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The Condominium Choice

Home Owners Dues

Why Would I Want To Pay Home Owner Dues?

Condo dues are often sited as the evil of condominium ownership. Why would I want to throw all that money away every month on dues? I may as well be paying rent . . . right? Wrong! Whether you own a condominium, house, or townhouse, you will be paying your hard earned money toward many of the same things. The difference is that with a condo, you're paying it in one lump sum to the association rather than several payments to different parties. Let's look at some examples:

1. If you own a house or townhouse you will need to buy home owners insurance. This is a separate cost to you that you will have to set up and manage. If you own a condo, this is all taken care of through the association and paid for with your dues.
2. If your house uses gas heating, cooking, fireplace etc., you will need to set up an account with the gas company and pay the bill separate. Many condos include the gas in the homeowners dues.
3. With a house you will need to set up an account for water, sewer and garbage. With a condo this is almost always included in the monthly dues.
4. If you own a house and want earthquake insurance you will have to purchase it separately. Most condos include earthquake insurance in the dues.
5. If you own a house and want cable tv, you must open your own account and again pay another monthly bill. Many condos include basic cable in the dues.
6. Let's say you own a house and need the gutters cleaned, the roof cleaned, the leaves raked, and the weeds pulled and the lawn mowed. You can either do it yourself, or pay someone to come in a do it on a regular basis. If you own a condo, this has already been paid for by the association from your dues.
7. If you buy a condo with a work-out facility, you may choose to dump your gym membership and use the building excercise room.

So as you can see, monthly dues come with just about any type of home you own. The difference with a condominium is that you are paying one bill, instead of several. Either way, you are going to have to pay. The amount of dues you pay to the association vary widely, but they will vary according to the items that are being covered by the association.

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