Back Bay condos
What to Know about Condominium Fees
If you are considering a move to a Boston condo, you need to be aware of what the costs will include. When you first purchase your condo, you will have to pay a down payment, a mortgage, and property tax. In addition to these one-time costs, there will be condominium and special assessment fees.
What are Condominium Fees? Also referred to as maintenance fees, these fees are paid monthly by all condominium owners towards the maintenance and repair of common areas in the building, as well as salaries for groundskeepers, repairmen, and security guards. Set and managed by the condo association, they are typically determined based on the size of your unit.
Before you move into your new condominium, whether it is in prestigious Back Bay, or the architectural landmark neighborhood of Mission Hill, the amount of the fee will be disclosed to you, and you will have access to an itemized list to find out exactly where your dollars are going. While it may seem like an annoyance to have these monthly bills, they allow you to enjoy all the perks of your condo such as access to a swimming pool, tennis courts, and a beautiful lawn, without all the hard work that goes into keeping these amenities nice.
Make sure to tour your unit before buying: get an inspection done on the unit and the entire structure to identify any potential problems that will raise your fees. If the association has maintained the building repairs and maintenance requirements before they become big problems, your condo fees will most likely remain the same each month.
Special assessment fees may be requested when an unexpected repair or planned modification exceeds the cost of the condo fees that have already been collected. To determine if you will be likely to be required to pay these fees, find out if the association maintains a reserve of funds to pay for these unexpected and potentially expensive repairs.
Remember to contact an agent at Phoenix Realty when looking for your next condo or apartment in the greater Boston area.
Don’t Miss Boston Holiday Events!
If you have spent a holiday season in Boston before, you know how magical the city gets right around now. If not, you’re in for a treat! Starting in early December, you can almost taste the holiday spirit lingering around the streets! The street lights in Back Bay start to glitter with holiday lights, a huge Christmas tree is erected in Faneuil Hall and decorated with hundreds of ornaments, and Boston’s world class shopping and dining scene reflects the cheer and magic of the holidays! Whether you’ve lived in the same Boston apartment for years or are spending your first December here, we’ve compiled a list of the best Boston holiday traditions that will be happening this month that you’ll be sure to enjoy.
- The Nutcracker
November 26-December 31, The Boston Opera House
A must-see event for the whole family, Boston Ballet’s Nutcracker is a great annual holiday tradition. Come watch the well-loved story of Clara on her journey through a winter wonderland. - Downtown Crossing Holiday Market
November 27-December 24, Downtown Crossing
A brand new tradition, this market was a hit last December thanks to the roster of local artists, musicians, and designers selling jewelry, food, and other treats. - Harvard Square Holiday Craft Fairs
Weekends and some weekdays through December, Harvard Square
A much older holiday tradition (almost 25 years,) this Cambridge holiday market also showcases incredible local artists. - SOWA Holiday Market
December 11-12, Cathedral High School
Located in Boston’s South End, this holiday market is a slight variation of the popular Sowa Market. More than 80 local artists and designers will be featured. - Holiday Pops
December 4-26, Symphony Hall
This annual month-long holiday homage is an amazing experience; come hear the Boston Pops play your favorite Christmas tunes. - Candlelight Carols
December 19 (4 p.m.) and 20 (7 p.m.), Trinity Church
Come experience the choirs of Trinity Church in their annual presentation of holiday carols and anthems with a choral prelude of Benjamin Britten’s Ceremony of Carols. Make sure to come early to get a good seat!
Still looking for your dream Boston apartment? Get in touch with a Phoenix Realty agent to start the search!
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