If you’re purchasing a condo, remember to figure monthly condo fees into your budget. The monthly fees can range from $20 or so, to over $100, depending on the condo. The fees go to pay for security, maintenance, cleaning, and any other services that a property management company may be offering. How do you know how much condo fees will be? The first thing to do is request information from the developer. Get the name of the company, and get a rundown of the services it will provide, as well as a cost estimate. Also, get the condominium bylaws translated into English so you can review your obligations. Finally, use some common sense. Condominium projects with large common areas that include tennis courts, a spa, a swimming pool, or a children’s playground will tend to cost more. Twenty-four-hour security with multiple entrances can also be expensive. On the other hand, if costs are split between many neighbors, they can conceivably be quite reasonable. A development with tons of services and common areas and 150 condos might have lower monthly fees that a development with almost no common areas and services and only 10 condos. On the other hand, if you’re buying in the first stage of a large project, it might be a few years before you have many neighbors to help you with the fees. Be sure to clarify this with the developer before you sign on the dotted line.