The Shocking Homebuying Expenses No One Warns You About—Are You Prepared?

Ever wondered why owning a sweet condo with a pool, gym, or garden sometimes feels like signing up for an unexpected subscription you never asked for? Yep, I’m talking about those sneaky homeowners association fees that sneak into your mailbox every month like clockwork. They’re supposed to keep the shared spaces spick-and-span—think pest control, snow removal, and the occasional hedge trimming—but man, they can run anywhere from a modest couple hundred bucks to a brain-melting grand. And just when you think you’ve escaped, bam! A one-time HOA transfer fee pops up like an uninvited sequel. Buying a home? It’s not just about snagging the keys—it’s about budgeting for these hidden costs that can definitely cramp your style. Curious how deep this rabbit hole goes? LEARN MORE

If you buy a home, especially a condo, that has shared amenities like a pool, garden, or gym, you’ll likely have to pay homeowners association (HOA) dues. These fees, usually paid monthly, go towards maintaining these common areas, covering things like pest control, snow removal, or gardening. HOA fees can hover around $250 but they can sometimes be as high as $1,000 or more. Also, be aware that you might face a one-time HOA transfer fee to cover administrative tasks when you buy the place.