Homeowner Association Fee Survey

[justin]

Used to own a 2 BR 2.5 BA 1200 sf condo in Chapel Hill NC. Dues were $130/month. Not a bad deal though, since they paid for water, sewer, trash, most of the insurance, yard maintenance, parking lot maintenance, pool/basketball/tennis court maintenance, clubhouse maintenance, and exterior maintenance.

Small reserves, most large improvement or maintenance items were handled through "special assessments" ranging from a few hundred to a few thousand dollars each (new siding, new roof, large scale regrading/drainage, painting/repairing decks and porches, etc).

Overall, great value for the money. Water/sewer/trash would have been ~$40/month. Insurance would have been another $20-25.

[saluki9]

1050 Sq ft 2 bedroom Condo in Chicago's northern suburbs. ~400 units mostly condos with about 40 townhomes.

Indoor and outdoor pools, tennis courts, volleyball, big ponds, and very nice landscaping.

My monthly HOA pmt is $290 and my PPT taxes are $500

[OAG]

$207 going to $230 a month next year. 80 Units in 20 Buildings. About 2,800 SF finished including basement rec room. Covers Water, Sewer, Trash Service, Lawn and Irrigation, Snow Removal, most of the Insurance, outside maintenance and a RESERVE fund for future expenses. Development is new (Built in 2001-2005 in phases). Central Ohio. No pool (public pool 1 mile) and no club house (public golf course 1/2 mile away).

[Momtwo]

$38. a month- approx. 600 single family homes. The majority of the dues goes to pay management company who oversees everything for us- we have 4 parks and alot of common area landscaping.

Western Minneapolis Suburb

2br - 3600 Sq. Ft.
$300 per month HOA Fees

Have $100 Grand in the bank for future exterior maint costs.

[free4now]

$380/month for ~1000 square foot condo in SF Bay Area (market price approx 600k). 400 plus units in complex, includes hot and cold water, garbage, landscaping, maintenance of building up to the drywall. Actually a reasonable deal I think, even though it's one of the highest rates posted here. Many people figure on 1% of a home's value per annum for maintenance, which would be $6k in my case, so these HOA dues, covering most routine maintenance items, are still less.

[Mr._johngalt]

Quote:

Originally Posted by free4now $380/month for ~1000 square foot condo in SF Bay Area (market price approx 600k). 400 plus units in complex, includes hot and cold water, garbage, landscaping, maintenance of building up to the drywall. Actually a reasonable deal I think, even though it's one of the highest rates posted here. Many people figure on 1% of a home's value per annum for maintenance, which would be $6k in my case, so these HOA dues, covering most routine maintenance items, are still less.

This is really interesting. I pay $210 per month which includes all of the
above plus pool and tennis courts. Condo is also 1000 SF.
Excellent area, lake view, golf, marina, fine dining in walking distance.
Market value? Maybe 60K.

JG

[Brat]

My brother will be shopping for a condo next year when he hopes a flood of new upscale units and panicked 'investors' will depress the price the existing ones. So, I have started to drill down on association reserves for maintance. The state requires that each association conduct a study and estimate the life cycle and replacement (major repairs) and fund that expense in the monthly HOA fees.

Associations with extensive grounds maintance and swimming pools will have higher fees. At first glance a really old (almost historic) building seems relatively high, but that may be because it has steam heat boiler system and that is included in the fee. You really need to map out the details to accurately compare.

[johnbb]

$275/month for 2200 square foot townhouse (3 story, 3 bedroom, with a large loft which works as a 4th bedroom) in SF Bay Area (market price approx 650k). Includes garbage, landscaping, maintenance of exterior building.