HOA fees (Miami: apartments, lease, condos)

[DashGlobal]

I didnt factor these into my orginal projections. Big thing to overlook! lol

From doing some reading it appears these can be quite high like 400-500 dollars a month for condos/apartments.

Then I saw where someone paid 150 a month.

Does anyone know the average HOA's fees in and around Miami? I assume condos/apartments are more than say a townhouse. Is this correct?

[cixcell]

there is no average. its highway robbery and varies widely

[DashGlobal]

So what would be considered a reasonable/good HOA fee and what would be a bad/expensive HOA fee?

Im trying to get a grasp of the Miami area HOA fees. Im not paying 400-500 bucks in a fee! Thats just outrageous!

I could live with 100-200 maybe.

[cixcell]

theres a reason i rent still and have a long lease.
its not so much the HOA fee as it is the fact that they will raise it on you without providing effective or additional service. once you're on the hook the trap springs.

[Magnolia Bloom]

Originally Posted by DashGlobal

I didnt factor these into my orginal projections. Big thing to overlook! lol

From doing some reading it appears these can be quite high like 400-500 dollars a month for condos/apartments.

Then I saw where someone paid 150 a month.

Does anyone know the average HOA's fees in and around Miami? I assume condos/apartments are more than say a townhouse. Is this correct?

Typically, condo fees are higher BC with a condo, you "typically" are only responsible for the drywall in. With an HOA or townhouse, you are typically responsible for the entire unit- roof, porch, decking, etc.

Fees vary widely. Don't just look at the fees, but at the reserves, as well- otherwise you could be hit with an unexpected special assessment.

The operative word is "typically"- LOL! You really have to read the governing documents to know who is responsible for what. And make sure to see the budget and know about the reserves, regardless of condo or homeowners association.

[hmontaq]

As mentioned... varies wildy. I bought a 1980s condo for 19k cash and its $280 a month HOA.

Downtown Miami is high as I researched it because I really liked Neo Vertica but couldnt stomach the fees of around $600 a month.

Also low occupancy can increase it as well as assesments.

Also dont forget taxes. I found an amazing near new home with a 3 car garage in a golf course community for $120,000 where most were near 300k. Problem was $7,700 a year in taxes!!!

Renting is not a bad thing.

[DashGlobal]

I guess im gonna have to get a townhouse. No way im paying outragous condo HOA fees.

Hopefully some townhouse HOA's are reasonable....

[r_k]

Magnolia Bloom is exactly right. Focus on what that fee is being used for, not just the amount. Some place with a low fee may have no reserves for maintenance, then you get hit with a $20 "special assessment" for repairs every so often. Other places may have wasteful spending on pools, gyms etc. you may not care about. Still others are high because of vacancies or delinquent owners. You can't assume that all townhomes operate the same way either, in some cases you're responsible for almost everything, in others the HOA is. In other words, do your homework, and be careful.

[hmontaq]

Or buy a house thats not in a HOA community...

[DashGlobal]

Originally Posted by hmontaq

Or buy a house thats not in a HOA community...

I doubt I would be able to get a decent house in a safe area for 100k.....