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Today, we begin part one of a two-part series on condo fees. Many people are wondering what's going on with condo fees in the area, so we thought we should dedicate more time to discuss the topic.
Many people who are living in or looking at condos here in Sanibel can be surprised by the high prices of condos here compared to other places in the United States. What drives these high fees are things like insurance costs and building maintenance. Because this is a coastal area, things are a bit harder to maintain, as there is salt in the air and it's generally a more moist environment than other areas throughout the country. Plus the costs of windstorm and flood insurance for the exterior building and grounds are usually included.
Many people who are living in or looking at condos here in Sanibel can be surprised by the high prices of condos here compared to other places in the United States. What drives these high fees are things like insurance costs and building maintenance. Because this is a coastal area, things are a bit harder to maintain, as there is salt in the air and it's generally a more moist environment than other areas throughout the country. Plus the costs of windstorm and flood insurance for the exterior building and grounds are usually included.
On the low end, we see fees around $1,000 per quarter, but we've seen fees go as high as $5,800 per quarter for condos on our islands. We see such a large range of condo fees because there is a variation in what each condo provides. Some are beachfront properties, some have elevators, and some are interior condos, and the differences in amenities all result in differing maintenance costs. The number of units in a complex also plays a role - if you are in a complex with six other owners, you split maintenance six ways, whereas if you live in a large complex with hundreds of owners, you split it hundreds of ways.
As you can see, there are many things that contribute to condo fees in Sanibel and Captiva. In part two of this series, we'll discuss specifically what goes into those condo fees and what you're really getting for your money. If you have any real estate questions, or if you need assistance of any kind, don't hesitate to give us a call or shoot us a quick email. We would love to hear from you!
As you can see, there are many things that contribute to condo fees in Sanibel and Captiva. In part two of this series, we'll discuss specifically what goes into those condo fees and what you're really getting for your money. If you have any real estate questions, or if you need assistance of any kind, don't hesitate to give us a call or shoot us a quick email. We would love to hear from you!
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