What is it that you get with a condominium?
Boston Condos for Sale
What is it that you get with a condominium?
Legally speaking, when you purchase a Boston condo for sale, you’re usually buying title to a subdivided, three-dimensional space within a “common interest development,” that doesn’t necessarily have to be connected to the ground, but the rules, restrictions and conditions that you agree to abide by when buying a condo do ‘run with the land,’ technically speaking.
A Boston condo ‘unit’ can be bought and sold, financed and bequeathed through a will or trust like a single-family house can be. Because of this flexibility and alienability, most lenders will lend on a condo purchase.
Boston Condominium Types
How Much Are the Monthly Dues?
The variation we see in Boston condo in monthly condo fees, which usually cover building insurance, trash, water and common area electricity at minimum.
For Boston condos for sale, you get for what you pay for because the more amenities there are the higher the monthly dues will be. Ultra-luxe buildings with lobby attendants, concierge services, valet parking, and more will command higher and higher fees — think the St. Regis, the Ritz , the Four Seasons, etc. Most costs are, of course, based on labor costs as having more people working means more money is needed.
The Biggest Line Items
What items drive up monthly assessment fees:
- People who provide those services (parking valet attendants, concierge services, door people)
- Pools/gyms/common area lounges (equipment, labor and extra insurance costs)
Business centers (office space, copiers, computers, supplies) - Common Heat or Water
- Renovations (common area maintenance, improvement, roofs)
- Reserve-building (big condo fess are required to do ‘reserve studies’ which will examine common area elements, materials and systems and their expected life expectancies and replacement costs to arrive to a monthly set-aside assessment to save up for these items)
Peace be with you
Where is Ford Realty Located?
Ford Realty is located in 137 Charles Street in Beacon Hill
Byline – John Ford – Boston Seaport Condo Broker.
Boston Seaport Condos for Sale 500k and above
Boston Seaport Condos for Sale 500k and above for Boston Seaport Condos for Sale in 2024.
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