nsr is right, and those HOA fees are calculated too low to begin with — almost every new building has to increase them within the first year. Also, just think what those fees are going to look like when half the building is empty. And of course there are all sorts of weird maintenance issues that will crop up. In the last “luxury” condo building I lived in, my supposedly high-end neighbors started stealing lightbulbs from the common areas rather than pay to replace the ones in their own units. The rest of us of course had to pitch in to cover this…
