Last week I posted about identifying your space needs (Man Cave) and whether a condo or single family home is right for you.
We often get asked at Marshes Light what the difference in costs are between condo ownership and single family home ownership. Here’s a partial list of some of the items/fees associated with the different types of ownership:
- Master Association (at Marshes Light everyone is a member of the Master Association)
- Condominium Association (only Condo owners belong to this Association and the fee covers items 4 & 5 below)
- Property Taxes (due on single family homes and condos)
- Insurance (HO-3 policy, wind and flood)
- Exterior maintenance & reserves
- Utilities
- Condominium contents insurance
After doing a comparison on the two ownership types at Marshes Light, we found that the difference in cost comes down to about $60.00 more per month for the condo than single family home. For more information about Marshes Light, visit www.marsheslight.com.
