Condo Fee Calculator
True Housing Cost with Condo Fees
Calculate total monthly housing cost including condo fees
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Formula
Total Housing Cost = Mortgage + Condo Fee + Property Tax + Insurance + Special Assessment/12
Frequently Asked Questions
What is a typical condo fee?
Condo fees typically range from $200-$800 per month depending on the building amenities, age, location, and unit size. Luxury condos with extensive amenities (pool, gym, concierge) can exceed $1,000/month. Fees tend to increase 3-5% annually.
What do condo fees cover?
Condo fees typically cover building insurance, common area maintenance, landscaping, snow removal, water/sewer, trash, reserve fund contributions, and shared amenities (pool, gym, lobby). They usually do not cover your mortgage, unit insurance, or property taxes.
What is a special assessment?
A special assessment is an additional one-time charge to condo owners for major unexpected expenses or capital improvements not covered by the reserve fund. Examples include roof replacement, elevator repair, or facade work. They can range from hundreds to tens of thousands of dollars.
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