Re:The housing market needs more condos
by pandaman on Sunday February 13, 2022 @12:15PM
(#30323358)
>Can't see why a condo inherently should appreciate less than a house?
People shop for monthly payment and not for the sticker price. On a condo the payment includes the HOA fee so for the same monthly payment you can get a more expensive house than a condo. As the property grows older and becomes more expensive to maintain, the HOA fees raise to reflect this and that reflects on the appreciation speed too.
People shop for monthly payment and not for the sticker price. On a condo the payment includes the HOA fee so for the same monthly payment you can get a more expensive house than a condo. As the property grows older and becomes more expensive to maintain, the HOA fees raise to reflect this and that reflects on the appreciation speed too.