If you're a new townhome buyer, you might be slightly confused as to why townhomes have maintenance fees. Well, let me explain!
What do Maintenance Fees Cover?
If you're looking at condo townhomes, you will have maintenance fees. The maintenance fee in these property types usually go towards servicing the complex in terms of snow removal, lawn care (cutting grass etc) and in some cases they will actually cover outdoor repairs (roof, windows, porch). If there is underground parking, maintenance fees will also cover the servicing of that as well. Every condo townhome community will cover different elements, and the maintenance fee is usually less expensive than one you'd see in a condo apartment.
For some buyers, this property type is a nice stepping stone into home ownership if you are moving from a condo apartment and want to do less maintenance on your home. While you pay a fee monthly, if you opt for a freehold townhome with no fee, the amount you will pay in outdoor maintenance usually surpasses the monthly maintenance fee you will pay in a condo townhome.
Point is, look into what the fees cover so that you can make a well informed decision!
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