Monthly Condo Assessments Have Positive Side

T he dreaded monthly assessment scares off many first-time buyers.But they often could get more value by purchasing a condominiumrather than a single-family home.

Sometimes the concern is valid if the seller is hiding majormaintenance problems. But assuming the building is sound, theassessment pays maintenance expenses that the owner of an individualhome also would incur, and it buys a lot of desirable amenities thatthe typical residence does not provide.

The assessment is a monthly levy against the owner of acondominium to pay for costs such as security, recreational andhealth facilities, cable TV, insurance, maintenance of the commoninterior and exterior portions …