Home Buying in 21163>Question Details

Ms, Home Buyer in 21163

Why is both HOA Fee and Condo Fee is charged for TownHomes in Waverly Woods?

Asked by Ms, 21163 Tue Nov 30, 2010

For a Town Home in Waverly Woods, they are charging both HOA and Condo Fee amounting close to 250$/Month.

Will they cover any additional services. Is it normal to charge both and that too this much amount.

Is there any way it can be avoided.

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Answers

2
Elliot Ward’s answer
Ms. Home Buyer,

Waverly Woods and the surrounding Ellicott City area have several condominium subdivisions that are also located within homeowner association-managed communities. Waverly Woods is very popular community and I would be happy to provide specific information about the subdivision you are referring to. Please contact me at 410-715-208 or elliot.ward@longandfoster.com.
0 votes Thank Flag Link Tue Nov 30, 2010
I am not sure what town home you are referring to, but some of the town homes in Waverly Woods are condos and some are not. The non-condos pay roughly $40 month in HOA fees, which covers the common area of the neighborhood, the pool, tennis courts, tot-lots, etc. That price is a steal for a pool and fitness club membership.

The condos pay more because with a condo you do not own the exterior of the structure (ie roof and siding) and the care and maintenance of those is handled by the condo ( along with snow shoveling, lawn care, etc.). The condo fee seems expensive, until you think about the cost of exterior maintenance over the life of a home ($5k for a roof here, $5k for siding there, lawn care, gutter cleaning) and realize that it is actually a fair exchange. Also, the homeowners insurance on a condo is usually much cheaper.

I have sold almost every style of dwelling in the neighborhood, so if you have any questions please let me know
0 votes Thank Flag Link Tue Nov 30, 2010
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