Showing and marketing Condos

For American condo buyers, key issues include rapidly rising HOA fees (due to high insurance/maintenance), stricter regulations post-Surfside, lower demand from remote work affecting urban units, less privacy, potential for special assessments, slow price growth, and concerns about long-term investment value. Buyers face a tougher market with high costs, complex rules, and market shifts, though it’s currently a strong buyers’ market in many areas due to low demand.

• Rising HOA Fees: Higher insurance premiums and maintenance costs are driving HOA fees up, making ownership less affordable.
• Special Assessments: Unexpected fees for major repairs can significantly increase costs.
• High Mortgage Rates: Combined with fees, high rates squeeze budgets, says Redfin.
• Insurance Issues: Increased risk from natural disasters raises insurance costs, especially for coastal properties, notes MSN. 

• Remote Work Impact: Less desire for dense urban living reduces demand for city condos, according to Redfin.
• Oversupply: More sellers than buyers have created a buyers’ market, with properties sitting longer.
• Price Stagnation: Long-term price growth has slowed, making some question condos as smart investments. 

• New Regulations: Post-Surfside collapse, states like Florida have stricter inspections and reserve funding rules, adding complexity and cost.
• Building Safety: Buyers worry about aging infrastructure and maintenance, evidenced by the Surfside disaster. 

• Less Privacy/Freedom: Condos offer less privacy and control over exterior changes compared to single-family homes.
• Delinquency Risk: A few non-paying neighbors can raise costs for all residents.
• Association Bylaws: Strict rules on pets, rentals, and exterior modifications can limit freedom.