I’m a single mom paid off a condo HOA $609 should I keep it?

If your condo is paid off, keeping it could make sense if the $609 HOA fee, taxes and insurance comfortably fit your budget. Before deciding, I’d also check the association’s finances and whether any large special assessments are coming. If those costs are becoming a burden, selling may be the better option.

You have plenty of "it depends" answers already, so let me give you the actual homework that settles it. First, the number that matters. Your condo is paid off, but it is not free. At $609 a month you are paying about $7,300 a year in HOA dues before taxes and insurance. The question is what that money buys you. Sometimes $609 covers water, trash, exterior insurance, roof, and amenities, and it is honestly fair. Sometimes it is an aging building quietly billing its problems to the owners. So pull three documents from your HOA: - The reserve study. This says whether the association has saved enough for the roof, elevators, paving, and pipes. Underfunded reserves are how owners get hit with surprise special assessments of five figures. - The last year of board meeting minutes. This is where upcoming assessments, lawsuits, and insurance problems show up long before they become official. - The budget, to see how fast dues have been rising. $609 that grows 8 percent a year is a very different animal than $609 that has been flat. If the building is healthy: a paid-off home as a single mom is an enormous advantage. Stability for your kids, no landlord, no mortgage. I would be slow to give that up without a concrete plan for where the equity goes next, because whatever you move to (rent or a mortgage at today's rates) will likely cost more per month than your dues, taxes, and insurance do now. If the building is shaky, or the dues are climbing fast: that changes the math, and selling while the building still shows well can be the smart move. I am a real estate professional in Los Angeles' South Bay, not a financial advisor, and this is exactly the analysis a good local agent can run with you for free. If you want, I am happy to connect you with a strong Dallas agent from my network. Zoltan

If your condo is **paid off**, you're in a strong financial position. Whether you should keep it depends on your goals, not just the $609 monthly HOA fee. Ask yourself: * Can you comfortably afford the HOA and other ownership costs? * Is the condo meeting your family's needs? * Has the property been appreciating in value? * Would selling help you achieve a more important financial goal, such as buying a different home or reducing expenses? If the HOA is becoming a financial burden, it may be worth exploring your options. Before making a decision, have a local Realtor prepare a market analysis so you can compare the benefits of keeping the condo versus selling it. That way, you'll be making an informed decision based on your equity and the current market.

Whether you should keep your condo depends less on the fact that it’s paid off and more on your monthly cost, stability, and how it fits your life as a single mom. If the only major housing cost is the $609 HOA and you can comfortably afford taxes, insurance, utilities, and any maintenance without stress, keeping it can be a strong move because a paid off condo gives you stability and protects you from rising rent. However, if the HOA fee plus other costs still stretch your budget, or if the HOA has strict rules, special assessments, or ongoing increases that feel unpredictable, selling could free up cash and reduce stress. A good way to decide is to compare your total monthly housing cost against what it would cost to rent something similar and also consider your long term plan, like whether you want stability for several years or flexibility to move.

Having a paid-off condo is already a strong financial position, especially in today’s market where many people are struggling with high mortgage payments and rising rent costs. The bigger question is whether the condo still works for your lifestyle and long-term financial goals. Even though the HOA fee is high, you also have to compare it to what it would cost to rent or buy something else right now. I always tell homeowners to look at the full monthly picture, including taxes, insurance, maintenance, utilities, and how stable their housing situation feels overall. If the condo is in a good location, manageable financially, and gives you stability, there can be a lot of value in keeping it, especially as a single parent. On the other hand, if the HOA fees are becoming stressful or the property no longer fits your needs, it may be worth exploring other options. For me, owning a paid-off property gives you flexibility and security that a lot of people wish they had. I wouldn’t rush into selling without carefully comparing what your next housing situation would realistically cost.

That depends on what you want to do and whether the HOA fee fits your budget long-term. $609 a month is high, so make sure you know what it covers and if it's worth it. If you're happy there and can afford it, keep it. Owning it outright with no mortgage is a huge advantage. If the HOA fee is eating up too much of your income or you don't like the place, you could sell and buy something cheaper or with lower fees. Think about whether it works for you and your kid long-term. If it does, stay. If not, sell and find something better.

Whether you should keep the condo depends on your cash flow, stability needs, and long-term goals. If the $609 HOA, plus taxes, insurance, and upkeep comfortably fit your budget and you value having a stable home for you and your child, keeping it can be a strong option—especially since you already have equity and avoid rising rent. But if the total monthly cost is stretching you, limiting savings, or causing stress, selling could free up cash and give you flexibility as a single mom. A simple way to decide is: if living there still feels affordable, secure, and better than renting in your area, keep it; if it feels like a financial weight more than a benefit, it may be time to explore selling or downsizing. Do the comparison renting vs owning and make your decision.

It really comes down to your personal goals and what makes the most sense for your lifestyle and finances. Since your condo is paid off, you’re in a strong position — but that $609 HOA is definitely something to consider long term. A good next step would be to sit down with your realtor and lender to look at both scenarios: If you keep it: What are your total monthly costs (HOA, taxes, insurance), and does it still fit your budget and lifestyle? If you sell: How much equity would you walk away with, and what could that get you in today’s market? If you upgrade to a house: What would your new payment look like without an HOA (or with a lower one), and does that improve your quality of life? At the end of the day, it’s not just about the numbers — it’s about what works best for you and your family. Running the numbers side-by-side will give you a much clearer answer.

Hello You should reach out to a local real estate professional to get some free advice on what is the best option in your local market.

This would definitely be based on personal choice. On one hand, where can you find somewhere else to live at $609/month plus utilities? On the other hand, do you want to live in an HOA and or condo? You might be able to roll your equity into a single-family home but again, additional details would be required for us to make that determination. Best of luck with your situation. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Depends on the value of the condo itself. If you can purchase something else for about the same money and not have an HOA it could be worth doing. But remember there are costs with selling a house so you need to clearly understand the NET amount you will get if you sell.