Boston Real Estate for Sale

Byline – John Ford Boston Beacon Hill Condo Broker 137 Charles St. Boston, MA 02114

When buying a Boston condo view the condo fees

Boston Condos for Sale and Apartments for Rent


When buying a Boston condo view the condo fees

Condominium association (HOA) dues in downtown Boston are at record highs, making Boston condo for sale purchases harder for buyers already grappling with the highest interest rates we’ve seen in 20 years.

 Boston condo fees are at a record high

It’s no secret that Boston condo fees have been steadily rising, with a big uptick happening during the pandemic. Let’s face it, everyone working from home drove up operating costs like water use, property management, and of course, recycling all that cardboard and package material from deliveries. We can also more recently add escalating building insurance into the mix. Boston condo dues typically cover all these costs (and more). This is especially affecting in larger buildings, but even smaller ones are feeling the strain of keeping up with basic operating costs.

High Boston condo fees seriously drive up buyer’s monthly payments. 

How are Boston condo fees determined

It’s worth mentioning that property dues are also based on a unit’s square footage. Boston condo buyers looking for spacious condos in large buildings will be paying upwards of $1,000/month, and closer to $2,000/month for ultra-luxe buildings, especially if they’re newer construction. 

Granted, buyers in the luxury condominium price ranges may not be as sensitive to the condominium dues. But everyone is looking for a deal these days, and high monthly fees don’t convince buyers they’re getting a deal.

So how do we keep the Boston condo for sale market moving for properties that have high monthly dues? Here are some pro tips:

Boston Condo Buyers:

Factor in condominium dues when you get preapproved for a loan , and be realistic about the dues range based on the type of property and location you want. Watch out for additional monthly costs that may cover other amenities like parking. (Some condo buildings have separate parking HOAs that carry a fee in addition to the regular HOA dues.)  Work with your Realtor ahead of your property search to target buildings and neighborhoods with dues that will be affordable for you.

Boston Condo Sellers:

Consider sweetening the pot by crediting one or two years’ worth of condo fees to the buyer. That can help you stand out from the pack, particularly if your condo has been on the market for 30 days or more.

Updated: Boston condos for sale website 2023


 What do Boston condo fees cover?

Among the reasons condo fees vary from one Boston condo building to another are the size and age of the development as well as the amenities and features covered by the fee.

Large developments that pay a management company can have higher fees than a small self-managed building. However, splitting costs between just four or six units can mean condo fees are a bit higher than a building with 10 or 15 units.

Older condos often have higher fees than newer buildings because they need to factor in repair and replacement of common-area heating and air conditioning systems, an elevator or a surface parking lot.

When examining condo fees, it is important to realize you are not making a dollar-for-dollar comparison. While condo association fees typically cover a reserve fund for major repairs, a master insurance policy for the community, maintenance of the development and trash and snow removal, various other things may or may not be covered.

What is an appropriate Boston condo fee?

When comparing Boston condos, you will need to evaluate your budget and determine how much you can afford to pay in fees. Next, you will need to determine whether a low or high condo fee is justified by the condo’s condition and amenities.

A low fee may look good to you, but if it covers very little and is an older condo with deferred maintenance, you can expect to pay a higher fee or even a special assessment in the future. A high fee may seem unappealing, but if it pays for a lot of amenities and/or your utilities, it may be more affordable that you think.

Boston Real Estate and the Bottom Line

It is also important to remember that the association isn’t a “they” or a “them” it is you. you are the association.

For more information please contact one of our on-call agents at 617-595-3712.

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For more information please contact one of our on-call agents at 617-595-3712.

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