Anonymous
12/22/2013 18:16
Subject: Re:HOA Fees - why do they vary so much?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote: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.
OP here. Townhouse is different, they often cover exterior maintenance and the roof.
No not the roof. Almost never is the roof covered.
To the PP, for $100 a month to have your lawn mowed? That alone is worth it.
Guess I got lucky, the townhouse I own has the roof covered so I assumed that was standard. Even if the roof isn't covered, townhouses usually have parking lots that are private property that need to be maintained so it's different than a SFH.
Typically when roofs of townhomes are covered it's because it's a condo style of ownership instead of fee simple where you own the ground beneath your house. Do you know which yours is? Probably doesn't matter either way, but fascinating that your roof really is covered. I've been in real estate a long time and never seen that.
No idea, they also take care of the deck outside the townhouse too and they have repaired part of the exterior door frame too.
Anonymous
12/21/2013 22:26
Subject: Re:HOA Fees - why do they vary so much?
Anonymous wrote:Anonymous wrote: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.
OP here. Townhouse is different, they often cover exterior maintenance and the roof.
Trash pick up, common area/lawn maintence, and snow removal can be costly so that's a given expense. Higher fees for communities with pools, tennis courts, trails, community-lakes.
OP - you can always request a copy of the community's HOA budget and amenity outlines. That might help you figure it out.
Anonymous
12/21/2013 18:40
Subject: Re:HOA Fees - why do they vary so much?
Most two homes are "semi-detached" and the staggering makes the roofs of the homes distinctively different from neighboring homes.
A friend in condo in Burke had to go to her HOA as they discovered their floor wasn't level when they went to replace their carpet with hardwoods. The HOA did cover the repairs. I know of an HOA in NY that was successfully sued because they had no flood insurance and several homes were damaged in Sandy last year. It was the HOA who was supposed to carry coverage in this instance over the property owner. Sadly, they had little reserves and many families were left to cover repairs put of pocket for damages below the water line.
A friend in condo in Burke had to go to her HOA as they discovered their floor wasn't level when they went to replace their carpet with hardwoods. The HOA did cover the repairs. I know of an HOA in NY that was successfully sued because they had no flood insurance and several homes were damaged in Sandy last year. It was the HOA who was supposed to carry coverage in this instance over the property owner. Sadly, they had little reserves and many families were left to cover repairs put of pocket for damages below the water line.
Anonymous
12/21/2013 13:06
Subject: HOA Fees - why do they vary so much?
Anonymous wrote:Sometimes an hoa can be sued, it not that common but does happen
An HOA or condo board can always be sued (for frivolous or non-frivolous reasons), they aren't immune. Not very common but I've seen several cases where a suit was filed, and others where it was under consideration and settled.
Anonymous
12/21/2013 11:18
Subject: HOA Fees - why do they vary so much?
Sometimes an hoa can be sued, it not that common but does happen
Anonymous
12/20/2013 17:06
Subject: Re:HOA Fees - why do they vary so much?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote: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.
OP here. Townhouse is different, they often cover exterior maintenance and the roof.
No not the roof. Almost never is the roof covered.
To the PP, for $100 a month to have your lawn mowed? That alone is worth it.
Guess I got lucky, the townhouse I own has the roof covered so I assumed that was standard. Even if the roof isn't covered, townhouses usually have parking lots that are private property that need to be maintained so it's different than a SFH.
Typically when roofs of townhomes are covered it's because it's a condo style of ownership instead of fee simple where you own the ground beneath your house. Do you know which yours is? Probably doesn't matter either way, but fascinating that your roof really is covered. I've been in real estate a long time and never seen that.
Anonymous
12/20/2013 15:47
Subject: Re:HOA Fees - why do they vary so much?
Anonymous wrote:The $7/mo one is either heavily subsidized by the developer, or, as a PP said, the roads/trash/snow are handled by the city/county.
Yes, if you look at the listing information under proprety/lot details, it states that it is a city/county road. Great for low HOA fees, horrible for street maintenance/repair and snow removal. I have a friend in the Bristow/Gainesville area and snow is never removed from her street as they are so far off any main thoroughfare.
Anonymous
12/20/2013 15:44
Subject: Re:HOA Fees - why do they vary so much?
My townhouse roof is not covered, as the home is considered semi-detached, but, landscaping is.
Anonymous
12/20/2013 09:20
Subject: Re:HOA Fees - why do they vary so much?
Anonymous wrote:Anonymous wrote:Anonymous wrote: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.
OP here. Townhouse is different, they often cover exterior maintenance and the roof.
No not the roof. Almost never is the roof covered.
To the PP, for $100 a month to have your lawn mowed? That alone is worth it.
Guess I got lucky, the townhouse I own has the roof covered so I assumed that was standard. Even if the roof isn't covered, townhouses usually have parking lots that are private property that need to be maintained so it's different than a SFH.
Anonymous
12/19/2013 23:20
Subject: Re:HOA Fees - why do they vary so much?
Anonymous wrote:Anonymous wrote: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.
OP here. Townhouse is different, they often cover exterior maintenance and the roof.
No not the roof. Almost never is the roof covered.
To the PP, for $100 a month to have your lawn mowed? That alone is worth it.
Anonymous
12/19/2013 16:47
Subject: Re:HOA Fees - why do they vary so much?
Anonymous wrote: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.
OP here. Townhouse is different, they often cover exterior maintenance and the roof.
Anonymous
12/19/2013 16:33
Subject: HOA Fees - why do they vary so much?
Anonymous wrote: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.
Bingo.
In addition to costs varying, and potentially HOA documents varying as to what is a common element or limited common element cost and what is up to each owner to pay on their own, you have a wide range of competence in condo & HOA management by boards, from excellent (those that conduct proper reserve studies and accurately forecast expenses and reserves, and collect so that they avoid special assessments), to pathetic (the type that never wants to raise fees or wants to keep them low and then when something happens there is no money in the capital reserves and its special assessment time).
You really must see at least 3 yrs. financials and a year's worth or monthly Board meeting minutes IMO to be able to judge the health of a condo association/ HOA.
Ugh, sorry, horrible typing, forgive the obvious typos in there.
Anonymous
12/19/2013 16:32
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.
Bingo.
In addition to costs varying, and potentially HOA documents varying as to what is a common element or limited common element cost and what is up to each owner to pay on their own, you have a wide range of competence in condo & HOA management by boards, from excellent (those that conduct proper reserve studies and accurately forecast expenses and reserves, and collect so that they avoid special assessments), to pathetic (the type that never wants to raise fees or wants to keep them low and then when something happens there is no money in the capital reserves and its special assessment time).
You really must see at least 3 yrs. financials and a year's worth or monthly Board meeting minutes IMO to be able to judge the health of a condo association/ HOA.
Anonymous
12/19/2013 16:29
Subject: Re:HOA Fees - why do they vary so much?
The $7/mo one is either heavily subsidized by the developer, or, as a PP said, the roads/trash/snow are handled by the city/county.