You might not always get the full cost deducted from the purchase price but you should at least get 50 percent. Never accept that the asking price has already been reduced to reflect the full devaluation of needed repairs. There is a tendency to overlook some of this when appraising a property. Condominium Fees Condominiums will typically require that you pay a monthly maintenance, or condominium fee. This fee and what it covers should appear on the fact sheet provided by the agent.
Some fees cover all utilities and services and others cover only certain ones.
Determine the value of the fee by comparing it to the cost of those same services and utilities if you were to pay for them directly. Condominiums that include utilities in their fee will cost you more than those in which the owners pay for their own utilities. That's because buildings with flat fee utilities have as much as 20 to 25-percent higher utility use than buildings where each unit is individually metered and billed. Also, ask when was the last fee increase and how much it was. Some buildings levy annual increases with no appreciable service improvement.