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Old 07-31-2013, 09:54 AM
 
Location: Jacksonville, FL
131 posts, read 270,676 times
Reputation: 127

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EngGirl is right. And I feel that the CDD itself is a rip off and a way for developers to get homebuyers to pay for them to develop. However in our old community in St Augustine and in the community we are renting in now in Wesley Chapel, and in a new community we looked at models in, the CDD monthly is equivalent to what a typical HOA is like. In Heritage Landing in St Augustine we paid like $90 a year in HOA but like $2400 a year in CDD fees. When you get to the more luxurious communities you get hit with both at a high yearly rate. For example Palencia in St Augustine was several thousand a year for CDD but also like $1200 quarterly for HOA. Ridiculous.

My advice if you have the income to afford a $300k house is to rent when you move, buy land or a lot in a planned community that is selling lots with restrictions on home sizes (usually like 2000 to 2500 sq ft or bigger) and build your own house. You'll get a lot bigger and better quality house for your money and not have to pay all the extra fees like CDD or HOA.
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Old 07-31-2013, 10:45 AM
 
Location: Apollo Beach, Florida
673 posts, read 1,036,150 times
Reputation: 393
Quote:
Originally Posted by EngGirl View Post
still, I think CDD is a rip off. developer borrowed the money of the conditions you are not responsible for, but you have to pay it back. Some developments are OK with prepayment and some not.
If developer can build whatever needs to be build in order to attact people to specific community, it might cost them way cheaper than they borrow from the county, but it's going to be their money. They rather get and spend way more and make people pay it back. Brilliant!

Bond part is OK, but what about main. part? At some point in future they will recalculate main. cost, I promise. Otherwise they will not be able to maintain everything to the level it should be done. And you have no control.

If you can save by making payment upfront and have money to do so, go for it. The same applies to PMI upfront is you below 20% downpayment and going with conventional for example.
Yes, I know all this. I am considering paying off the bond up front. I am putting down almost 50%; I won't pay PMI.
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Old 07-31-2013, 12:13 PM
 
3,313 posts, read 4,290,432 times
Reputation: 1835
Quote:
Originally Posted by JoJoCal19 View Post
EngGirl is right. And I feel that the CDD itself is a rip off and a way for developers to get homebuyers to pay for them to develop. However in our old community in St Augustine and in the community we are renting in now in Wesley Chapel, and in a new community we looked at models in, the CDD monthly is equivalent to what a typical HOA is like. In Heritage Landing in St Augustine we paid like $90 a year in HOA but like $2400 a year in CDD fees. When you get to the more luxurious communities you get hit with both at a high yearly rate. For example Palencia in St Augustine was several thousand a year for CDD but also like $1200 quarterly for HOA. Ridiculous.

My advice if you have the income to afford a $300k house is to rent when you move, buy land or a lot in a planned community that is selling lots with restrictions on home sizes (usually like 2000 to 2500 sq ft or bigger) and build your own house. You'll get a lot bigger and better quality house for your money and not have to pay all the extra fees like CDD or HOA.
This is exactly what one of our family member did, not in Tampa though, but they still have annual HOA fees (around $500 if I remember it correctly). The problem is that there are not much communities selling lots like that in Tampa Bay area. I was considering this option, but 0.25 ac lot was coming to at least $70K and community resrictions were to build the house >2500 sq.ft. with side garage only. We met with 3 builders and the price for the house with side entrance garage was startig at $300K... So, the 2500 sq.ft. house like that will end up being $370K... considering low HOA and no CDD it still makes sense.
What I can tell for sure, private builders are doing way better job compare to cookie cutter builders quality wise...
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Old 07-31-2013, 12:16 PM
 
3,313 posts, read 4,290,432 times
Reputation: 1835
Quote:
Originally Posted by PowderSpringsDad View Post
Yes, I know all this. I am considering paying off the bond up front. I am putting down almost 50%; I won't pay PMI.
That's great! As long as you happy, you are good! Congrats!
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Old 07-31-2013, 12:59 PM
 
Location: Apollo Beach, Florida
673 posts, read 1,036,150 times
Reputation: 393
Quote:
Originally Posted by EngGirl View Post
That's great! As long as you happy, you are good! Congrats!
Thanks. I do wish there was no CDD but there is nothing I can do to change it.
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Old 06-27-2014, 05:49 AM
 
58 posts, read 103,691 times
Reputation: 20
Here is a nice webpage and map on where the cdd areas are
Florida Community Development Districts

Has anyone seen something similar on HOA fees ?

Thank you


Quote:
Originally Posted by ApolloBeachRetiree View Post
Thanks. I do wish there was no CDD but there is nothing I can do to change it.
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Old 06-27-2014, 09:28 AM
 
3,313 posts, read 4,290,432 times
Reputation: 1835
Quote:
Originally Posted by toddanderson View Post
Here is a nice webpage and map on where the cdd areas are
Florida Community Development Districts

Has anyone seen something similar on HOA fees ?

Thank you
This link is not up to date and doesn't show all CDD communities. I think it's at least 5 year old for Wesley Chapel area
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Old 06-27-2014, 04:07 PM
 
25,782 posts, read 38,999,165 times
Reputation: 13783
I noticed that too and there are a lot of errors in that list but that is not the posters fault and thanks for posting the link anyway.

On this website Seven Oaks is showing as being in default of payments which I highly doubt but don't have proof of that but I do have proof that Seven Oaks is not located in St. Johns County and I noticed other errors.

Another community in Wesley Chapel is not showing up but another one did show up and it maybe under the different name but it is stating that foreclosures have been started but it is a brand new community with new built homes and no foreclosures which also shows there are errors.

Please be aware that this website is nice to check on if they have a CDD but nothing further...
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Old 07-01-2014, 03:32 PM
 
25,782 posts, read 38,999,165 times
Reputation: 13783
Avalon Park in Wesley Chapel;

- 2 CDD fees totaling $ 169.33 a month = $ 2031.96 annual
- HOA annual fee$ 484.80

This incl. pool and basket ball court and basic cable.

If you compare it to Seven Oaks where I pay almost $ 900 less a yea with 3 pools (1 with a big slide), Nice Clubhouse with fitness, 5or 6 tennis courts, basket ball court, volleyball court, football/soccer field, play yards, bike/walk/running trail, etc. than you can easily see why Seven Oaks is so desirable and that is not even incl. the excellent location.
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Old 07-02-2014, 11:32 AM
 
3,313 posts, read 4,290,432 times
Reputation: 1835
I think everyone got it how nice seven oaks is (including higher cost of the house)... can you compare Avalon Park to any other than seven oaks community? Why every community has to go through comparison with seven oaks?
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