Melina Smith
Local. Curated. In the Know.
Inside the Valley
Should You Buy a Condo or Wait for a House? The 2025 Guide for Arizona Buyers
What to Know About HOAs Before Buying a Condo in Arizona
If you’ve ever scrolled past the fine print on an HOA, you’re not alone. But in Arizona — skipping this step can cost you more than you think. You’re not just buying a home, you’re buying into the rules, fees, and financial health of the building’s management.
1. Look Beyond the Monthly Fee
Arizona HOA fees average around $448/month, but that’s just the starting point. Fees vary based on location, amenities, and the size of the reserve fund. Low monthly dues might look appealing now, but if the HOA isn’t saving enough for repairs, you could be hit with unexpected special assessments down the line.
2. Check the HOA’s Financials
Request the budget, reserve study, and recent meeting minutes. Is the HOA well-funded? Are there complaints about mismanagement? Lenders may even deny financing if an HOA’s finances raise red flags — so this isn’t optional.
3. Understand the Rules (And The Red Tape)
From pet limits to rental restrictions and even what you can put on your patio, some HOAs in Arizona are known for being overly strict. This matters if you plan to Airbnb, renovate, or just live comfortably. Always review the CC&Rs (Covenants, Conditions & Restrictions) before making an offer.
4. Know the Community Reputation
A well-run HOA means fewer headaches and a better resale value. But if there’s ongoing litigation, resident disputes, or bad board management, that can affect your lifestyle and your investment. Do a quick Google search, check local Facebook groups, or ask me — I usually know the tea.
Pros of Buying a Condo in Arizona
1. Lower Entry Price Point
Condos are generally more affordable than single-family homes in the same location. That means you can get into homeownership sooner without stretching your budget.
2. Less Maintenance
No yardwork, no exterior repairs. Most condo HOAs cover landscaping, exterior painting, roof, and even some utilities.
3. Amenities & Location Perks
Many Arizona condos are located in walkable neighborhoods or near downtown cores — plus, you’ll often get access to a pool, gym, or shared rooftop deck.
4. Great for Lock-and-Leave Lifestyle
Condos are ideal for snowbirds, travel lovers, or anyone who wants a low-maintenance, secure home base.
5. Investment Potential
Some condos can be rented out seasonally or long-term, depending on HOA rules. It’s a great stepping stone into real estate investing.
Cons of Buying a Condo
1. Monthly HOA Dues
Expect $200–$600+/month depending on the building. These aren’t optional and can go up with time.
2. Less Privacy
You’ll share walls, ceilings, and/or floors. Noise and space can be an issue, especially if you’re coming from a detached home.
3. HOA Rules
Renovations, rentals, even pet ownership might be restricted. Always read the CC&Rs before buying.
4. Appreciation May Be Slower
While condos appreciate, they may not grow in value as quickly as single-family homes, especially in hot zip codes.
What About Waiting for a House?
If your dream is a yard, more space, and no shared walls — and you have time to save and wait — that might be the move.
But waiting also means:
Rising prices could outpace your savings
Interest rates may shift
Inventory could tighten again
Sometimes, starting with a condo gets your foot in the door so you can build equity, then level up later.
There’s no one-size-fits-all. What matters is how the property fits your life — and your 3-year plan. If you’re not sure where to start, I’d love to walk you through options and numbers.
Want help comparing condos to homes in today’s market? Let’s talk.
