Anonymous
Post 12/19/2013 16:08     Subject: Re:HOA Fees - why do they vary so much?
I just bought a townhouse in a new development and my HOA fees are over $100/month. I wasn't too happy about it, but at least they mow the lawn.
Anonymous
Post 12/19/2013 15:38     Subject: Re:HOA Fees - why do they vary so much?
Anonymous wrote:It really depends on the location and what the amenities in the community are. I live in a townhome with a pretty decent reserve fund & no pool but our fees are still upwards of $100/mo. The largest portion of this fee is landscaping, as well as trash & snow removal. All the roads in our community are private roads, no county maintenance at all. That $7/mo fee is likely a county maintained road with nothing more but a clubhouse and possibly a tot lot or basketball court.

Regarding Burke, there is the whole Burke Conservancy. It isn't just your immediate neighborhood, it's the entire area of Burke. There are several common areas, pools & paths that are maintained by the conservancy. I suspect there is a common amount each resident pays then add in whatever addl is necessary for their immediate community.


OP here. I guess I always assumed that when there was an HOA the roads were maintained by the HOA (including plowing). I'm pretty sure with townhouses it's almost always the case but I admit I have very little familiarity when it comes to HOAs for SFH.
Anonymous
Post 12/19/2013 15:02     Subject: Re:HOA Fees - why do they vary so much?
Anonymous wrote:Regarding Burke, there is the whole Burke Conservancy. It isn't just your immediate neighborhood, it's the entire area of Burke. There are several common areas, pools & paths that are maintained by the conservancy. I suspect there is a common amount each resident pays then add in whatever addl is necessary for their immediate community.


This pertains only to Burke Centre; none of the houses OP listed are in Burke Centre.
Anonymous
Post 12/19/2013 14:49     Subject: Re:HOA Fees - why do they vary so much?
It really depends on the location and what the amenities in the community are. I live in a townhome with a pretty decent reserve fund & no pool but our fees are still upwards of $100/mo. The largest portion of this fee is landscaping, as well as trash & snow removal. All the roads in our community are private roads, no county maintenance at all. That $7/mo fee is likely a county maintained road with nothing more but a clubhouse and possibly a tot lot or basketball court.

Regarding Burke, there is the whole Burke Conservancy. It isn't just your immediate neighborhood, it's the entire area of Burke. There are several common areas, pools & paths that are maintained by the conservancy. I suspect there is a common amount each resident pays then add in whatever addl is necessary for their immediate community.
Anonymous
Post 12/19/2013 14:26     Subject: HOA Fees - why do they vary so much?
Many new developments aren't funded by the county.

This is why I like tearing down and rebuilding in established neighborhoods
Anonymous
Post 12/19/2013 14:17     Subject: HOA Fees - why do they vary so much?
I used to do HOA budgets for a living. It's simple really. You take all the community expenses. Add them up. Layer in a reserve cushion. Divide that number by total homes. There's your HOA fee.

The house in Burke - I didn't click the link but some of those developments involve a mandatory membership to a community pool or something, so that's added in typically.
Anonymous
Post 12/19/2013 14:16     Subject: HOA Fees - why do they vary so much?
Anonymous wrote:Some places aren't adequately funding the reserve fund. This will come back to bite you in the a** later. You won't know unless you a detailed review of their financials once you get the HOA docs.


this is what I was going to say. A lot of newer places have high HOA fee's because they are building a reserve, or rather should be building a reserve. We own a cond in an older well established commmunity with a low HOA fee because they have a big reserve buit in.

It will also vary based on amenities and what the fee includes
Anonymous
Post 12/19/2013 14:08     Subject: HOA Fees - why do they vary so much?
New condo construction is famous for his one. The HOA fee they list is an estimate only, assuming little or no funding and the building being occupied right away. By the time the HOA is actually formed, the number has to be higher.
Anonymous
Post 12/19/2013 13:42     Subject: HOA Fees - why do they vary so much?
Anonymous wrote:Some places aren't adequately funding the reserve fund. This will come back to bite you in the a** later. You won't know unless you a detailed review of their financials once you get the HOA docs.


OP here. That makes sense, so they'd have to do a special assessment at some later point.
Anonymous
Post 12/19/2013 13:41     Subject: HOA Fees - why do they vary so much?
Anonymous wrote:I think there may be an error with at least listing #2. I would ask to be sure, but when we were looking in the Burke area I would often see HOA fees quoted on a quarterly basis.

If you scroll down in the listing to the section where they give details on HOA fees, it lists the total fee as $220 and that it is billed quarterly. This would work out to $55/quarter or $18/month. So I'm not sure where the $73/month comes from.....


There could be an apples to oranges issue if not all payments are truly monthly.


OP here. If it's $220 per quarter, then it would be $73 per month ($220 / 3 months per quarter) so I think it's right.
Anonymous
Post 12/19/2013 13:39     Subject: HOA Fees - why do they vary so much?
Some places aren't adequately funding the reserve fund. This will come back to bite you in the a** later. You won't know unless you a detailed review of their financials once you get the HOA docs.
Anonymous
Post 12/19/2013 13:23     Subject: HOA Fees - why do they vary so much?
I think there may be an error with at least listing #2. I would ask to be sure, but when we were looking in the Burke area I would often see HOA fees quoted on a quarterly basis.

If you scroll down in the listing to the section where they give details on HOA fees, it lists the total fee as $220 and that it is billed quarterly. This would work out to $55/quarter or $18/month. So I'm not sure where the $73/month comes from.....


There could be an apples to oranges issue if not all payments are truly monthly.
Anonymous
Post 12/19/2013 13:15     Subject: HOA Fees - why do they vary so much?
In newer developments, developers will often subsidize these services for the first few years to keep fees down so the homes are more marketable.

Older developments may have items at the end of their useful life that need to be replaced, like retaining walls, drainage, trees, etc. Or they may have let their reserves get too low because owners didn't want the fees raised, and then they were faced with having to hike fees a lot to replenish the reserves or pay for a costly project.
Anonymous
Post 12/19/2013 12:56     Subject: HOA Fees - why do they vary so much?
why do housing prices vary?
why doesn't my taco at chipotle cost the same as it does at taco bell?
why doesnt my lexus cost the same as your honda?
Seriously OP -- really????
Anonymous
Post 12/19/2013 12:26     Subject: HOA Fees - why do they vary so much?
Why is there such a variance among houses with HOA fees? I understand that if there's a pool or fitness center associated with the community then of course the fees will be higher. But if the HOA is just maintaining the roads, common areas and trash/snow removal shouldn't the fees be somewhat similar? Do these places have elaborate entrances to the community that cost a lot to maintain?

For example:
HOA: $7 per month
http://www.redfin.com/VA/Springfield/9000-Maritime-Ct-22153/home/9798362

HOA: $73 per month
http://www.redfin.com/VA/Fairfax-Station/8619-Oak-Chase-Cir-22039/home/9800558

HOA: $108 per month
http://www.redfin.com/VA/Burke/6161-Hatches-Ct-22015/home/9740407