Who pays $700/mo hoa?

Apr 24, 2021 30 Comments

Who the hell actually pays this much for condos in nyc, jersey and bay area? The mortgage payment+insurance of these 2 beds already exceeds $4k. Add more for car+insurance+parking. We're looking at burn rates of $5k just to sustain monthly life.

I guess I am just too poor 😿

What kind of income does one need to throw away so much? Do you or anyone you know pay so much for hoa? #mortgage #housing

TC: 250k

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TOP 30 Comments
  • I thought the same way until I bought my first single family house. I quickly learned that stuff usually coverer by such fees adds up pretty quickly. Landscaping, snow removal, trash removal, exterior maintenance, etc.

    I'm not saying that hoa is cheaper or w better deal, but it's not always as bad as it seems either.
    Apr 24, 2021 2
  • Amazon
    be furious

    Go to company page Amazon

    be furious
    Condo fees are for fools. Pay property taxes AND an exorbitant monthly fee! Better off renting unless you just get extremely lucky and hit the appreciation jackpot.
    Apr 24, 2021 6
    • Amazon
      random8/

      Go to company page Amazon

      random8/
      Yes but don’t have $1.5m+. Making money takes time and it’s not always bad to take smaller steps along the way to build up.
      Apr 24, 2021
    • Diversey
      xCHd17

      Diversey

      xCHd17
      Your condo appreciation can be wiped out by the fed with the stroke of a pen when they raise interest rates to fight the inflation caused by all this money printing.
      Apr 24, 2021
  • Diversey
    xCHd17

    Diversey

    xCHd17
    My TC is no where close to a lot of what I see people discussing on Blind but then, my mortgage is also less than what some of you are paying for an HOA!
    Apr 24, 2021 1
    • Google / Product
      godthisguy

      Go to company page Google Product

      PRE
      Twitter
      godthisguy
      This blind TC chase is not sustainable. It's stressful way to live and the new version of keeping up with the Joneses. Low TC and decent, comfortable life is good if you ask me. I went from 80k in FL in 2015 to 350k in SF in 2020. Life in FL was better.
      Apr 24, 2021
  • I’m in nova

    Condo high rise it self was a “great deal” at 300k

    My HOA was $.37 a sq ft paying 750 a month in 2016 there are 880 units total in my building

    Its now 827 a month

    Got 1946 sq ft

    I get a big pool with a lifeguard in the summer, landscaping, 24/7 receptionist, security guy doing rounds, 2 gyms, 4 saunas, 4 steam rooms, 2 banquet rooms, all my packages held and all the common areas are kept clean, vacuumed. Winter shoveling is taken care of, mats are laid out for rainy days.

    HOAs are great when you need them and a nightmare if you are “dealing” with them because they are a legit government that you really have no recourse with but to follow their rules

    They can enforce the 80/20 rule to keep the property values maintained, they can fine you if you don’t keep your property in line with the Jones’s

    I see alot of older couples here because they need the help they can get.
    Apr 24, 2021 0
  • Amazon
    uLjq33

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    uLjq33
    $700 is low for a lot of sky rises
    Apr 24, 2021 0