So many times condos can be the perfect solution to someone who’s ready to buy, but can’t quiet get into a single family residence.  The insurance on condos should be less, since typically an owner doesn’t have to pay for exterior insurance.  Low maintenance can be terrific with all lawn work being provided by the home owners association (my husband and I will someday retire to a condo or townhome community).  And condos are generally just more affordable.

There is one little-bitty thing to be cautious of when you buy a condo, though.  HOA fees.  I’ve seen monthly fees for as little as $50 per month.  I’ve seen them for $300 per month.  In Arizona, one agent is reporting fees of $650 per month.  I’d say "EEK!" over that, as would other buyers who have the beejeezus cared out of them.  Other folks are none too pleased with what they get for their money. The Straight Scoop offers a mini discussion thread on HOA fees.  Though comments were posted in February, they still ring true.

Of course, condos aren’t the only ones facing association fees – here’s a good overview of what they pay for in other communities.