Home Buying in 34698>Question Details

bmcguiness, Home Buyer in Selkirk, NY

What would be the average for HOA fees for condos in Dunedin? Is there a cap on how high these fees can go ?

Asked by bmcguiness, Selkirk, NY Mon Nov 25, 2013

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BMC,
That a tough one. For instance, communites like Villas of Seagate or Belle Vista have monthly fees appraoching $1,000! There is no cap. These fees will diffinately go up or they will add assessments.
Both of these communities are waterfront and clearly in the flood zone.
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Communities such as Douglas Arms, Patrician Oaks and Mediterranean Manors will have fees for non-waterfront, between $200 to $350 monthly depending on size.
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Edgewater Arms, another waterfront community with incrediable 'big water views". has a $550 (approximately) monthly. This community is near downtown, adjacent to the marina and I've got one for $259,000 that is well tricked out and is a corner unit.
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Be aware, there are other communities of villas with maintenance fees close to $100 just off Virginia Ave. These communites provide no amenities such as community pools or recreational facilities.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
Move to the Front of the Line
(http://FirstLookHomes.us)
0 votes Thank Flag Link Mon Nov 25, 2013
The most important thing about condo fees is what they include and how well the condo reserve account is funded. Fees can range from about $200 to over $600 per month depending on these two issues. It also makes a big difference if there are recreational elements included in the fee. Each property is different.
0 votes Thank Flag Link Mon Nov 25, 2013
Bmcguiness,

Condos on the water with waterfront amenities are obviously going to be higher than a condo inland with fewer amenities. Fees are based on the cost to run the community. Active involvement on a board allows any homeowner to keep and eye on it and be a part of the process. A condo in a flood zone will be higher due to insurance. There are issues currently on how the Biggert Waters Act will ultimately effect flood insurance rates, but due to Katrina and Sandy they are going up for all of us.

Most associations have a cap on how much a budget can go up in a year, but if an emergency repair or insurance issue came up, the community could have to look at a potential assessment. This is why it is important when going through the due diligence process of buying a condo to get a copy of the condo disclosure, budget and financials to see what condition the association is in and the particular unit you are purchasing.

I feel an informed client makes the best decisions regarding their real estate needs. Let me know if I can be of assistance.

Sincerely,

Pam Cohn
Broker Associate, GRI, SFR, NHS
Real Estate Consulting, Marketing & Sales
Prudential Tropical Realty
2539 Countryside Blvd #3 Clearwater, FL 33761
pcohn@prutropical.com
727-204-7155c
0 votes Thank Flag Link Mon Nov 25, 2013
Thanks for the info Pam. I am considering buying a condo in either Dunedin or Saftey Harbor at some point. I would like to be able to rent out the condo when we are not using it. Is there a good rental market for condos in those two areas? Would it be easier to rent out a single family house? Do you have any recommendations on which condos would work best for what I am trying to do, that way I can keep an eye out for them on Trulia. I am looking to spend in the range of $100-150K
Flag Tue Nov 26, 2013
Good Afternoon,

It really depends on the price point and what is included. If you had a specific complex I would be glad to let you know what the fees are and what it includes. They typically are a couple hundred dollars but again it can vary.

Be glad to assist

Doug Bevis
Coldwell Banker
Top Producer
2012 Million Dollar Club
813-310-4454 (cell)
teambevis@gmail.com
http://www.FloridaMoves.com/Douglas.Bevis
0 votes Thank Flag Link Mon Nov 25, 2013
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