Home Buying in 91030>Question Details

Lc, Home Buyer in 91030

Is $505 too high for HOA fees for a townhouse in South Pas?

Asked by Lc, 91030 Thu Mar 12, 2009

It covers earthquake, fire, and pays for water. Also covers the usual (groundskeeping, pool)

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Dave Heck’s answer
I just checked out the CEA website to see what it would cost me for minimum coverage and it came to about $50 a month, which seems pretty reasonable. That's for a wood frame structure, built in the late 70's, covered for $250,000, with a 15% deductible. From what I understand only about 12% of Californians have earthquake insurance. The rest of us are rolling the dice.
0 votes Thank Flag Link Fri Mar 13, 2009
I am unsure of what a monthly insurance will cost you for a SFR...

I'm glad that you had a good experience, Mark is a great inspector! We do offer a repeat discount of 10% off of your next inspection (provided it has been less than one year since the last one)... just be sure to ask for this to be applied to the price when you call in for your next inspection.
0 votes Thank Flag Link Fri Mar 13, 2009
Hi everyone - Thanks for the responses. If I re-route the $505 for an extra $100K for a SFR, wouldn't I need to buy earthquake/fire for that SFR (does a monthly insurance run that high?)? I'm afraid that will place me out of my budget. As for bells and whistles, the complex only has a hot tub and pool.

PS - John Larocca - We've used your company before and loved our inspector (unfortunately, there were too many problems w/the home for us to continue). Should we go ahead with another purchase, we'll def call you again (our inspector was Mark H. and he was great). Do you give discounts for return customers?!?
0 votes Thank Flag Link Fri Mar 13, 2009
Once you find the home you want, call my office and we can schedule you with a great home inspector and help coordinate any other inspections you might need!
0 votes Thank Flag Link Fri Mar 13, 2009
That seems extremely high to me. Check out some listings in the area and see what they are charging. If you do purchase the place, you can always try to get elected to an influential position in the home owners association and try to change the fees. Encourage them to have a new reserve study done.
0 votes Thank Flag Link Fri Mar 13, 2009
I did find 6 single family dwellings under $600,000. What's your criteria Lc?
0 votes Thank Flag Link Fri Mar 13, 2009
I'd rather to pay an extra 100K and purchase a SFR...that's basically what a pmt of $505 will get you. AND you know that the $505 will only go up.....IMHO
0 votes Thank Flag Link Fri Mar 13, 2009
That's a hard question to answer. The fact that it covers earthquake is a great, forced option. It is one of the highest fees I've ever seen. I hope the complex has all the bells and whistles!
0 votes Thank Flag Link Fri Mar 13, 2009
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