Not budgeting for condo fees
For retirees or seniors who want to eliminate the hassle of household chores and benefit from various amenities instead, condos seem like the perfect downsizing option. But nothing is free of charge and such perks can become quite expensive at the end of the day (or month in most cases).
The best way to stick to your financial plan is to know all costs and fees from the very beginning. Moreover, don’t get swept away by amenities such as a gym or a pool. You may never use them but nonetheless, end up paying hefty fees.
