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Old 04-15-2014, 04:20 PM
 
Location: Plano,TX
371 posts, read 553,911 times
Reputation: 607

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Hello,

Looking at homes in Shoal Creek and the HOA fees are
$160 a month. Wondering why they are so high and
what is included as part if the HOA fees?

Thanks.
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Old 04-15-2014, 06:51 PM
 
106 posts, read 219,893 times
Reputation: 52
Shoal creek is a nice neighborhood. I don't know much but you can look for answers on their website or facebook page.


Shoal Creek Homeowners Association

https://www.facebook.com/ShoalCreekHOA/info
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Old 04-15-2014, 10:45 PM
 
Location: Dallas/Fort Worth, Texas
4,207 posts, read 15,257,217 times
Reputation: 2720
The HOA dues for Shoal Creek are $100 a month. They cover the common areas landscaping etc., particularly the pond, the entrances and the management fees.

Naima
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Old 04-15-2014, 11:14 PM
 
Location: Tennessee
10,688 posts, read 7,714,086 times
Reputation: 4674
Default HOA fees are generally underfunded

HOA fees are frequently underfunded from what they should be. I served as a board president for three years and worked as an employee of an HOA management company for two. Underfunding is a tremendous problem. When our HOA took over from the developer and had a reserve study done, we discovered we had been paying HALF the dues we should have been paying for the previous five years.

If all you have are some common grounds it may not be a big deal. But if you have a clubhouse or swimming pool or lots of paved streets and sidewalks----beware. Don't listen to what a developer says as he will always say whatever is being charged is enough (he keeps fees low to sell units quicker). Ask him if he has had a reserve study done-- or ask the board of directors. If they have not, put about $5000 of your own money in a cash reserve for when the HOA has to assess you and your neighbors for "unforeseen" expenses.

I saw more of those that were a giant head slap to communities than any other problem.

Good luck.
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Old 04-16-2014, 07:44 AM
 
106 posts, read 219,893 times
Reputation: 52
A friend of mine was very happy with his MPC and cheap amenities until builder wrapped up and HOA fee doubled.
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