<p>Also, especially if the condo may be sold in the near future, don’t assume you will make any profit and you could well take a loss on the condo. Newer condos may be subject to construction defect lawsuits & their maintenance fees and litigation expenses are paid by guess who? Don’t necessarily assume you will make ANY profit on any resale down the road, depending on where you’re looking at purchasing, especially if you don’t have enough cushion financially to ride out further drops in the real estate markets (who knows).</p>
<p>I have always been astounded by mainentance fees and how they can get–look into what they are, how long they’ve been at that rate, any obvious improvements that are likely in the near future, etc. before deciding whether to buy any condo or townhouse or anything that will have you on the hook to share “common” expenses. Boards control what happens with condos & they can have factions and make it difficult for any particular individual to have what they think is most reasonable & prudent.</p>