Quote:
Originally Posted by J-bo09
1) New developments tend to have no reserve budget and get hit with special assessments. Ex. I have been hit with a few thousand dollar assessments a couple times. Older buidlings have reserve budgets, but also have higher risk for things like roof/foundation repairs.
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Stuff breaks on a house too. The maintenance on a house is significantly higher, especially on something you want to sell in a few years. Family is especially good at shirking duties like painting fences or landscaping.... There is way more stuff to maintain on a house vs a condo.