For those who are eying a purchase of an apartment or condominium as your primary residence, the first thing usually taken into account is the total price of the establishment or the monthly mortgage you are required to pay. However, aside from this, it is also important to keep in mind that another additional fee that may be overlooked are the maintenance fees. While these don’t seem much compared to other figures, it can be quite of a burden depending on the type of building, or your preferred lifestyle.

Payments for preservation do not only dent your bank account but alter the property of the value as well because a building with higher maintenance fee is less likely to sell than those with more affordable prices. Moreover, those with low charges sell for more than the expensive units. This is especially true for investors short of cash who will frown upon extra costs per month on top of mortgage.

First off, if you choose a location that is well-known can also be pricey hence it would be more ideal to choose a less trendy area. Services is also a factor to consider since condos vary in terms of amenities. High end residences usually have more offerings as maintaining the lawn and pool area. Others offer extra services such as housekeeping and trash collection, which can be pocket draining as well. Given this, foregoing additional comforts especially those you wouldn’t need on a daily basis can trim down what you need to pay for the property.

Another thing to remember is your expenses in case something needs to be repaired or replaced in your unit. Be it chipped tiles or peeled paint, it will be up to you and your funds to compensate for it.

The best move to make if you want to save a bit of cash is to create a list of buildings you are interested in and compare their monthly charges plus offerings that is suitable to your needs and financial state. For example, if you are not really fond of swimming, you may pick something without a pool to save yourself from paying more for conveniences you won't even use.

In the end, it will all boil down on your preferred way of living. Frugal individuals will tend to acquire cheaper properties and will be able to sell them easier especially if it's located in a decent area. Meanwhile, those who want several amenities available are expected to end up compensating for more expenditures, although the added perks might make up for the costliness of the establishment.