Colorado is actually in an insurance crisis with condos. Insurance costs are rising so quickly for condos (like actually 100%) that it is making HOA fees cost as much or more than the mortgage (or soon to be). My friends pay $900 in HOA fees and $1200 for their mortgage, for example. Their fees were $350 when they moved in. The cost of s…
Colorado is actually in an insurance crisis with condos. Insurance costs are rising so quickly for condos (like actually 100%) that it is making HOA fees cost as much or more than the mortgage (or soon to be). My friends pay $900 in HOA fees and $1200 for their mortgage, for example. Their fees were $350 when they moved in. The cost of selling the house will also be pretty steep! Though this suggestion could make sense, I’m just not sure it’s this simple.
Colorado is actually in an insurance crisis with condos. Insurance costs are rising so quickly for condos (like actually 100%) that it is making HOA fees cost as much or more than the mortgage (or soon to be). My friends pay $900 in HOA fees and $1200 for their mortgage, for example. Their fees were $350 when they moved in. The cost of selling the house will also be pretty steep! Though this suggestion could make sense, I’m just not sure it’s this simple.
Thanks for sharing the additional context - so interesting about the insurance rates!