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Old 02-25-2008, 02:01 PM
 
2 posts, read 8,950 times
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Hello,

I'm getting ready to buy my very first home and I'm so excited! The place I'm looking at has HOA dues of $77 per month and it's a well-established Townhome community. This covers landscaping, external maintenance on homes and community areas, property management, annual accountant auditing, upkeep on signs and community lighting. That seems like a lot compared to what I've seen other places.

At first I didn't think this was so bad, but at $924 a year total that seems a bit steep. Is there an average for HOA dues in this area or will I be paying too much?

Thanks for any thoughts and ideas folks may have.
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Old 02-25-2008, 04:06 PM
 
Location: The 12th State
22,974 posts, read 58,586,358 times
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It sounds about right. Look into the bylaws make sure you are not skipping anything covered. Drive through the community to see how well they enforce the by laws.

There is no average since it is up to homeowners to set the price and each community offer differernt amenities, and you are no forced to live in HOA community
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Old 02-25-2008, 07:27 PM
 
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living in a new HOA condo community that doesnt have all of the condos sold yet, its $75. we dont have a playground, tennis courts or pool but once the third building is up, it will be a gated community. at 75 this is ok but i find it annoying when people who live in communities with houses complain about a 15 HOA. Since this is my first home, I guess its great to get this stuff out of the way so I'm not fooled later. there are some places here with rampant HOAs that exceed 245 and apparently at this one place, it was to replace the roofs of the condos and something with the pool. the owners of the place i almost bought said that they could help with the HOA until Jan when the price went down to 145. although it's location was absolutely perfect, next to country park, I couldnt get passed the HOA. I still wish i could be that close to the park but when i think about coming home and having to deal with nutty neighbors in a community governmental power, I think I'm good. and safe.
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Old 02-26-2008, 09:17 AM
 
Location: greensboro
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$77 a month is actually cheap for this area- is that all it covers? They have taxes to pay on common areas as well.
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Old 02-26-2008, 10:29 AM
 
2 posts, read 8,950 times
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Quote:
Originally Posted by yourhometriad View Post
$77 a month is actually cheap for this area- is that all it covers? They have taxes to pay on common areas as well.
I forgot, it also covers the taxes and insurance on the common areas as well. Sounds like I'll be getting a good deal with this, thank you so much for putting my mind at ease!
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