What fees can I expect to pay a home association?

Condominium owners pay a fee, usually monthly, to the homeowner?s association to cover the costs of managing and maintaining all common areas. In addition, you may pay extra assessments for major maintenance projects. In general these must be voted on by the association board or in some cases by all of the owners. The particular cost of monthly fees and the rules regarding special assessments vary from association to association. When considering a condominium, it?s a good idea to thoroughly research the fees and bylaws of the condo association.