Homeowners Association Fees. As you might imagine, that pool, fitness center, security system, and maintenance crew all cost money. And, that money is paid by you. When you buy a condo, you essentially become a business partner in that community. You pay a monthly fee each month (on top of your mortgage) which goes towards the upkeep of the property, as well as future investments (e.g. a playground addition or dog run). How much will you have to pay each month? HOA fees vary widely, depending on the location, size, and quality of your community, but plan on spending at least $300 a month in association fees. It’s not cheap.