Quote:
Originally Posted by saillias
If I could afford one of the single detached 2-story homes a block away I'd be in one, with no condo board.
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As a long time single family home owner, in many ways I'm running my own condo board of which I'm the only member and owner. Over the years I've levied many of my own special assessments from time to time: new roof, new furnaces, new siding etc.
My point is that many condo owners complain about assessments, and many prospective home owners complain that they don't want to own a condo because they don't want to pay fees because they don't see the value.
Regardless of the type of ownership, money is spent in one way or another. The benefit of a condo is that you either on a forced savings plan as part of the reserve fund, or part of a cooperative that shares unexpected costs.