The Boston condo fees in various neighborhoods, and buildings have a wide range including a $10,000-plus/month fee at the Mandarin.
The Midtown area has the highest median condo fees in the city ($1,000 plus), which is no surprise when you think about the Ritz condos there, etc. Back Back and the Boston Seaport also have high condo fees.
Thinking about buying a Boston condo for sale
You’re thinking about buying a condo in downtown Boston, and the first thing on your checklist is loan preapproval. Along with mortgage payments and property taxes, your lender tells you that you need a rough idea of how much your downtown Boston condo fees will be. But you don’t know what you’ll be buying, so how are you supposed to know how much the fees will be?
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This is when it’s helpful to consult with your real estate agent, who can quickly estimate how much you can expect to pay in Boston condo dues based on the location and type of condo/building you want.
Boston condo dues are monthly fees in a condo association that typically cover your unit’s contribution to common area utilities, trash, water, interior/exterior building maintenance, property management and building insurance. Condo fees vary in cost depending on the size of the building and how many amenities are provided.
If you have your heart set on a smaller, self-managed building, the HOA dues will most likely be in the $400 range. However, if you’re aiming to move into a larger building with a door person, gym, and property management, dues will be in the $800-$1,000+.
Once you’ve figured out how much you can pay in condo dues, you can then achieve a very targeted condo search. Most condo listings include the monthly condo dues, so if $800 is too much, you can save time by skipping those properties and seeing the ones with more affordable dues.
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Updated: Boston Real Estate 2021