Is a condo's $190 monthly fee still attractive when a roof assessment is being discussed?
Housing"The seller will cover it if it's approved before closing," the agent said. I asked what happened if the vote came the week after. She said we shouldn't lose a good condo over something that hadn't happened.
I'm considering a US condo priced at $230,000. Its monthly association fee is $190; a comparable unit I've viewed has a $425 fee. The lower-fee building has no pool or lift, so part of the difference seems understandable. Then the meeting minutes mentioned roof replacement options. A possible $9,000 contribution per unit appears in one estimate, but no assessment has been approved and I haven't received the reserve information.
After the down payment and estimated closing costs, I'd have about $11,500 left in accessible savings. That makes the timing of a potential $9,000 bill matter more than the fresh kitchen. The [Fannie Mae condo guide](https://yourhome.fanniemae.com/buy/buying-condo) specifically suggests asking about special assessments, reserves and the remaining life of major building components.
I don't want to assume a low fee means bad management; discussing a roof replacement could mean the board is taking maintenance seriously. How much information would I need before deciding whether this is affordable, rather than just affordable on the current monthly statement?