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I have been thinking about getting a condo in palm beach county for some time...55+ community, like century village. the prices are so low, and interest rates so low..now is the time I thought. Possibly CV in Boca or west palm or others like kings point or village royale. Been following prices on Trulia and CV web for over a year.
actually called CV today as I am going down later this week and would like to look at a couple. Cost of HOA--well it is actually two costs..one is the HIOA fee and the other is a "recreation Lease". total fee--not the $200 -250 per month on both sites, but $390-450, because obligated to pay monthly recreation lease. If you google "recreation lease' and south florida or CV with it, you will discover that this has been the subject of lawsuits by HO's because in the 1970's the developers pulled a fast one..people did not know they were obligating themselves forever to the developer--that is right..the developer still has this cash cow recreation lease over 40 years later, and these leases had automatic price increases built right into them..some condo owners are paying almost $1500/ month in other developments. the recreation lease evidently covers such things as the clubhouse, pool , vans etc..its not included in the HOA which is only for the particular building. yes, something has to pay for those services, but one would conclude, as did i, that because there were so many units in these communities the volume of people playing HOA fees covered it; and who would suspect that after so many years the developer and his descendants would still be dipping their grubby fingers into retired people's pockets for their vigorish .
and guess what--they show and describe all the amenities on their web sites and in listings, while conveniently only disclosing the HOA fee --outrageous. its shady. and , the recreational fees are apparently a first lien, ahead of a mortgage, which is another reason why banks wont lend.
lol its not a scam, they tel lyou about it, my father has condo in century villGE HE PAID 15 K FOR IT I THINK HIS TOTAL FEES PLUS PROPERTY TAX IS 4K PER YR SOUNDS CHEAP LIVING TO ME.
lol its not a scam, they tel lyou about it, my father has condo in century villGE HE PAID 15 K FOR IT I THINK HIS TOTAL FEES PLUS PROPERTY TAX IS 4K PER YR SOUNDS CHEAP LIVING TO ME.
The OP's number ($) and your number ($) don't add up !?
ITS cause original poster isnt telling u correct amount for century village. Illl tell you what my father pays for 1br in century village deerfield beach, boca raton might be higher ,dunno.
He bought his apartment for 14-15k cash like 9 years ago, prices are almost back to those levels now. I think after homestead reduction his property txes are like less than 100 bucks or nothing at all . remember homestead deducts 25k from being taxed ,so if your apt is lower than 25k u basically will not be taxed much. he doesnt care to buy inside insurance which would be 20-30 a month. says he doesnt have anything he cant replace himself. his monthly dues hoa and clubhuse combined is betwwen 320-340 a month, so basically thats 4 k a year hes paying, it adds up, he gets water and basic cable tv included, he gets shuttle buses and all the danc ing pools etc, i lived in 3 rd world countries and paid more than 4k a year so yeah i think its cheap, the avg retiree who only gets ss can live off his ss check there. now ofcourse there are higher class associatuions if you want to pay more but he likes century village and hes actually a millionaire he travels to his apt in manhattan during the summer.basically they are the biggest and most politically active like 6k apts and you get most bang for the buck hhe dont believe i n paying more money for basically the same thing a pool in century village will coool him off as much as a pool in a higher priced condo and CV has like 11 pools
ITS cause original poster isnt telling u correct amount for century village. Illl tell you what my father pays for 1br in century village deerfield beach, boca raton might be higher ,dunno.
He bought his apartment for 14-15k cash like 9 years ago, prices are almost back to those levels now. I think after homestead reduction his property txes are like less than 100 bucks or nothing at all . remember homestead deducts 25k from being taxed ,so if your apt is lower than 25k u basically will not be taxed much. he doesnt care to buy inside insurance which would be 20-30 a month. says he doesnt have anything he cant replace himself. his monthly dues hoa and clubhuse combined is betwwen 320-340 a month, so basically thats 4 k a year hes paying, it adds up, he gets water and basic cable tv included, he gets shuttle buses and all the danc ing pools etc, i lived in 3 rd world countries and paid more than 4k a year so yeah i think its cheap, the avg retiree who only gets ss can live off his ss check there. now ofcourse there are higher class associatuions if you want to pay more but he likes century village and hes actually a millionaire he travels to his apt in manhattan during the summer.basically they are the biggest and most politically active like 6k apts and you get most bang for the buck hhe dont believe i n paying more money for basically the same thing a pool in century village will coool him off as much as a pool in a higher priced condo and CV has like 11 pools
Hi,
Thank you for the clarification. At least we are clear that 4K in total (homestead, non ad valorem of $183/year for a $16,000 value for argument sake).
I know Century Village is huge with multiple locations in S FL, and I am hoping they could reduce their HOA fee & club house fee to around $250/month instead of $320-340 b/c I know some communities could maintain a decent clubhouse, pool for around $220-$240/month for a 1 bedroom and 2 bedroom condo respectively. So why not Century Village ?
In that case, seniors could live there for less than $3000/year (homestead).
my biggest problem is the55 plus dont allow cats, seems alot of condos anti pets in florida. if they allowed cats id liver there since they dont il probly retire vegas,vegas is cheaper than florida and pet friendly. As for communities that only cost 200-250 a month can u tell me which ones?ive found that often they in "bad" areas.
There are communities in Fort Myers that charge around $250/month for a 2 bedrooms 2 bathrooms, specifically in Cape Coral.
They have a swimming pool, a club house and a basket ball court, no age restriction.
Some trailer park (55+) in Fort Myers/Naples area charges only $160/month with pool, clubhouse.
There are also communities in the Orlando area that charge around $240/month for a 2/2 condo, they have club house, exercise room and a swimming pool.
Personally I think CV's fees are high given the huge population where everyone chips in their shares, that should drive the cost down.
It's like property taxes in Toronto is lower (percentage wise compared to home values) than the outskirt cities. Higher number of residents should drive the cost down but I don't see that in CV.
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