Guides / The cost of owning
HOA and condo fees
What they cover, why they rise and special assessments.
Homeowners association fees pay for shared costs. They often rise over time, and associations can charge special assessments for big projects.
Know what you get
- Which costs the fee covers: exterior, landscaping, amenities, insurance, some utilities
- How healthy the reserve fund is
- Any planned big projects
Budget for
- Yearly increases
- A cushion for possible special assessments
- Fines and fees for late payment
General educational information. Costs vary by home and location. Better Home Budget isn't paid by any lender, insurer or contractor.