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We're considering buying in Brunswick Forest, Magnolia Greens or Waterford, and I have some concerns about the HOA fees. Previously we lived in a golf course community with an HOA so we appreciate what they offer in protecting a homeowner's investment. However, I have heard that Brunswick Forest may bill their residents for repairs needed in the community -in addition to the regular monthly HOA. Is this true? I've also heard BF is more prone to flooding than Magnolia Greens or Waterford. We want to buy in one of these communities, and are specifically interested in BF because it seems to provide more opportunities to meet new people. Yet, we need to pick a community that won't cramp our retirement budget with high insurance bills and/or unexpected fees from our HOA. Any comments?
While we don't live in any of the mentioned communities, we did visit them last fall. When we went to BF, it was during a torrential rainstorm which caused a great deal of flooding. However, to be fair, the area received something in the neighborhood of 11 or 12" of rain that day. We looked at the condos, they are beautiful. Our biggest issue is that they are well away from the final building they plan to do, and with the economy as it is, the worry is always that they won't be able to afford to finish the promised amenities. However, the community as it is now, is beautiful, the sales rep was very pleasant and very professional.
We actually stayed in Magnolia Green, in a condo. The villas were unappealing as they were just a line of exactly the same cookie cutter design; however, the houses were beautiful, and the garden condos (that we stayed in) were very nice.
Waterford seemed to be more family oriented, OK, but kind of closed in. The problem we ran into was the rain and the horrendous flooding that it caused. We had 11-12" of rain Monday, then another 10-12" of rain Wednesday and Thursday. There were many roads washed out, so our overall impression of the area wasn't exactly positive.
You migh look into Compass Pointe; it's kind of out of the way, but is also in the newer stage of development.
I would suggest you do a search on city-data.com forum of each of the communities as I think you'll find lots of information from previous posts.
One other thing, I would check on City-Data.com Home Page where you can type in the name of a city or zip code and get lots and lots of information. Pay particular attention to the # of registered sex offenders in Leland; it seemed high to me especially when compared to a larger city like Wilmington NC.
The whole area appears to be growing, but overall, is a nice suburb of Wilmington.
You might also want to consider St. James, our POA has been running a surplus for many years and has been able to fund amenities with that money, including new trails, additional landscaping, and a state-of-the-art community center. St. James has more than $100,000,000 in amenities completed and the developer is adding new neighborhoods, pools, etc every year. St. James is also an incorporated town in NC with its own government. bill
We were driven out to Compass Pointe, but the gate was locked. I think it was rte. 74 was pretty much flooded out - smaller cars were floating off the roadway; the realtor we were with had a nice high SUV so we managed to stay on the road. It's away from Rte. 17, but seemed like a nice, although undeveloped, area. I get mailings and emails from them, and it does look nice; although, it also is in the early stages of development, which made us just a bit uncomfortable.
I've read lots of really great things about St. James Planatation. How long have you lived there?
St. James has more than $100,000,000 in amenities completed.
That's not exactly accurate. There are nowhere near 100 million in amenities in St James. That figure is the total cost of all the money spent on development costs, land clearing, infrastructure, water and sewer lines, street paving, irrigation, surveys, deed filing and permitting in addition to amenities. The actual amenities including the marina, golf courses, pools, tennis courts, ect are not even 1/4 of that cost. The 100 million dollar figure does make for a sensationalized billboard on highway 211 near the entrance of St James but it's just a twist on the truth for advertising purposes. Don't believe everything you read.
Not to be contrary or anything, but this piqued my interest. Never really thought about the cost of building a golf course. So I had to do some sleuthing.
"The course built to PGA Tournament quality would cost about 3 million to build. Nicklaus would donate his services, normally around 2.5 million to design."
Add a top of the line club house and you're probably still under 10 million.
Times that by 4. Not too shabby.
Anyway, who knew that Nicklaus had 5 kids and 22 grandkids
Prolific bunch!
GMarcan & Crimson Dregs: Thanks for your suggestions! Regarding St. James Plantation, we have been there and liked it. However, we want to be closer to a city so that's why we're considering Wilmington. The other thing I've heard is to expect high homeowners insurance because of hurricanes. Hopefully, the lower taxes in Brunswick county (versus New Hanover county where Wilmington is located) will offset the extra money needed for the that insurance.
We live on Cape Cod so am familiar with the "high insurance" cost. We pay premium rates (if the company will even write here as many of them have simply declined to write anything at all on the Cape) because of the exposure. Doesn't seem to matter we've not had a hurricane for 20 years and other parts of MA have much much worse weather than we do. I believe you'll find higher HO insurance rates, and probably fewer companies to choose from. It's certainly a consideration, but I would venture to say that real estate taxes are lower. I would check out what other taxes are charged: sales tax (what is taxed and at what rate), excise tax or a road tax for you auto(s). I think you should be able to find a lot of that information on city-data.com home page; just type in the city and it gives tons and tons of information about that city/town. Good Luck in your quest!
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Cost of Amenities
We live on Cape Cod so am familiar with the "high insurance" cost. We pay premium rates (if the company will even write here as many of them have simply declined to write anything at all on the Cape) because of the exposure. Doesn't seem to matter we've not had a hurricane for 20 years and other parts of MA have much much worse weather than we do. I believe you'll find higher HO insurance rates, and probably fewer companies to choose from. It's certainly a consideration, but I would venture to say that real estate taxes are lower. I would check out what other taxes are charged: sales tax (what is taxed and at what rate), excise tax or a road tax for you auto(s). I think you should be able to find a lot of that information on city-data.com home page; just type in the city and it gives tons and tons of information about that city/town. Good Luck in your quest!
