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August 31, 2011

You could be Goof if you think elevators run on magic pixie dust….

Filed under: For Buyers,Of Interest to Buyers — Center City Philadelphia Real Estate Agent @ 3:07 pm

Do you HATE condo fees? You could be an Goof….
I hear buyers say “I don’t want to pay condo fees” all the time. Of course we all want our elevators to run on magic pixie dust, and we want our doormen to work for free. And I want
a new shiny Bentley in my driveway too. You get what you pay for. Period.
Here is the scoop:
In high rise condos, fees can appear to be excessive. But NO ONE is profiting from the fact that you pay condo fees. Fees can cover:
Doorman
Elevators
Utilities
Master Insurance Policy
Amenities (parking, pool, trash removal, water and sewer, etc).
I understand you may not want those services. Perfect….then a high rise condo isn’t for you. No problem. But I hear buyers say they don’t want to pay any condo fees- not even in a low rise condo. those buyers are seriously misguided. Low rise/Brownstone/Lofts style condos have minimal fees- and those fees are simply fees that you would have to pay if you lived in a SINGLE FAMILY TOWNHOUSE . Get it?
Like paying your own:
Master Insurance Policy
Exterior Repairs
Water
Sewer
Exterior Lighting
And putting some $$ away for a rainy day-which condo associations generally do

• • •

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