Home Buying in McGregor>Question Details

Dave, Home Buyer in McGregor, Fort Myers,...

How much are CONDO Fees?

Asked by Dave, McGregor, Fort Myers, FL Wed Feb 2, 2011

Help the community by answering this question:


Dave thanks for posting your question. Condo fees vary between communities.

If you are in fact going to purchase a condo, there are larger issues to consider before making an offer. The biggest has to do with financing. If you are financing a condo, especially in southwest Florida please remember that not all condo communities are eligible for financing. Others are, but sometimes the buyer is required to put down much more than 20% . Sometimes it's up to 75%. Banks are still relatively afraid of condos depending on where they are and the health of the HOA.

That, coupled with the fees that a particular development charges will be an indicator of whether or not you can finance your condo. There's alot to know. I have seen many deals fall apart when agents and buyers make offers and don't have answers to some of these really important issues in advance. If you're a cash buyer, then disregard the previous info but keep in mind that you will want to investigate the financial health of the homeowners's association.

If you'd like, feel free to call me at 239-222-2727 or e-mail me at tomosellsrealestate@gmail.com

Thanks Dave!

Tom Olson,
Sandals Realty Fort Myers
0 votes Thank Flag Link Wed Feb 2, 2011
First you need to check the financials of the HOA so that you know the community is stable. You also need to find out what you get for your fees.
0 votes Thank Flag Link Wed Feb 2, 2011
As all of the others have mentioned, fees vary by community. If you can provide me with the address of the property you are inquiring about I will be able to answer your question.

Terry McCarley, Realtor®, CDPE
Jones & Co Realty
email: leecountyrealtor@earthlink.net
cell: 239-707-4575
0 votes Thank Flag Link Wed Feb 2, 2011
hi terry, tghe condo I,m looking to buy is 47 nolan cir manchester ct 06042, how much condo fee am I expected to pay thanks, Mona
Flag Mon Jul 23, 2012
hi terry, tghe condo I,m looking to buy is 47 nolan cir manchester ct 06042, how much condo fee am I expected to pay thanks, Mona
Flag Mon Jul 23, 2012
Fees vary complex by complex, if interested in knowing about a specific property any local agent can help you consider a call, or if you know who management is contact them directly.
0 votes Thank Flag Link Wed Feb 2, 2011
Fees vary......which community are you looking at?

0 votes Thank Flag Link Wed Feb 2, 2011
Each property stands alone for the HOA fees have your buyers agent fact find on your behalf.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Wed Feb 2, 2011
If you can provide an MLS # or address, the Trulia community can be better able to answer your questions. Here is a resource to view active listings in the McGregor Boulevard corridor: http://www.greaterftmyers.com/mcgregor-boulevard.php

Good luck with your search!
0 votes Thank Flag Link Wed Feb 2, 2011
What development are you looking at? Condo fees vary by location.

A deed restricted community is where the community has a homeowner association that has rules and regulations pertaining to the use of land and the look of the neighborhood. Usually it is initiated by the developer. Most deed restricted communities require a homeowner association fee to continue the upkeep of the community.

Each deed restricted community has different rules. Deed restrictions can include the size of home allowed on the lot, paint colors for the exterior of the home, as well as lawn maintenance, landscaping, and some even regulate tree-cutting. Some communities do not allow the storage of campers, trailers, or cars that don't run or vehicles with company names or logos on them. They can dictate what types of materials a fence can be made out of, or even not allow fences at all. Another restriction might be regarding pets. Some will only allow one pet or limit the breed and size of the pet. Building additional structures on the lot such as a shed or gazebo can also be restricted.

Some of the benefits of living in a deed restricted community are that amenities are often included. These can be anything from golfing, use of swimming pool, tennis courts, a fitness center, or even a club house. These amenities are owned by the members of the community and are common ground. Another benefit is that communities with deed restrictions maintain their value and are more desirable to potential buyers.

It is important to be aware of the deed restrictions on a property before making an offer. If you are thinking of buying a home in a deed restricted community, you will want to get a copy of the deed restrictions before you buy and read it over carefully. These can either be obtained from the seller or directly from the homeowner association.

Tammy Hayes, Realtor, Sandals Realty, Punta Gorda, FL - tammyhayesre@gmail.com
0 votes Thank Flag Link Wed Feb 2, 2011
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