Q. I am a first-time home buyer. I was looking to buy a condo for $167,000, until I discovered there was a special assessment for $13,000. I don’t know what this is for. Is it paid through my monthly fees I pay? Would I be buying a money pit?

–Miami

A. Special assessments aren’t part of the monthly fees that you pay to your condo association. Fees can vary, depending on the amenities that are offered, but usually cover the insurance on the buildings and land, plus the project’s regular maintenance. Depending on the amenities offered, they also could cover lawn mowing, street cleaning, streetlights, care of community pools and tennis courts and even—in one Florida community I recently visited—a pickle ball court (which combines elements of badminton and tennis).  Read More……