She was ready to buy her dream condo — but discovered the HOA had just 1% in cash reserves

A prospective condo buyer discovered the building's homeowners association maintained cash reserves equal to 1% of its annual budget before completing her purchase. Financial advisors typically recommend HOAs maintain reserves of 10% to 25% of their annual operating budget to cover unexpected repairs and maintenance. Low reserve levels can result in special assessments on unit owners to fund major repairs or replacements.

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