Yes — when you own a condo, you usually make monthly payments, but what you pay for depends on your situation:
- Mortgage payment – If you financed your condo with a loan, you’ll pay your lender monthly (just like a house).
- Condo association (HOA) fees – These cover shared expenses like building maintenance, landscaping, insurance for common areas, and sometimes amenities like a pool or gym.
- Utilities – Depending on the condo, some utilities (like water, trash, or gas) may be included in your HOA fees, while others (like electricity or internet) you pay separately.
- Property taxes and insurance – You may pay these directly or through your mortgage escrow.
✅ In short: Yes, expect a monthly bill — usually a mix of mortgage, HOA fees, and some utilities.