But another thing you would want to look into when buying into a condomium complex is whether the owners are putting aside "reserves". Reserves are like a "saving account" to replace the roof eventually and resurface the asphalt in the parking lot and other long term uses.
Some conservative complexes also put aside money for a "huricane deductible fund", rather than assessing the owners when unexpected repairs are needed.
I can help you research the complex you might be interested in. I only work for buyers so you can be sure that I am working for your best interest.
You are "sharing" ownership of the grounds, amenities, and responsibilities for upkeep of the building, roof, etc. If you owned a detached single family property, you would cover those costs by yourself and think nothing of it--the cost of ownership.
Go to http://www.DestinHomeRealty.com for up to the minute market information--tab Market Insider will give you all the demographics for any community you are interested in.
If you don't want to pay fees, then you don't buy in a development where there's an HOA. If you buy in a development where there's an HOA you have committed to paying your fees like everyone else.
Your Realtor should provide you with your HOA documents and a disclosure on what your HOA dues obligation is before you close on the property so you know exactly what you are committing to.
Hope this helps answer your question.
Best of Luck:
CEO & SR Credit Repair Specialist at
Everlasting Credit Repair
Ex-Mortgage Banker of 10 years
There are no exceptions when it comes to these mandatory fees. Everyone pays these assessments or risk having a "lien" placed on their property.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL