Quote:
Originally Posted by LuvtheVillages
When buying a condo, due diligence includes looking at the condo association's financial reports to be certain that there is a large reserve for future big maintenance items.
Many condo owners prefer low maintenance fees instead of having a sufficient reserve. But the day always comes that something big needs attention.
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Great post, when we looked at ocean front condos our first concern was age, last inspections and repairs. That was in the 2010, we looked at higher fees for maintenance budget so 20 plus years down the road there would be funds to offset major repairs. Some don't plan for major issues in retirement, that may someday cause you to return to working class