In general, a condo association's budget is based on information provided by the previous board, be that a group of unit owners or a developer. If for some reason that is not available, the best solution may be to contact a similar condo association in your area and ask if they could give you a copy of their budget. (Some condo associations regard this information as confidential; others don't.) For expensive items, such as oil or building insurance, you may want to call the oil company or insurance broker and get their advice.

The typical elements of a typical condo budget can be found here in this FAQ, but you will also have to consider how much of a reserve you want to maintain. We recommend building up a reserve. See the question at the start of this FAQ.