Home Buying in 34638>Question Details

Richard, Home Buyer in 34638

What is CDD and what is HOA. What is including in each one What is the difference?

Asked by Richard, 34638 Sat Sep 12, 2009

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4
Richard,

CDD means Community Development District. It is a public finance tool that developers use as a way to drive up their bottom line while passing on the infrastructure cost to the future homeowners of a community. They were meant to keep the cost of the home down and spread the infrastructure cost, such as lighting, streets, sewers, sidewalks, water, etc, over 10 years. They are collected as part of your ad valorem taxes. Unfortunately, they never go away since the district will always need money to make repairs, etc. to the infrastructure.
HOA means Home Owner Association. This is the organization that rules the Community and make sure the entry ways are kept up, the pool, parks (if any) are taken care of. and the deed restrictions, if any, are abided by the homeowners. Belonging to it may or may not be mandatory. Its' cost is usually minimal.

Hope this helps.

Bill Szydlowski
The Szydlowski Team
Future Home Realty
813-323-4443
Web Reference: http://www.tampamyhome.com
1 vote Thank Flag Link Sat Sep 12, 2009
Hi Richard!

Also, keep in mind that these fees can go up or down. I would suggest to have an HOA, so your neighbors aren't parking on their lawn or painting their house pink. CDD's are usually in master-planned communities where you see LOTS of amenities, security guards at gates, etc. With the market right now - builders & developers struggling - be careful (they are probably not going to tell you if you are interested in purchasing). Let me know if you would like me to run a search for you including/not including CDD/HOA. I used to work out in your area, so I am very familiar with the neighborhoods. Also, check out the new home links I have on my webpage. Have a great weekend!

Nicole Van Allen
813-966-1571
yourFLhome@kw.com
0 votes Thank Flag Link Sun Sep 13, 2009
Richard,

CDD means Community Development District. It is a public finance tool that developers use to pass on the infrastructure cost of a community to the owners. . They are collected as part of your ad valorem taxes.

HOA means Home Owner Association. This is the organization that rules the Community and make sure the entry ways are kept up, the pool, parks (if any) are taken care of. and the deed restrictions.
0 votes Thank Flag Link Sat Sep 12, 2009
The answer from Lois and Bill says it all. Based on the number of questions you have put on here it seems you are "going it alone". I might suggest a Realtor to represent you to educate and protect you in a transaction. Lou
0 votes Thank Flag Link Sat Sep 12, 2009
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