People often ask why Boston condo association dues are so high when they should be asking what the dues cover. Here is a list of things that can make condo or townhouse association dues high.
1. Condo/townhouse is in a historic building (i.e Beacon Hill). Older buildings need more maintenance.
2. The dues pay for heating, cooling, and electricity.
3. Instead of putting huge assessments on each unit for special projects the association raises dues so they have the money needed for a project.
The best way to decide if the dues are too high is to list everything they cover and then figure out how much each of those items would cost for a detached home or a similar size. Some condo association dues include cable television and high-speed internet which can easily cost $100 a month.
Exterior maintenance is usually covered by dues. Roofs and siding are expensive. Lawn mowing and snow removal generally are not too expensive but not having to worry about either is priceless.
Before buying any downtown Boston real estate buyers should be aware that there are more costs associated with Boston condo ownership than a mortgage, taxes, and homeowners insurance. In fact, I know a Beacon Hill condo owner who spent an extra $1,500 this month to have some plumbing replaced.