Cheaper Condos Still May Not Be a Bargain
Be Wealthy & Smart
Linda P. Jones
4.8 • 883 Ratings
🗓️ 29 August 2025
⏱️ 7 minutes
🧾️ Download transcript
Summary
Discover why cheaper condos may still not be a bargain.
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Transcript
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| 0:00.0 | Be Wealthy and Smart, episode 1552. |
| 0:03.8 | I'm going to live the rich life, full than best life, yes life. |
| 0:11.0 | So if y'all know what I mean, put your hands up and declare with me, yeah, I'm full of bread, ha, eh, ha, ha. |
| 0:17.0 | I'm going to live a good life, beautiful and glorious life. step into a world. Step into a world of wealth and financial freedom without budgets, boredom, |
| 0:30.5 | or bosses on Be Wealthy and Smart. And now, here's your host, Linda P. Jones. Welcome to Be Wealthy and Smart. I'm Linda P. Jones, |
| 0:41.1 | America's wealth mentor, empowering women and men worldwide to financial freedom. On today's show, |
| 0:46.3 | we're going to talk about cheaper condos, but they still may not be a bargain. This is an article from |
| 0:52.5 | CNBC that was very interesting talking about price trends in |
| 0:56.3 | condominiums, but you have to take into account all of the expenses when comparing them to the |
| 1:02.1 | cost of owning a home. This was written by Mike Winters, and it says condo prices are falling, |
| 1:07.8 | but a bargain isn't guaranteed. It's all in the math. Condominium prices have |
| 1:12.4 | gotten cheaper in recent months, but that doesn't automatically make them a bargain. In July, |
| 1:17.7 | condos and co-ops in the U.S. sold for a median price of $349,186, down 2.1% from a year earlier, |
| 1:26.8 | according to Redfin's sales data. |
| 1:29.5 | Over the same period, the median price of a single-family home rose 1.4% to $466,396. |
| 1:38.8 | Redfin defines condos as individually owned units inside of multi-unit buildings, such as apartments. |
| 1:45.5 | With condos, buyers get ownership of their individual unit along with a share of the building's |
| 1:50.1 | common areas. Owners typically pay monthly dues to a homeowners association that manages |
| 1:55.3 | maintenance, insurance, and larger repairs of their building. While condo prices may be falling, there are usually a number |
| 2:02.2 | of hidden costs that buyers still have to pay. Rising HOA dues, insurance premiums, and new reserve |
| 2:09.3 | requirements are already discouraging buyers, and in many cases these higher costs are baked into |
| 2:14.9 | the lower sales prices, according to Redfin. Why are condo prices |
... |
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