Hi Everyone, Toshiko again!
Here is a thing good to know related to real estate.
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Under current mortgage loan interest rate (around 5%), the $50 difference in a month
is equivalent to $10,000 in value.
$200/mo HOA of $300k condo increased to $350/mo 10 years later.
The difference $150 would affect the value of condo.
The difference $150 would affect the value of condo.
Under current mortgage loan interest rate (around 5%), the $50 difference in a month
is equivalent to $10,000 in value.
So, $150 is equivalent to $30,000 and will be cause of value decline.
So, the if market in general appreciate average 6% year,
$300k condo above will value at $30,000 less $207k.
HOA expense is not tax deductible,
It maybe profitable if property has no HOA.
Specially HOA covers many amenities you don't use.
It maybe profitable if property has no HOA.
Specially HOA covers many amenities you don't use.
