First time buyer has questions before purchasing a condominium in San Francisco
A reader asks:As a first time buyer I will be purchasing a condominium. As I go through these units what are the main items I should be concerned with? Some of the things that concern me are HOA dues, pet restrictions, storage and parking.
Our reply:
Concerning your expenses, you need to calculate the monthly (or quarterly or annual) HOA dues into your budget. They are not usually tax deductible and are in addition to your mortgage and tax payments.
Additionally, each condominium complex has its own Home Owner's Association. Each association has its own Covenants, Conditions and Restrictions (CC&Rs) which set forth the rules for the association. To match your lifestyle, knowing if a condominium allows pets, has storage and parking gives you the freedom to have it all!
- Kathleen Macdonald
posted by SFResidence.com @ 8:49 AM
1 Comments:
What is the "normal" range for HOA dues? (What is considered high and what is considered low?)
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