Financing in Phoenix>Question Details

Meg, Home Buyer in Phoenix, AZ

how much is the association fees for townhome? is there a cap?

Asked by Meg, Phoenix, AZ Tue Jan 18, 2011

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11
Very good question. A call to the HOA is a start, but the document that controls is the Declaration. I have seen HOA management companies get it wrong time and again, and strongly advise clients to get the advice of an attorney on this issue ... have them review the Declaration and give you a solid analysis of the potential for high special assessments and/or regular assessments.

It just so happens that I'm an attorney and licensed agent in Arizona, and I'd be happy to provide this service for you if you feel it would be helpful. Feel free to contact me at your convenience.

Thank you.
Web Reference: http://www.twhlawfirm.com
0 votes Thank Flag Link Mon Feb 14, 2011
There are really only ranges, not a Cap. Check with the Association directly for exact numbers on that community. An average can be anywhere from $60 a quarter or $150 a month. So be carfeful and check with an Agent. Most agents put the HOA dues on the MLS listing to help.
0 votes Thank Flag Link Thu Jan 27, 2011
Meg,

Do you have a specific property that you are inquiring about? I will look it up for you if so. Otherwise, they vary depending upon the property and/or subdivision. A single family home that is in an association can have a lower fee than a townhome as the townhome normally has more being taken care of than the single family home. Areas differ as well. You could have a townhome with a $135 HOA fee, and a similar one in Scottsdale for $285 monthly. Some homes are around $35 to $50 and that does not include much other than common area maintenance and management fees.
0 votes Thank Flag Link Thu Jan 20, 2011
Dear Meg:

Good question. No limits on HOA fees. They vary based on the services provided (roofs, garbage, pool, clubhouse, common area, insurance etc etc). In addition to the fees, there may be special assessments when special repairs are needed. The advantage? You live in a well cared for and consistent area. The buyer must weigh the advantages/dis-advantages.

Your Realtor will be able to give you the information for a property that you are interested in.

May I wish you the best.

Jeff Masich
Arizona Homes and Land
HomeSmart
Scottsdale
Web Reference: http://ArizonaHomesLand.com
0 votes Thank Flag Link Tue Jan 18, 2011
Meg in addition to the monthly fees you may want to check into reserves and current condition of the buildings. I know of a condo association where they had a few forclosures because the buildings needed repair. They came out with a 3200.00 annual special assesment that ran for 3 years. Some people could not pay and were forclosed on.
0 votes Thank Flag Link Tue Jan 18, 2011
There is no cap in the state of Arizona. Many HOA's do have regulations that cap the percentage of increase allowed year-to-year unless otherwise approved by vote of the members (the homeowners).
0 votes Thank Flag Link Tue Jan 18, 2011
Every HOA is different, & you can find them with SFR (single family residence), condos, & townhomes. They can range in price & services they offer & no cap that I am aware of other than if too high the market will not allow them to continue. Each HOA has it's own rules & price structure so if you are looking at a specific townhome you need to see their HOA rules & fee structure.
Good luck.
Spirit Messingham
Tierra Antigua Realty
0 votes Thank Flag Link Tue Jan 18, 2011
Meg

Association Fees do vary widely depending on the amenity level and the overall structure. The Associations that provide common area maintenance and not much else tend to start around $50 and run up into the hundreds when you get gated with pools, tennis courts etc. Many of the townhome associations also provide roof and exterior maintenance so depending on your need this may be good or bad.

Arizona does not have any caps on what the Home Owner Association's can charge. The Arizona legislature may see a bill this session that intends to limit the transfer fees they can charge at the time a unit sells.

Let us know if you have any other questions.

Doug McVinua
HomeSmart

Arizona Homes for Sale by a Guy from Iowa
Web Reference: http://www.McVinua.com
0 votes Thank Flag Link Tue Jan 18, 2011
We'll need the property address and unit number to help. Some places have HOA fees that are the same for all homeowners and others base the fees on the square footage of the town home.

You can emiail the info to one of us directly or repost your question with it.
0 votes Thank Flag Link Tue Jan 18, 2011
Meg,

They vary so you'll need to provide the property info.
0 votes Thank Flag Link Tue Jan 18, 2011
HOA fees vary from place to place, depending on what ammenities are offered. (i.e. if there's a pool, clubhouse, etc) Usually the more ammenities, the higher the HOA dues. Do you have a specific property you're inquiring about? I'd be happy to put you in touch with an agent in your area.
0 votes Thank Flag Link Tue Jan 18, 2011
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