Yes. Condo fees can change when insurance, maintenance, staffing, utilities, reserves, repairs, or regulatory requirements change. An association may also levy a special assessment if regular income and reserves are insufficient. Before buying, compare several years of budgets and fees, read recent meeting minutes, identify major completed and planned projects, and review reserve information. Ask specifically about pending insurance renewals, engineering work, litigation, and assessment discussions. Your decision should consider the unit price plus the building's financial condition and likely total monthly cost.
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