Home Buying in San Ramon>Question Details

Coco, Home Buyer in San Ramon, CA

$? HOA

Asked by Coco, San Ramon, CA Fri Jan 21, 2011

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Answers

7
Hi Coco-

What about HOA's are you inquiring?
0 votes Thank Flag Link Tue Jan 25, 2011
Coco,

If you are asking what HOA fees cover, it varies from building to building. In the larger buildings they usually have higher HOA fees because of higher expenses, maintaining amenities, and because a portion goes to building reserves for when components fail.

In smaller buildings the owners frequently opt to pay as they go in order to avoid high monthlies and leaving money on the table when they sell - any money put into reserve accounts stays there when you leave unless there is some written agreement to the contrary. There are arguments for both sides but that is a different question.

Typically HOA fees cover:

Water
Homeowner's Insurance (for the building, you'll still need "walls-in" coverage for your belongings
Building Maintenance
Garbage

Other items that can be included:

Security
Parking
Use of facilities: gym, sauna, etc...
Heat (some buildings have boilers for the building)

If you contact the HOA they can give you a breakdown.

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
0 votes Thank Flag Link Sat Jan 22, 2011
Hello Coco,

One item on my list of things to do today is to write a post explaining HOA fees. Look for it later on Trulia under the Home Buying section.

HOA fees span a wide range of dollars, based on type of home (single family, or townhome or condo) and cover a wide range of services. I've seen them locally from $225 a year to $590 a month. You'll find that the fees are property specific and non-negotiable.

Respectfully,
Vickie Nagy, CA DRE#10363932
(925) 407-7987
0 votes Thank Flag Link Sat Jan 22, 2011
Hi Coco,
What information are you looking for?
Regards,
Suzanne Looker
0 votes Thank Flag Link Sat Jan 22, 2011
Coco,

With more specific information the Trulia Pro's may be able to assist you......$?HOA is quite vague!
0 votes Thank Flag Link Sat Jan 22, 2011
Coco, this is a fees usually associated with condos/townhouses and sometimes with single family homes. This fees pays for any future assessments, current maintenance, community repairs.
Web Reference: http://www.RamaMehra.com
0 votes Thank Flag Link Sat Jan 22, 2011
$ HOA, usually means the monthly payment for Home Owner Association fee. Let me know if this answers your question. We're here to serving you.

Jennifer Chen, Broker
RE/MAX Accord
jchenhome@sbcglobal.net
http://www.JChenHome.com
925-967-0318
Web Reference: http://www.JChenHome.com
0 votes Thank Flag Link Fri Jan 21, 2011
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