at any time.
Noisy neighbors can be hard to handle, especially when the problem is ongoing. Living in close proximity to others means that noise, though unpleasant, is inevitable from time to time. Alternatively, owners must sometimes refrain from making noise that disturbs others and therefore do not feel free to enjoy their home as they wish.
Individual homeowners do not always agree with rules set by the homeowners association. Such rules may include everything from parking to patio furniture. Sometimes the association even decides when the units need updating at the owners' expense.Learn more about Real Estate