“Impact Fees”: 28 Unexpected Homeownership Expenses That Often Catch People Off Guard

If you buy a home, especially a condo, that has shared amenities like a pool, garden, or gym, you’ll likely have to pay homeowners association (HOA) dues. These fees, usually paid monthly, go towards maintaining these common areas, covering things like pest control, snow removal, or gardening. HOA fees can hover around $250 but they can sometimes be as high as $1,000 or more. Also, be aware that you might face a one-time HOA transfer fee to cover administrative tasks when you buy the place.