Homeowners association (HOA) fees: for condos or homes in a planned development Emergency repairs and ongoing maintenance costs: A general rule for estimating these costs is to set aside at least 1% of your home's value every year for home maintenance. So, for a $270,000 house, that would...
Understanding your HOA fees is crucial when selling your condo, as potential buyers will want to know the property’s monthly or yearly costs. Be prepared forbuyers to ask questions about the fees. It costs money to live in the condo association. Buyers need to know what they are getting i...
Calculate how much house you can afford with our home affordability calculator. Factor in income, monthly debt and more to better understand your ideal loan amount.
0.15% + IVA (0.34% total) typically shared between buyer and seller) in Escrow fees commonly apply if you're going to use a third-party escrow. Other extra fees discussed above We made this calculator below to help our clients estimating how much they should expect to pay if they buy...
HOA fees can increase or decrease over time. In most cases, the board of directors reviews the community's needs, the total of the current fees and the size of the reserve fund to decide whether to raise or lower fees. The HOA's CC&R may outline rules for how much the fees can cha...
How much money do I plan to invest in rental properties? How many rentals do I plan to own? When do I plan to retire, and how much money will I need to cover my expenses?These questions will help you lay the benchmarks you need to focus on your end goal rather than any minor ...
How much does it cost to get a VA condo approval? There are fees associated with the VA condo approval process. These fees cover the cost of the VA’s review and processing of the application. The exact amount can vary based on the complexity of the condo project and the region. Typical...
Since these are both vital issues affecting condos, we have decided to wait until we have all the information before completing the new edition. This will make the new book much better and more relevant! Unfortunately, at the time of writing this post, we are still a few months away. We...
Condos can be a good option for rental property buyers and they are often located in desirable locations. Condos are usually less expensive than single-family homes, and they have fewer maintenance requirements. However, association dues and the potential for expensive special assessments are a risk...
As the name implies, a restrictive covenant is an agreement that restricts one of the parties in a contract from taking specific actions. For example, a restrictive covenant may limit how much public companies pay their shareholders individends. It may also place a cap on executive salaries. Fa...