I’m currently in the later stages of closing on a Condo but am getting nervous regarding reviewing a the condominium’s budget and reserve plan. I’m not incredibly Finance savvy when it comes to numbers, what would be the smartest course of action for me when reviewing the resale package that includes the Condo budget and reserve plan?
I became concerned because the monthly Condo fees increased a substantial amount recently and the Reserve Funding Plan is advising a large increase yearly (from what I can tell, but maybe I’m missing something?)
Anyone able to offer guidance? Whether it be what I should be looking for or if there is a specific advisor I should be looking to? I assume my real estate agent would not specialize in this.