Monthly Archives: June 2011

Luxury Condos for Sale – Look for the Hidden Costs

If you are looking for Luxury Condos for Sale in New York or even in Atlanta beware of hidden cots, because along with the purchase price there will be other costs to consider.

Mandatory fees

One thing that all luxury condos for sale have in common is that the condo owners must pay mandatory fees to the Homeowners’ Association.  These fees are required for any maintenance that the building may need and to cover any unexpected community expenses.

So don’t let the great features seduce you before you check with the Homeowners Association about what your fees will be each month, so that you will know that you can afford to purchase the condo.


Another very important matter to investigate is if the homeowners in the building are up-to-date with their maintenance fees. If they are not up to date, than the repair fund will be insufficient should any important repairs come up to be fixed.

Luxury Condos for Sale need to have a healthy Homeowners’ Association fund because other wise it will be impossible to arrange finances.

Public transport

Next on your list of questions should be whether the condo for sale is close to public transportation.  Not being close to transportation can have a negative impact on your life and this sometimes slips the mind of a prospective buyer.

If  you have your mind set to look in the Luxury Condos for Sale market in Manhattan and it is not located close to public transportation, that could be why the price is lower. You would be making up the difference in taxi cabs to get you around the city.

Positive aspects

Ok you have all the questions that you need to ask, and you know that you do not have to worry about any exterior or common area expenses and this will make your condo life that much nicer.

Less expensive

If you are in the market for something a little less expensive, New Jersey condos offer an attractive village lifestyle for many people who work in New York City, because commuting is easy.

Also, Jersey City condos, like most Luxury Condos for Sale in the current market are less expensive than single-family homes.  This means you get far more value for your money when you choose a luxury condo in New Jersey.

Better neighborhood 

Why would you want to pay $5 million for a New York town-house that is supposedly going cheap, because it’s located in a bad neighborhood. This way you can afford a nice neighborhood, great schools and still have a luxury condo.

If you are looking for breathtaking views, than look at the condos on the Hudson River and New York Bay.

Start packing

So start looking for your moving company, get your packing supplies and get ready to find the perfect home for you and your family.

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Posted by on June 23, 2011 in Uncategorized


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