Home Buying in 80247>Question Details

First Time B…, Home Buyer in Denver, CO

How much can HOA fees fluctuate? Is there a cap as to how much can be charged?

Asked by First Time Buyer Girl, Denver, CO Tue Jun 23, 2009

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HOA fees can vary, but are ultimately controlled by the Covenants, Conditions, and Restrictions (CC&R's as they are referred to) that are in place for that subdivision, and the By-Laws in place for that particular HOA. You will definitely want to review these documents as the mechanics relative to the fees and the fee structure will be outlined there.

Kudos to you for asking the question up front---too many people aren't sufficiently concerned about how their HOA works.

Best of luck!
0 votes Thank Flag Link Tue Jun 23, 2009
HOA Fees can vary widely based on how well it is ran by board of directors and property managers. Number of homes can have a major impact as well. The greater the number of homes that are cover means the cost can be spread out and kept much lower. Next, the amenties and condition will make a big difference. Those complexes that have a pool will have a greater costs than those that do not. If the units will need new roofs or painting may have to raise HOA Fees to cover the costs if their reserves are not there. There is not a cap except what the market will bear and home owners are willing to pay before they mutiny. Your REALTOR will be able to help you analyze the HOA costs to see if they make sense.
0 votes Thank Flag Link Tue Jun 23, 2009
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