A condominium buyer will make monthly mortgage payments as well as pay a fee for services and maintenance of common areas.

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Condominium buyers are required to pay monthly mortgage payments just like any other property owner. Additionally, they are also responsible for paying a fee to the homeowners' association (HOA) for the maintenance of common areas and services such as landscaping, utilities, security, and property management. The amount of the monthly HOA fee varies depending on the size and location of the condominium development and the services that are provided.

A Condominium Buyer Will Make Monthly Mortgage Payments as Well