A retiree who owns a single-family home in Flushing has compared the maintenance fees of nearby condo listings, common charges, and his own upkeep costs. After adding up the roof repair and boiler replacement costs, he found that there was not much difference from the condo fees. Here are the items to check in order.

First, property taxes. The effective tax rate for Queens County, where Flushing is located, is 0.85 percent. The median property tax bill is $7,796 per year, and the median home price is $1,076,000 (Ownwell). Although this is lower than New York State's average effective tax rate of 1.90 percent, the actual bill is higher than the New York State median of $5,420 due to the high home prices. The taxation methods for Class 1 single-family homes and Class 2 condos and co-ops in New York City differ, so even for similar price ranges, the bills can vary depending on the type of housing.

Second, heating and cooling costs. Con Edison supplies electricity to Flushing. With the rate increase approved in 2026, electricity rates have risen by an average of 3.5 percent, and gas by 4.4 percent. There are also areas in Flushing and Queens where gas is supplied by National Grid, and the expected gas bill for the winter of 2025-26 is projected to be $1,121, an 8 percent increase from the previous year. Single-family homes have larger heating areas, so residents will feel this increase more acutely.

Third, the composition of condo fees. Maintenance fees typically include the upkeep of the building's exterior, roof, and common heating systems. However, whether heating and hot water are included in the fees or if they are individually metered varies by building, so it is essential to check directly with the management office when viewing listings. Even if the fees seem low, a lack of reserves could lead to special assessments later, making it crucial to check the financial status.

Fourth, insurance premiums. Single-family homes must be covered by personal homeowner's insurance for the roof and exterior walls. Condos are covered by a master insurance policy for the entire building, so individuals only need to insure their interiors and personal liability. The older the single-family home, the more significant the difference in insurance premiums can be due to aging plumbing and electrical wiring, so it is advisable to get estimates in advance.

The speed of sales is also a factor to consider. Single-family homes tend to have a limited buyer pool, which can prolong the transaction process. Condos often have a broader buyer base, leading to quicker sales. If it's a co-op, the approval process from the management association can further extend the selling period. Including this difference in your financial planning can be practically helpful.

Fifth, senior exemptions. The Enhanced STAR program reduces school taxes for homeowners aged 65 and older. As of 2026, if one of the owners is 65 or older and their combined adjusted gross income is $110,750 or less, they can apply. Condo or co-op owners are also eligible. Since co-ops do not pay property taxes directly and the building's property tax is included in the maintenance fees, the exemption benefits are reflected in the maintenance bill. The process differs from condos, so it's essential to check with the management office in advance.

Sixth, school district assignments. Flushing has many areas with good ratings for elementary, middle, and high school districts, leading some families to maintain their homes for when children or grandchildren visit. However, school district boundaries change frequently, so it's advisable to verify the assigned school for the property address. If you plan for your grandchildren to stay during their school breaks after moving to a condo, choosing a condo in a good school district can also help maintain resale value.

In summary, the items to check are as follows:

• The current property tax bill of the home and the tax differences between Class 1 and Class 2
• The recent one-year increase in bills from Con Edison and National Grid
• The items included in the condo maintenance fees and the building's reserve status
• Eligibility for Enhanced STAR application

While the maintenance costs of single-family homes and condo fees may seem similar at first glance, the composition of the items differs. Property taxes and maintenance fees can vary by building and county, so this article is not investment or legal advice, and it is recommended to consult a professional before making any actual contracts.