"Luxury Amenities: Buildings offering amenities like 24-hour concierge, valet parking, on-site superintendents, pools, gyms, and spas have significantly higher fees to cover the operational costs and staff salaries. Square Footage: Fees are often calculated based on the square footage of the unit, meaning larger units will have higher monthly dues. Building Age and Maintenance: Boston's older building stock often requires more maintenance, which can contribute to higher fees, even in non-luxury buildings."
"Included Services/Utilities: Fees typically cover common expenses such as master insurance, water/sewer, trash removal, and common area electricity. Some buildings also include heat and hot water for individual units, which can increase the fee but lower separate utility bills. Reserve Funds: A portion of the fee goes into a reserve fund for future capital improvements and major repairs (e.g., roof or facade work). Well-funded reserves help avoid large, unexpected special assessments."
Monthly fees for Boston high-rise condominiums commonly range from about $1,000 to over $3,000, with ultra-luxury buildings often charging more. Fee levels depend heavily on on-site amenities, staff-intensive services, and unit square footage. Older buildings often require higher maintenance spending, increasing common charges. Fees typically cover master insurance, water/sewer, trash removal, and common-area electricity; some buildings also include heat and hot water for individual units. A portion of fees funds reserves for capital improvements and major repairs, and well-funded reserves reduce the likelihood of special assessments. Full-service luxury high-rises often bill by square foot, commonly $0.75 to $2.00 per square foot, while the median monthly fee across all Boston condos was around $414 as of late 2024.
Read at Boston Condos For Sale Ford Realty
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