Home Buying in Rossmoor>Question Details

tabcs, Other/Just Looking in Walnut Creek, CA

what do the homeowners dues cover?

Asked by tabcs, Walnut Creek, CA Sun Apr 20, 2014

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4
Hi,
Rossmoor HOA fees, commonly called the "coupon," cover different things depending on whether the property is a condo or a co-operative unit. The "Mutuals" are the Homeowners Association.

The coupon for the co-operative unit covers maintenance of the exterior of the buildings, landscaping, water, garbage, basic cable TV, use of the amenities (such as the tennis courts, pools, fitness center, clubhouse rooms, movie theater etc) and, if the appliances are original to the unit (or have been replaced and maintained by the Mutual) the Mutual will maintain these appliances. In addition, the monthly "coupon" also includes a charge of 1/12 of the property taxes. Also of consideration, Co-op Mutuals have asset and income requirements that must be met in order to purchase a co-op.

If the property is a condominium, the exterior maintenance of the buildings, landscaping, water, garbage, basic cable TV, and use of the amenities is covered by coupon paid to the Mutual. The coupon does not cover the maintenance of appliances, furnace, or water heater. Individual property taxes are not included in the coupon. Condominiums may also be eligible for Reverse Mortgages.

These differences can make it difficult to compare the purchase of a Rossmoor co-op and a Rossmoor condo. This is where an experienced agent who sells frequently in Rossmoor can help you. The agent must keep up to date with changes in the dozens of Mutuals, each with their own policies and procedures.

It is always best to verify what is covered by the HOA fees in any condo or co-op complex you are considering--there is no consistency and Rossmoor is no exception.

I hope you consider the wonderful lifestyle offered by Rossmoor to active, age 55+ adults!

Margaret Price
Lafayette/Rossmoor
925.285.4559
CalBRE 01888827
mprice@rockcliff.com
http://www.SoldbyPrice.com
Web Reference: http://www.SoldByPrice.com
1 vote Thank Flag Link Thu Jul 10, 2014
The extent of what HOA dues covers will vary from one community to another. Yes, at times it can vary from one area of a community to another as well. Your best bet for accurate information on this is to approach this via a local real estate professional.

Good luck,

Bill
0 votes Thank Flag Link Sun May 11, 2014
That depends on the HOA, how they built the units, and what they have included in them... it will be in your paper work from the HOA.
0 votes Thank Flag Link Sun May 11, 2014
HOA dues are generally for exterior property maintenance, operation and maintenance of community facilities (fitness centers, pools, clubhouses, etc) and possibly certain recreational and community services. If you are considering purchasing a home within a HOA I would suggest reaching out to the Homeowner’s Association directly for specific details about how your monthly dues are allocated.
0 votes Thank Flag Link Mon Apr 21, 2014
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