Question Details

Robyn, Home Buyer in New Jersey

Townhomes - do you pay both maintenance fees and property taxes?

Asked by Robyn, New Jersey Fri Apr 3, 2009

I am looking into purchasing a townhome in Northern/Western New Jersey. I am a first time home buyer and not sure whether to look at small homes or a townhouse. My question is with a townhome do you pay both a montly maintenance/association fee in addition to property taxes? If so, how do I found out what the taxes are for such a townhome vs. a house? Does it depend on the size of the unit?

Help the community by answering this question:


Hi Robyn,

All of these questions can be answered by your Realtor. If you don't have
one, I suggest you find one you like by referral from a friend, in an open
house, or by calling a successful brokerage in your area.

Townhomes always have an association/monthly maintenance fee AND property taxes.
Property taxes are generally higher for larger units. Fees are often based upon size of the
unit as well. You will also need to pay insurance. The insurance for a house will cover
the entire property. Insurance for a condo will cover the interior. Your condo fees will
include insurance of all the common areas including the exterior of the buildings.

Your mortgage payment will be made up of PITI - oan Principle, Interest on the loan, Taxes
and Insurance.

Your agent will point out the taxes of homes and condos in the area you are shopping and
help compare the advantages and disadvantages of both.

I hope that helps,

Marita Topmiller
Assoc Broker/ Realtor
Indianapolis area
1 vote Thank Flag Link Fri Apr 3, 2009
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