Whether you should keep the condo depends on your cash flow, stability needs, and long-term goals. If the $609 HOA, plus taxes, insurance, and upkeep comfortably fit your budget and you value having a stable home for you and your child, keeping it can be a strong option—especially since you already have equity and avoid rising rent. But if the total monthly cost is stretching you, limiting savings, or causing stress, selling could free up cash and give you flexibility as a single mom. A simple way to decide is: if living there still feels affordable, secure, and better than renting in your area, keep it; if it feels like a financial weight more than a benefit, it may be time to explore selling or downsizing. Do the comparison renting vs owning and make your decision.
This would definitely be based on personal choice. On one hand, where can you find somewhere else to live at $609/month plus utilities? On the other hand, do you want to live in an HOA and or condo? You might be able to roll your equity into a single-family home but again, additional details would be required for us to make that determination. Best of luck with your situation.
Keith Jean-Pierre
Managing Principal
The Dapper Agents
Operations In: NY, NJ, FL & CA
That depends on what you want to do and whether the HOA fee fits your budget long-term. $609 a month is high, so make sure you know what it covers and if it's worth it.
If you're happy there and can afford it, keep it. Owning it outright with no mortgage is a huge advantage. If the HOA fee is eating up too much of your income or you don't like the place, you could sell and buy something cheaper or with lower fees.
Think about whether it works for you and your kid long-term. If it does, stay. If not, sell and find something better.
It really comes down to your personal goals and what makes the most sense for your lifestyle and finances.
Since your condo is paid off, you’re in a strong position — but that $609 HOA is definitely something to consider long term.
A good next step would be to sit down with your realtor and lender to look at both scenarios:
If you keep it: What are your total monthly costs (HOA, taxes, insurance), and does it still fit your budget and lifestyle?
If you sell: How much equity would you walk away with, and what could that get you in today’s market?
If you upgrade to a house: What would your new payment look like without an HOA (or with a lower one), and does that improve your quality of life?
At the end of the day, it’s not just about the numbers — it’s about what works best for you and your family. Running the numbers side-by-side will give you a much clearer answer.
Depends on the value of the condo itself. If you can purchase something else for about the same money and not have an HOA it could be worth doing. But remember there are costs with selling a house so you need to clearly understand the NET amount you will get if you sell.
