"Fees" for new homes question? (for sale, insurance)

[deerstar]

In viewing the homes for sale in NH, when I read "fees", are they due monthly or yearly?

[nicolem]

If it is a townhouse, condo or part of an association, then most likely it is monthly.

[deerstar]

what if it is a modular home on a lake? like a vacation home?

[nicolem]

Originally Posted by deerstar

what if it is a modular home on a lake? like a vacation home?

Sorry, I have no idea- I guess you would have to contact that particular association. I imagine with some seasonal communities the fee might be for the season. Perhaps Valerie, our resident realator would have more insight.

[Valerie C]

Thanks Nicolem, I've been away for a few days.

Deerstar, the fees mentioned could be monthly OR annually. Typically a condo will have monthly condo fees to take care of master insurance policy on the buildings, possibly a community well or septic, trash removal, landscaping, recreation if available, and other amenities. Generally a single family home neighborhood that has association fees will be yearly. Each development is different, and that fee covers such things as insurance and maintenance on common areas such as roads, lighting for the neighborhood, beach maintenance if applicable, and so much more... If you have a particular neighborhood or property in mind, you should ask your agent for clarification on what the fees are for and how often they need to be paid. Generally a neighborhood that has association fees will also have protective covenants and restrictive indentures, and may limit what you are allowed to do with the exterior of your property and home. These also vary from neighborhood to neighborhood, but be aware that some are extremely restrictive and legally each property owner agrees to be bound by the subdivision rules.

[chianti1976]

That's a great answer, Valerie C. I'd ditto that answer as you said it!