Just like the spring flowers planted in our window boxes, Rego Park’s real estate market is blooming. People who never thought they would cross the Queensboro Bridge are captivated by Rego Park condos.
In Manhattan, five-star amenities are scarce and reserved for the wealthy. In Rego Park, the same top features are attainable for the average buyer, but they’re not free.
As you browse Rego Park condos, pay special attention to the HOA fee. The HOA fee is the amount of money you’ll pay per month in exchange for the convenience of living in a condo. This fee varies widely, and it’s not optional.
If you’re going to pay an HOA fee, you need to know what you’ll get in return. Here is a list of the line items that your HOA fee might cover:
- Common area maintenance: If the hallway carpet is ripped, the front steps are in disrepair or the stairway railing is broken, someone needs to repair it. Your HOA fee will help pay for on-site or as-needed maintenance staff.
- Lawn care: Landscaping and green spaces make Rego Park condos look more inviting, but who will take care of them? The HOA board might allocate part of your monthly fee to hire a professional to keep the grounds looking pretty.
- Large-scale repair jobs: Well-managed HOAs will put a portion of your monthly fee in a reserve account to cover unexpected repairs or capital improvements.
- Security: Many Rego Park condos offer intercoms, a staffed lobby or security cameras for residents’ protection. Your HOA fee might pay for this extra assurance. An important note: Security measures are a welcome amenity, but HOAs cannot guarantee your safety.
- Luxury amenity maintenance: If your building has a fitness center, children’s play area, pool or rooftop deck, your HOA fee will help maintain these features. The more luxury amenities your building offers, the more you’ll pay.
Even when you consider the HOA fee, Rego Park condos are a good value in a great neighborhood! Contact Rego Park Realty today to see what’s on the market.
Contact us today at (718) 997-6000 or email us here.