Sometimes I wish more folks realized that “low dues” can be a red flag, not just a selling point.
Couldn’t agree more with this. I’ve had clients get really excited about low HOA dues, only to find out later that the building was basically running on fumes. One couple I worked with thought they were getting a steal—dues were half what other places in the area charged. Turns out, the board hadn’t raised fees in years and just kept kicking the can down the road on repairs. Six months after closing, boom: $8k special assessment per unit for roof work and plumbing issues nobody wanted to talk about.
Honestly, I’d rather see steady, reasonable dues and a healthy reserve fund than rock-bottom numbers that look good on a spreadsheet. It’s not always obvious from the listing or even the first walk-through. Digging into those meeting minutes is boring, but it’s where you’ll spot trouble brewing—like deferred maintenance or lawsuits. Low dues aren’t always a bargain; sometimes they’re just a ticking time bomb.
Low dues aren’t always a bargain; sometimes they’re just a ticking time bomb.
That’s the truth. I’ve seen “bargain” dues turn into nightmare assessments more than once. A few things I watch for:
- If the reserve fund looks thin, be suspicious. Too many boards just hope nothing breaks.
- Ask how often they actually inspect things like roofs and elevators. If the answer is “not sure,” that’s a bad sign.
- Sometimes dues are low because amenities are nonexistent, but other times it’s just wishful thinking.
Honestly, boring as it is, reading those HOA docs saved me from a mess years back. The board was fighting over whether to fix the plumbing or “wait and see.” Guess who got stuck with the bill?
Couldn’t agree more about the “bargain” dues being risky. I almost bought into a place with super low fees, but when I dug into the docs, turns out they hadn’t done a roof inspection in years. No way I’m gambling my savings on that kind of neglect. I’d rather pay a little more upfront than get blindsided by a giant special assessment down the road.
That’s spot on. I once toured a condo with dues so low I thought they’d left out a digit. Turns out, the landscaping was basically “nature’s wild plan,” and the pool had been closed for years because nobody wanted to pay for repairs. I get wanting to save money, but I’d rather not have my roof caving in just to keep an extra $50 a month. Sometimes those “deals” are just ticking time bombs...
Sometimes those “deals” are just ticking time bombs...
That’s exactly what I ran into during my search. I toured a place with super low HOA dues and thought I’d found a hidden gem. But when I started asking questions, it turned out the building hadn’t done any major maintenance in years. The elevator was “scheduled” for repairs, but there was no reserve fund to cover it. The board was basically hoping nothing big would break.
I get wanting to keep costs down, but I’d rather pay a bit more each month and know the basics are covered. It’s easy to look at the monthly dues and think you’re saving, but deferred maintenance always catches up. Sometimes it’s not even about the amenities—just making sure the roof, plumbing, and common areas aren’t falling apart.
Honestly, I’d rather have a slightly higher monthly payment than get hit with a massive special assessment down the line. Those “cheap” dues can end up costing way more in the long run.
