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Why Are Condo HOA Fees So High?
I moved into a new home that’s part of an HOA, and the fees are insanely high. What makes HOA fees so expensive? Do they get you anything?
Patrick Price · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
The benefits that come with membership in your HOA depend on the terms of your specific HOA—no two are the same. There are, however, some general tendencies regarding why condo HOA fees are so high.
For instance, a homeowner’s association typically pools the money collected from its members and uses it to pay for utilities, maintenance needs, assorted amenities, repairs, and additions for all the HOA members—so you won’t have to worry about those expenses.
Some HOAs also handle property management and taxes for their members. Additionally, HOA membership boosts the property value of your condo.
Take a look at your HOA agreement and see the benefits of your membership—you’ll likely see that you’re getting more than your money’s worth, even with how high your condo fees are.
You can save money on your condo’s home insurance and help compensate for those steep HOA fees. The easiest way to save money on your
homeowners insurance
is by downloading and using the free Jerry
app.Jerry is a
fully-licensed insurance broker
and a great policy comparison resource. App users save an average of $800+ each year! View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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