The courtyard at The Enclave of Hillsboro Village is half the size of a football field.

The urban condominium in Nashville, Tenn., features a clubhouse, fitness center and Internet cafe, not to mention a wine cellar with private bottle storage. A concierge will feed the dog when owners are out of town and help haul groceries to residents' suites. Security cameras, on-site personnel and guarded gates provide a home-safe-home feeling.

Living the high life comes at a cost.

Condominium association fees, generally priced per square foot, finance insurance and high-end services that new developments offer. This includes the sleek pool you may or may not use, the manicured grounds and all that infrastructure you never see. And the 24-hour front desk — the staff doesn't work for free.

But many who invest in condominiums have a greater priority in mind: convenience and location. Compared to the cost of owning a house, the monthly association fees seem worth it.

"If they are typical buyers, they are happy to pay the fees," says Jane Anderson, an agent with Village Real Estate.

Lisa Byrd traded the maintenance responsibilities on her three-bedroom house for an 1,880-square-foot Enclave condo with conveniences she's willing to pay $290 a month for: the concierge, common areas and camaraderie. She figures it's a deal.

"I always owned homes," says Byrd, 50. "I'm at the point in my life where I want a different lifestyle."

Condo fees are based on unit size: the more space you buy, the bigger your bill. And, of course, "the more amenities, the higher the price per square foot," says Scott Troxel, an agent with Keller Williams Realty. "But a lot of times, those amenities are why buyers go into a particular development."

Many buyers understand before they apply for a loan that a mortgage isn't their only monthly payment. But fees can work against buyers who are squeezing their budgets to purchase in a desired building.

"Lenders take those fees into account when they approve someone for a mortgage," Troxel says. "It's tough when the property a condo buyer wants is at their price limit, and the association fee can really push them out (of a deal)."

While a condo fee is predictable, the word "assessment" makes condo owners cringe.

When a building faces major repairs and does not have the money in reserves to cover them, the association board votes on whether to enact an assessment. Basically, this is a bill for services, and the tab for individual owners can easily push five figures.

"You could have a pool with a crack in it, or wood siding on the exterior that is termite-infested," Anderson says. "Assessments can range from $1,000 to $15,000 for the year, per homeowner, depending on the degree and severity of the repair."

Generally, the association board presents payment options; owners aren't expected to write a check for the lump sum.

"People who have lived in the building for the lifetime of the development understand what it costs to maintain a structure," she says. "But for the new buyer who just bought within the year, and all of a sudden they are faced with an assessment, the cost is surprising."

New condo owners can avoid the "shock" that Anderson describes by getting governing documents and budgets before purchase.

It's also critical to find out how much a building has in its reserves. Usually, owners pay two months worth of fees upon move-in, and this money is invested in the reserves, which acts as a savings account for the condominium.

"These reserves are invested, and in a best-case scenario, the money builds up over time and is available for exterior repairs," Anderson says.

Older buildings are more likely to pull from their reserves to finance upkeep. And smaller developments bear a greater burden, dividing assessment sums by fewer units.

But for the most part, especially in new buildings, condo fees do not increase each year.

"If you buy into a larger development, it lessens the financial burden to individual homeowners," Anderson says.

As more developments crop up in downtown cores, the urban locations draw more condo buyers, Troxel says.

"Some people have owned homes in the past, and they are tired of dealing with landscaping and exterior maintenance," he says. This includes single professionals who travel and single parents who do not have time.

The purchaser must decide what is more cost-effective: paying a monthly condo fee or maintaining a house. Troxel figures the cost of maintaining the four-bedroom home he's owned for 15 years — including repairs, utilities and lawn care — easily equals most condo fees.

Of course, buyers must decide whether they would take advantage of building amenities.

"If you never use a pool and you don't want to pay for someone else to, that's something to consider," Troxel points out.