/biz/ - Business & Finance

>>54837100
>>54837163
This

>>53533717
Yeah just don't buy downtown. You'll get absolutely reamed by HOAs. (picrel)

Value is in the neighborhoods, especially the gentrifying ones.

>>53046007
Retard.
>>53045933
$229 is actually fairly low. What you really need to avoid are the older (50s-90s) highrise construction near the loop. In those buildings you can see 4 and 5 figure MONTHLY HOAs. I have no idea why anyone would buy in that area when you're effectively renting the property you've already purchased.

My HOA is around the same - $249 for a 2 bedroom - but that pays for
>maintenance
>common area utilities
>landscaping in the summer
>snow removal in winter
>collective property taxes (building is a co-op, which significantly lowers my property tax bill)
>roof fund (builds up over a set number of years until a new roof is required)
>common area laundry (I have laundry in-unit but some units dont)
So it's honestly worth it.

>>52686134
I've seen worse

>>52663421
>I swear some of those condo complexes are built by HOA management companies.
I would push back on that in that the HOA is set by the board (all homeowners) and the building is an old, and I mean really old for US standards, prewar apartment building. There's a lot of maintenance/upkeep to be had.

The REAL killers are the larger condo buildings built in the 60s-80s closer to downtown with elevators. Those can have HOAs in the thousands.