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this post was submitted on 04 Oct 2024
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Housing Bubble 2: Return of the Ugly
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Maybe close if the house is in an HOA. I sold my house a few years ago and bought a condo. It's definitely not the same as owning a house. It's not better or worse, it's just different.
I'm not sure why their insurance isn't paying for it.
In my state the sublimit on condo assessments is very low, maybe a couple thousand per year
What is sublimit?
So there are limits on major areas (the property itself, other structures like fences and sheds, lost rental income, etc.) And other more specific things like condo assessments. Generally you can't get a lot of money for condo assessments, unless you pay a lot extra to lift that limit higher.