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Curious as to what some of you pay or are willing to pay in an association fee per year.
Our last home was I think $150-200... something like that per year.
There is a home we plan on seeing that has a MONTHLY fee of $160.
Does $160 per month seem a lot to you?
I know there is lawn care and snow removel but I"m not sure what else is covered. I doubt they clean and cook for you too...
My former association charged $450 a year for common insurance (we had two large open spaces), nice signage at the two entryways and maintenance on two tennis courts. People fought left a right about "paying for nothing". When I left the association they were almost $20k in the red from homeowners refusing to pay. I'd think $160 a month for lawncare and snow removal to be decent!
I live in a single family HOA. We pay $880 a year which includes maintenance of common grounds, pool, tennis, a private lake, insurance and seriously substantial reserves to cover the cost of a new pool and lake dredging, as required.
There are gated HOAs in my area that charge as much as $800 a month, that include sbstantial common property, lakes and miles of private and patrolled roads.
What would lawn care cost you if you had it done by a service? If it is less than that and there is really nothing else (community pool, etc), then it isn't worth it. I don't want to pay my hard earned money to listen to power hungry jerks meet every month to complain about this and that and get a nag newsletter. HOA can be and asset, but often, they are abused.
Well, there is no pool or tennis court at this subdivision. One park and a pond, that's it.
I was paying $50 per month for lawn care before.
Location is great.
School district is great too.
Maybe that's why they charge $160 per month.
Well, there is no pool or tennis court at this subdivision. One park and a pond, that's it.
I was paying $50 per month for lawn care before.
Location is great.
School district is great too.
Maybe that's why they charge $160 per month.
"...park and a pond..."
Check out the master insurance policy premium.
Liability insurance may be costly.
Maintenance costs also may be high.
How many homes in the community?
If costs are spread over few homes, that will raise everyone's ante.
It also depends if there is a CDD. In my community we pay $ 95.- monthly fee, but in another community we pay $ 60 a year, but there is a CDD of $ 1500 a year, so you have to make sure all fees are listed and what is covered.
Even in some communities over here there are differences for the sub communities since some are gated and others not. The gated communities pay more since they have to pay for the repair of the gates and the roads, since when it is gated the roads are private and so are the lights, etc...
Are you sure it is $160 per month? Could it be $160 per Quarter? I know that some agents get that wrong when they list a house. You are probably right, but please have it double checked.
Well, there is no pool or tennis court at this subdivision. One park and a pond, that's it.
I was paying $50 per month for lawn care before.
Location is great.
School district is great too.
Maybe that's why they charge $160 per month.
I just noticed that you are in the northern subs of Chicagoland. I am probably NW of you.
Is this a single family HOA or townhomes/condo?
If you are interested in the complex, ask for a copy of the budget from the last three years, and follow the money. If you are working with an agent, your agent should be able to compare and contrast the HOA fees versus services to other area HOAs.
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