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Old 05-18-2012, 03:45 AM
 
Location: Bordeaux(France), soon at Tampa Bay
41 posts, read 156,885 times
Reputation: 117

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Hi,

I'm looking for buying a house in Tampa bay area.
Can you explain me the HOA fees ?
it's annual fees or just purchase's fees ?
it's just for condos or individual houses as well ?
how prices are determined ? (by county, city, gated community...)

thanks
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Old 05-18-2012, 04:51 AM
 
Location: Castle Rock, Co
1,614 posts, read 2,833,353 times
Reputation: 960
HOA fees are done by the community itself. Most condo and apartments have a monthly HOA fee which includes all of your grounds maintenance and so on. Most newer communities of houses have HOA fees too which is usually either an annual fee or sometimes even quarterly which is usually to pay for the shared grounds (parks, community pools etc..)

Prices of HOA fees are determined by the board for the community


There is also a thing called CDD fees which are part of your tax bill. Most newer home communities have these (in addition to the HOA fees)
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Old 05-18-2012, 11:31 AM
 
Location: Toledo, OH
1,725 posts, read 3,127,086 times
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Vince, when you find something you are interested in your Real Estate Agent should show you what an MLS data sheet has for all of those questions. You can find it searching around, but sometimes just easier to see it all on one sheet.

Great question though. Some of these FEES are SIGNIFICANTLY HIGH!!! Mine is about 550 annually. It pays for the the cleaning/mowing of common areas, running the front gate, and keeping the streetlights on.

I have seen some in excess of 200 per month, plus another 150 or so for CDD (Community Development Fee). Add that 350 into your mortgage every month and things look a litte different.
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Old 05-18-2012, 12:36 PM
 
Location: Tampa, FL
27,798 posts, read 27,954,239 times
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My HOA are $400/mo. Includes cable, security, h20 for lawn, lawn maintenance, clubhouse/fitness center/pool maintenance, and my home's structural insurance.
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Old 05-18-2012, 01:22 PM
 
Location: Toledo, OH
1,725 posts, read 3,127,086 times
Reputation: 1275
While the 400 may seem high, that is a lot of good services you get with that. I think that 400 is very well worth it. Break it down per service, YOU MAKE MONEY!!
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Old 05-18-2012, 02:43 PM
 
7 posts, read 37,422 times
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Default Really.........

My HOA fined me $1000. for having fake flowers on my lawn!! and you can't tell they are fake!!! meanwhile guy down the street has his Xmas lights on for 3 years now .all year long!!
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Old 05-18-2012, 04:22 PM
 
Location: Tampa, FL
27,798 posts, read 27,954,239 times
Reputation: 14611
Quote:
Originally Posted by smilesandfun37 View Post
My HOA fined me $1000. for having fake flowers on my lawn!! and you can't tell they are fake!!! meanwhile guy down the street has his Xmas lights on for 3 years now .all year long!!
Seems pretty stiff especially if you didn't receive any warnings beforehand.

Did they give you any warnings?
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Old 05-19-2012, 03:39 AM
 
Location: Bordeaux(France), soon at Tampa Bay
41 posts, read 156,885 times
Reputation: 117
Thanks.

Gulfer, I'm agree with you when you say the real estate agent show me this info, but the monthly fees guide me in my search and avoid to lose much time.
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Old 05-19-2012, 06:34 AM
 
5,453 posts, read 8,187,335 times
Reputation: 2141
The "monthly" fees are usually found in condo's.

If you buy a house in a subdivision your HOA fees can be paid yearly, (or quarterly), and it doesn't include anything but the "common areas" maintenance.

ONLY In a condo you get the fitness, cable, water etc.; in a community you do not get those things. In Cheval you have to be a club member to use the clubhouse for fitness, or the Golf course etc.

The HOA is usually managed by a company like Green Acres, or managed by the homeowners after the community is done being built. Some communities continue to use the management company because its easier than hire an accountant and keep it "HONEST".
The HOA fee is determined by the builder when the community is being built, and the fee itself has to do with how much maintenance will be needed to maintain the property looking good.

ALL that said, you can find homes in areas that do not have an HOA....however, most of the areas that do not have HOAs look like crap. I am not one for policing homeowners, but in some cases they need to be policed because they have no common sense, and don't understand how the "property value" works.

Here's a good example up north where we lived, the entire street was well maintained, and manicured without an HOA...the owner of the house we rented had no understanding of what a "homeowner" is, or should be, or should act like. Our yard was the worst, and while it was this homeowners responsibility to prune her trees (per the city code), this person had no intention of doing so, endangering the street, and pedestrian traffic; not to mention the overall "look" of the yard. If that area had an HOA, this person would have received quite a huge fine for allowing the front yard to look like that.

Also, the HOA should be the least of your concerns when buying a property; most communities in Tampa have CDDs (Community Development District) which adds $2000+ to your tax bill. Cheval is one of them...so, when you do speak with a realtor ask about that as well.

Last edited by algia; 05-19-2012 at 06:46 AM..
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Old 05-19-2012, 06:56 AM
 
Location: Tampa, FL
877 posts, read 1,696,800 times
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We live in Grand Hampton and in the area of the community we live in we pay about $800 quarterly in HOA fees. This covers lawn maintenance, the exercise room, the pools, the park, painting of our house every (3?) years, cable and internet.
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