HIGH HOA fees

[Greg Nelson]

A 2 bedroom, partial ocean view condo with uncovered parking asking 499k has HOA fees almost $12,000 a year!:faint: ISLAMORADA

[photo1902]

A 2 bedroom, partial ocean view condo with uncovered parking asking 499k has HOA fees almost $12,000 a year!:faint: ISLAMORADA

But true

[justjim]

A 2 bedroom, partial ocean view condo with uncovered parking asking 499k has HOA fees almost $12,000 a year!:faint: ISLAMORADA

So, I can agree this is a high HOA fee. What does this have to do with residents of The Villages?

[Cisco Kid]

So, I can agree this is a high HOA fee. What does this have to do with residents of The Villages?

Reminds you that you are living the dream.

[Warren Kiefer]

a 2 bedroom, partial ocean view condo with uncovered parking asking 499k has hoa fees almost $12,000 a year!:faint: islamorada

last time i checked i lived in the villages. How is this post relevent ???

[Bogie Shooter]

Wow, some very critical posts , this Valentines Day.......................

[Greg Nelson]

Be Mine Valentine. The reason is to show the difference....this is Hurricane alley

[virgind]

When we lived down there our house insurance was $10000 so what. Remember an HOA in a condo covers most of your insurance. Also covers your water and quite often covers basic cable. 12000 is not all that bad when you figure all that in.

[bagboy]

last time i checked i lived in the villages. How is this post relevent ???


Last time I checked the OP posted in the Non Villages discussion forum. Seems to me he can post whatever he feels like.

[rdhdleo]

I found it interesting. Why can't we just be kind?

[Greg Nelson]

Close at will...the HOA fees do not cover assessments like the sewer hook up here which is an additional $3600!

[bagboy]

I would think a big chunk of that $1000 a month assessment would be for insurance, hurricane, flood, liability, etc. I haven't seen too many HOAs that actually build up a decent reserve fund for future expenses

[CFrance]

I'm curious. Where are they building condos in Islamorada, Greg? Ocean side or Gulf? What mile marker? We were just down there and saw some building going on ocean side.

[dbussone]

I would think a big chunk of that $1000 a month assessment would be for insurance, hurricane, flood, liability, etc. I haven't seen too many HOAs that actually build up a decent reserve fund for future expenses


I can assure you many do. I was President of an HOA in Las Vegas. Our assessment reserves funded 200% of recommended needs. When the real estate bubble collapsed, our HOA, and many around us, survived.

If you have good advisors, you get what you pay for. They are worth every penny.

[bagboy]

I can assure you many do. I was President of an HOA in Las Vegas. Our assessment reserves funded 200% of recommended needs. When the real estate bubble collapsed, our HOA, and many around us, survived.

If you have good advisors, you get what you pay for. They are worth every penny.

I know much more of what I speak that you give me credit for.

[dbussone]

I know much more of what I speak that you give me credit for.

Actually, I assumed you are well informed. Nothing negative was intended. My comment related to my experience.

[bagboy]

Actually, I assumed you are well informed. Nothing negative was intended. My comment related to my experience.

I think your association was lucky to have you. I'd like to think associations I've been involved with feel the same way about me.

[dbussone]

I think your association was lucky to have you. I'd like to think associations I've been involved with feel the same way about me.


I am sure they do. An interested and informed officer/member is of unlimited value when difficult times approach.

[pauld315]

A 2 bedroom, partial ocean view condo with uncovered parking asking 499k has HOA fees almost $12,000 a year!:faint: ISLAMORADA

I own a couple places in Myrtle Beach SC on the ocean that I rent out. The last one I bought was a 3 bedroom and it cost 170K. My HOA fees are about 650 a month. That includes water, electricity, basic cable, internet, insurance and maintenance of all buildings and common areas which include a waterpark, indoor pool, parking ramps, grounds, towels at the pool areas etc. Also on the grounds are privately owned restaurants, shops and live entertainment venues. I don't think it is too bad a deal when you total everything together.

The point is that you have to look at all that is provided in those HOA fees and determine if they are worth it.

[Greg Nelson]

Our HOA fees in Minnesota are $200/month. That includes water, sewer, garbage, snow removal, mowing, a boat slip, clubhouse and a small pool. An additional $50 a month during the summer for EPA sewer testing. And CFrance we're on the ocean side in a 40 year old 88 unit condo. Some new construction both sides wherever there is room.

[TomOB]

Our HOA fees in Minnesota are $200/month. That includes water, sewer, garbage, snow removal, mowing, a boat slip, clubhouse and a small pool. An additional $50 a month during the summer for EPA sewer testing. And CFrance we're on the ocean side in a 40 year old 88 unit condo. Some new construction both sides wherever there is room.

Which ocean is in Minnesota? I guess I missed that day in geography class.

[CFrance]

Which ocean is in Minnesota? I guess I missed that day in geography class.
He was answering a question I asked earlier in a different thread. Or you were making a joke!

Greg, what is the name of the condo complex? We'll be back down to Sands of Islamorada (to take the dogs swimming) with friends in a couple of weeks.

[John_W]

///

[Greg Nelson]

We are currently renting in The Palms mm79.9 Atlantic side

[CFrance]

We are currently renting in The Palms mm79.9 Atlantic side
Nice!

[coolkayaker1]

Friends in Estero pay $1800 per month fees for a fourth floor condo in a twelve story building, one of two such buildings, in gated complex (which also has some individual homes) with private restaurant, private beach, etc. that they purchased in 2012 for 499k. Yes, you read that right: they pay $$21600 per year in fees (not mortgage, property taxes, insurance for their individual unit, etc: those are all extra)

On the bright side, similar complexes in their building now selling (not listed, actually selling) for $799. Top floors $1million. Even with that fee!

So, yep, some people (not me) willing to pay high fees for superbly secure and lush places with all the amenities.

And, sometimes what seems a "bargain" is not: ever see a Villages home sell for 65% more than it was purchased for only four years ago? No.

[Greg Nelson]

Friends in Estero pay $1800 per month fees for a fourth floor condo in a twelve story building, one of two such buildings, in gated complex (which also has some individual homes) with private restaurant, private beach, etc. that they purchased in 2012 for 499k. Yes, you read that right: they pay $$21600 per year in fees (not mortgage, property taxes, insurance for their individual unit, etc: those are all extra)

On the bright side, similar complexes in their building now selling (not listed, actually selling) for $799. Top floors $1million. Even with that fee!

So, yep, some people (not me) willing to pay high fees for superbly secure and lush places with all the amenities.

And, sometimes what seems a "bargain" is not: ever see a Villages home sell for 65% more than it was purchased for only four years ago? No.

Wows er! A lot more $$ than I have. I talked to an 83 year old man yesterday that rented at Amara Kay next door for 3 months. He got a reduced rate from $250 a day.

[graciegirl]

[

And, sometimes what seems a "bargain" is not: ever see a Villages home sell for 65% more than it was purchased for only four years ago? No.[/QUOTE]


Yes. Not all, nor most, but some.

[dewilson58]

Which ocean is in Minnesota? I guess I missed that day in geography class.

On the Pacific Ocean side..............he can see the Russians too.

[Boomer]

. . .

[Greg Nelson]

Renting for now just makes good sense..both in TV and the beach..hope the boss agrees

[graciegirl]

Renting for now just makes good sense..both in TV and the beach..hope the boss agrees



I dunno. Sounds like someone shy of commitment. ;)

[CFrance]

We rented for several years before getting tired of not having a permanent place to call our own and put things, including the rather large dog. I knew we could go forever before what we spent on rent would equal the cost of a house, but ownership is jut so much nicer. No one can tell you you can't come there next year, or they sold the house, or they (this actually happened) tore it down.

[Barefoot]

We rented for several years before getting tired of not having a permanent place to call our own and put things, including the rather large dog. I knew we could go forever before what we spent on rent would equal the cost of a house, but ownership is jut so much nicer. No one can tell you you can't come there next year, or they sold the house, or they (this actually happened) tore it down.

I agree that ownership is so much nicer than renting, especially if you have dogs.

Being part of a community, knowing our neighbors, leaving our stuff in our house when we go up North for the summer .... priceless.