I Love Paying Condo Fees
After eighteen years of selling Philadelphia condominiums, I am still in awe of the common misinformation, unwarranted dislike, and general avoidance of two simple words in our English language: Condo Fees.You would think the two words were similar to perhaps a monster from the swamps who has come to eat you, and steal your car. Generally speaking, that is not the case. Most studies have found condo fees to be harmless.
In fact, I pay condo fees and I couldn’t be happier. These fees get me discounts on items such as a master insurance policy, yearly termite treatments, water service bills, and daily trash removal. These condo fees also help level out some costs like exterior painting, roof repairs, and snow removal. They also enable me to put a portion of the monthly fees aside, for Rainy Day types of building expenditures.
I don’t have to do any repairs to the outside of my building, and I can have a professional management company handle all the common bill paying issues….all for less than if I had to “go it alone” and pay for many similar items on my own.
So I am happy to pay condo fees. And NO, they are not tax deductible. Is your water bill, exterior lighting bill, or your cost to remove snow from your front sidewalk tax deductible? I didn’t think so….
So, if you love the idea paying condo fees like I do, and you are interested buying a Center City Loft or Condominium so you can start paying your own, give me a call at 215-521-1523 or send me an email at Mark@CenterCityCondos.com and I’d be happy to help you find your dream home (condo fees included)!
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106
My husband and I were looking at new construction single-family homes in South Jersey (Woolwich Township/Mullica Hill area) and discovered the developers are requiring a Homeowner’s Association. How long have builder’s been adding condo-like fees to single-family home communities? Is it common in other areas? For $40 a month (and based on condo-fee experience, I know it could go up), it doesn’t seem it would do anything for me as the homeowner. The builder said it covers landscaping for the exterior of the development, maintenance of basins and a playground. It’s not like my property taxes would be any cheaper. The cost doesn’t seem to fit the work suggested. I’d love to get your thoughts.
Comment by Stephanie — December 18, 2007 @ 11:17 am