Lakewood Ranch CDD and HOA Fees (Country Club, East Lake: for sale, real estate, 2014)

[OKCSteel]

Can anyone shed some light on what I can expect for the CDD fees and HOA fees for living in Lakewood Ranch? If there are any other hidden fees that you know of, that would be appreciated also.

Thanks in advance!

[SoFLGal]

What area of Lakewood Ranch are you interested in? They all have different fees.

[OKCSteel]

Not sure yet but definitely one of the gated areas. I know the HOA's will vary based on the community but I have never dealt with CDD fee's so I have no idea what those could be.

[OKCSteel]

Probably the Country Club or Country Club East.

[TamRE]

The CDD fees vary by location and home. Here are some current fees listed in the MLS just to give you a basic idea. This is for one home in each community.

Belleisle Lakewood Ranch Country Club East
CDD Fees $1881.00 annual
HOA Fee $1617.00 annual
Maint Fee $215 per month

Country Club East Lakewood Ranch
CDD Fee $2177.00 annual
HOA Fee $1669.00 annual
Maint Fee $334 per month

Edenmore Lakewood Ranch Country Club
CDD Fee $2770 annual
HOA Fee $757 quarterly

Hazeltine Country Club East
CDD Fee $1810 annual
HOA Fee $1581 annual

Lakewood Ranch Country Club
CDD Fee $1564 annual
HOA Fee $208 annual
Maint Fee $260 month

Lakewood Ranch Country Club Village
CDD Fee $5763 annual
HOA Fee $530 quarterly

[SoFLGal]

Country Club of Lakewood Ranch CDD is runs roughly $2K-$3k. You can go here to look up a specific home: https://secure.taxcollector.com/ptax...do?action=list Under non ad valorem Tax you will see the CDD listed. They are included in the tax amount.

CDDs are boards that levy fees on homeowners in certain developments in order to build amenities such as pools, golf courses, club houses, etc, without having to raise the local tax rate. They are also used to construct roads and lay in utility lines that serve the homeowners who pay the CDD fees.

Homeowners pay a certain amount every year, rather than being assessed for the entire fee up front. CDD fees are also tax deductible for the property owner, as opposed to HOA fees, which are not. They also enable builders to create upscale communities that wouldn’t be possible without the CDD fees

Buyers often don’t know the risks and aren’t told about all the things that can happen, such as fees going up or paying for amenities that don’t directly benefit the homeowners. Currently, Florida law only requires a sales contract to include a disclaimer stating that CDDs may be imposed on the property. Homeowners are often surprised to learn that the CDD fees may increase at the developer’s discretion, with no recourse available to them. This is because CDD boards are initially comprised of the developer’s associates and are not required to have any homeowner representation for up to the first six years of their existence.

My advice: if you’re purchasing a home in a self-contained community, be sure to ask your real estate agent, or the developer, if there is a CDD clause in the contract.

Homeowners' associations, or HOAs, are formal legal entities created to maintain common areas; they have the authority to enforce deed restrictions. Most condominium and townhome developments, and many newer single-family subdivisions have HOAs, which are usually created when the development is built. Covenants, Conditions & Restrictions (CC&R's) are issued to each homeowner, and HOAs are established to ensure that they are adhered to in order to maintain the quality and value of the properties involved.

HOA's can be charged monthly, quarterly or yearly. If the community was maintenance free then you might have fees associated with that. Also some communities include certain things like: cable, water, etc

Features of a Homeowners' Association:
•Membership is mandatory for all property owners within the development

•Members are usually charged mandatory fees

•Homeowners associations have the authority to enact and enforce maintenance and design standards in addition to those established by City ordinances

•Homeowners' associations are corporations with formal bylaws - there is usually a governing board which hires a property management company to handle maintenance and enforcement issues

•Many homeowners' associations publish a newsletter

Other restrictions that may be enforced by an HOA: parking on street, landscaping approval or types of plants, garage door being open, fence restrictions, pool restrictions, erection of basketball hoops or tree houses, storage of boats and RVs, number of pets, age requirements of residents. There can be more.

If you want to start a discussion on a controversial topic, start talking about Homeowners' Associations. You are bound to find people who appreciate them, people who despise them, and people who are somewhere in the middle. Those who like Homeowners' Associations say that they protect the value of their homes and neighborhoods. They do this by keeping the area looking attractive, and making sure no one does anything wild, like painting their house gold and pink, parking an 18-wheel truck on their front lawn, leaving dismantled vehicles in the street, or running a flea market in the driveway. Opponents of HOAs point to overzealous and unscrupulous HOA boards, fee increases that can't be declined, and rules that are far too restrictive, from what kind of shrubs to plant, to placement of a clothesline, to preventing the displaying of the American flag. Anti-HOA organizations believe that the HOA are private governments that set themselves above the law.

Whether or not to live in a development governed by CC&R's and an HOA is an individual choice. Prospective home buyers should:

•Read any CC&R's recorded against the home and make sure they can live with the conditions and restrictions contained in the document prior to close of escrow.

•Find out what the current dues are. Once you buy the home, you can't decline to pay the dues. If you do, you could be evicted and your home could be sold to liquidate the debt. HOA dues can range from $20 per month to hundreds per month, depending on the property and the amenities provided by the community.

•Find out how often the dues have been raised during the history of the HOA. Will you be able to withstand future increases or will you have to move? Find out if the HOA has cash reserves.

•Determine if there are term limits for the Board, and if Board members have attended training sessions in efficient HOA management

•Determine if there is litigation pending involving the HOA

[bbronston]

You've already received good info all around so I'll just add that the MLS system for our area has a public face at www.myfloridahomemls.com and it pulls information directly from our MLS listings. So, you can enter "34202" in the search and then use the map feature to drill into specific properties where you can find the info you want. Remember that your taxes will be different than the taxes you see but the CDD, HOA, and neighborhood maintenance fees (if any) should stay pretty consistent. One other thing, just to be clear. Although you may come across a property (or a neighborhood in Greenbrook) where the bond portion of the CDD has been paid in full, the CDD charge on the tax bill usually has two components: the bond and the maintenance charge. However, like other bonds, there is a maturation date and it is based on the date it was issued, not the date of the property's construction. So, CDD1's bond ends in May 2014, for example. CDD2 ends May 2017, CDD3 ends May 2034, and CDD4 ends 2031.

[OKCSteel]

Wow! Thanks for all of the good info! I am planning a trip to the area within the month and this will help.

[Sunshine Rules]

Lot of good posts on this thread.

I would like to add that the CDD and HOA fees for the various Lakewood Ranch communities also vary within the neighborhoods according to sections, lot size and/or home size.

For example, a 2 bedroom/2 bath home in Belleise in Country Club East that I showed recently had annual CDD fees of $1300 with monthly HOA/lawn service of $324. That's $581 difference on just the CDD fees from what another person posted here. Because of the variance of fees, it's a good idea to go to the public version of the MLS as bbronston suggested to see the specific taxes and HOA fees for the individual properties for sale in Lakewood Ranch.

If you're going to look at new construction, you can ask for CDD & HOA fees up front from the on site rep for a particular style home on a particular lot, including one time fees collected at closing that appear in the small print - ie builder fees, irrigation connection fees, final survey fees, capital contribution fees, etc.

If you're interested in Central Park at Lakewood Ranch or the brand new, soon to be built Esplanade, they have a different zip code. It is 34211.

[JollyOgre]

How can you tell if a property is in an area that has CDD/HOA or other deed restrictions/fees when looking at it on-line?

I would not want to have all the properties that I am intrested in, in those areas when I come down to look for homes. Then I would to have to start all over again from scratch looking for homes that might intrest me.

I want to have my homework done before I get there to make it easier for me and my agent, whom ever that ends up being.