Your Condo Fees

Please enter your estimated monthly and annual expenditures for the following items:

The section below calculates your total current monthly spend on the above items and determines how much of these expenses would typically be included in a full service condominium fee.

According to FNMA, homeowners typically spend 1% to 4% of their home's value annually on maintenance and repairs. Please enter your home's estimated value to calculate your expected range of annual maintenance costs.

Our calculations use 25% of the Federal National Mortgage Association (FNMA) estimated maintenance costs for condominiums, as condominium fees generally cover exterior maintenance, while owners remain responsible for certain interior expenses such as appliances and HVAC. In contrast, calculations for single-family homes reflect 100% of the FNMA estimates, as homeowners are responsible for all maintenance and repairs, both interior and exterior

This calculation estimates the total out-of-pocket monthly costs over a 10-year period for a single-family home vs. a full service condominium.

Based on your inputs, if you currently own a single-family home valued at , you are likely spending between and each year on property maintenance, utilities, insurance, and other recurring costs—in addition to your mortgage and property taxes. This means that your total annual homeownership costs are equivalent to owning a condominium with a condo fee of approximately per month, without experiencing any additional financial strain. In addition to these covered expenses, most condominium fees also include staffing, amenities, and reserve fund contributions, offering additional value beyond direct cost comparisons.

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