Buying a condo in Los Angeles might seem like a great way to become a homeowner. With lower maintenance, prime locations, and a price tag that’s often more affordable than a single-family home, condos are an appealing option. But before you sign that contract, you need to know what you’re getting into.

In this post, your Los Angeles Realtor Scott Himelstein breaks down the biggest pros and cons of condo living in LA—covering HOA fees, special assessments, restrictions, and equity growth—to help you make the best decision for your future.

The Hidden Costs of HOA Fees

One of the biggest drawbacks of condo ownership is Homeowner Association (HOA) fees. These dues cover building maintenance, amenities, and insurance, but they can increase dramatically over time.

You may have heard about shocking HOA increases across the country. In some cases, fees have doubled or even tripled in just a few years. This is happening in Southern California, too, and the trend isn’t slowing down. Rising insurance costs, deferred maintenance, and stricter safety regulations are all pushing HOA fees higher.

And remember—you have no control over these costs. Even if your mortgage is fixed, your HOA fees can keep rising.

The Risk of Special Assessments

Beyond HOA fees, condo owners face special assessments—one-time fees charged when a building needs major repairs that the reserve fund can’t cover.

For example, if the building’s roof, plumbing, or foundation needs urgent work, the HOA can require all owners to pay thousands—or even tens of thousands—of dollars. In some cases, assessments have exceeded $100,000 per unit.

Older buildings, especially those from the ‘70s and ‘80s, are particularly vulnerable to these unexpected costs. And after the tragic Florida condo collapse in 2021, many states—including California—have increased safety regulations, leading to even more required repairs and rising assessments.

HOA Restrictions and Lack of Control

When you own a condo, your HOA dictates what you can and can’t do. Here are some common restrictions:

• Renovation approvals are required for even minor upgrades.
• Some buildings ban pets or enforce breed and weight restrictions.
• HOA rules might limit how you decorate your unit’s exterior—like hanging lights or flags.
• Renting out your unit may not be allowed or could be subject to restrictions.

For many homeowners, this lack of control is a dealbreaker. Unlike a single-family home, where you make all the decisions, condo living means you’re subject to HOA rules.

Privacy and Noise Issues

Another challenge with condos is noise and privacy. Many buildings have thin walls and floors, meaning you’ll likely hear your neighbors’ music, conversations, or footsteps.

Outdoor spaces like balconies and patios also offer little privacy since neighbors are often just a few feet away. If peace and quiet are important to you, a condo might not be the best fit.

Condo Appreciation vs. Single-Family Homes

Condos typically appreciate slower than single-family homes. Why? Because condos don’t include land ownership, which is the most valuable part of real estate.

For example, during the pandemic, single-family home prices in LA rose by about 35%, while condo prices only increased half as much. And when it’s time to sell, condos can be harder to move—many buyers prefer single-family homes to avoid HOA fees and restrictions.

When a Condo Might Be the Right Choice

Despite the risks, condos do have some advantages:

• Affordability – Condos cost less than single-family homes, making homeownership more accessible.
• Prime locations – Many condos are in high-demand neighborhoods near shopping, entertainment, and jobs.
• Lower maintenance – HOA covers exterior maintenance, landscaping, and common area repairs.
• Amenities & security – Many buildings offer pools, gyms, rooftop decks, and concierge services.

A condo in Los Angeles might be a good fit if you value affordability, convenience, and low maintenance. But if you’re looking for long-term appreciation, privacy, and financial stability, a single-family home might be the better choice.