Wednesday, February 25, 2009

Mason Condo Market



There is an overabundance of condos on the market in Mason right now. There are 146 units for sale. The price range is $54,000 to $435,000. It is definitely a buyers market for condos.

One benefit to owning a condo is lower maintenance and no yard work!

But one drawback is the HOA or Homeowners Association monthly fees. These fees can be as little as $100 a month to $300 a month. That's in addition to your mortgage. These monthly fees usually cover outside maintenance of the unit and sometimes utilities are included. Each community is different.

A higher down payment may also be required from a lender if you plan to purchase a condo. New guidelines require a minimum of 10% down for a conventional loan. Talk to a qualified mortgage officer for details.

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