Typically they are paid monthly. If the HOA is doing a big project and needs more funds, they vote to levy a special assessment for that project. The monthly dues at this project are $210.00. If you would like to go check it out in person, feel free to contact me directly. It is a really nice project.
McAllister Homes Real Estate
Mello Roos (Special Assessment Taxes) are generally paid bi-annually or in conjunction with general property taxes. These typically cover new schools and parks and recreational areas within a community.
HOA assessments commonly referred to as monthly dues are set by the HOA Board of directors
once a year announced in the annual membership report. HOA dues are usually calculated as
an annual expense, payable monthly. Some CC&Rs may include provisions for a unit owner to
forfeit the option to pay monthly dues ie: if they fall behind/default.
It's hard to not get emotionally caught up with the exiting prospect of owning your own home instead of paying off your landlord's mortgage, still there is much to understand before you make
that huge commitment:
1> Condos are not risk free investments.
2> HOA rules can rub you the wrong way - check them out first.
3> Construction defect litigation is almost expected. If you purchase a new unit or one less than
ten years old, check that out as best you can. If you purchase a unit over ten years old, find out
if there are deferred maintenance issues. And how strong their reserve fund is.
4> Why bother? Multi million dollar "Special Assessments" are not uncommon. Your share could
turn what you thought was a good investment into a money pit! $210/mo. dues may seem fine,
but if it proves to be unrealistic, you'll see that dues rising, so don't bank on it staying so low.
If your unit is new, you can almost bet the developer has under estimated the operating and
reserve costs for long term maintenance in order to sell the units with low monthly dues.
5> Is it less headache to own a condo where you act like a renter when the roof leaks? Well, roof
leaks are hard to dispute, but we know of a place that's had rats and mice since day one, and
the HOA never wanted to spend the money to get rid of them. The owners are still suffering with
it over 12 years later. If your appliances breakdown: stove, microwave, washer, dishwasher,
water heater, furnace, they are normally your personal responsibility to fix. Getting the right HO6
insurance may help.
6> The cost to own a condo should generally not be much different from owning a single family
home of the same size if you could find one. Condo seem to not hold their value or appreciate
as fast as a SFH will in the same location.
7> Each HOA is different, depending on what you want: quiet, family friendly, college kids, or resort
style community. If possible rent there first to see if it's right for you before you buy.
Sherri Dolan GRI Realtor
Westhaven Real Estate Services
Family Size of 2 People = $51,400
Family Size of 3 People = $57,850
Family Size of 4 People = $64,250
Family Size of 5 People = $69,400\
The HOA fee of $210 is payable monthly/
Local Help with Your Real Estate Needs
The San Diego Property Shop
CA DRE # 00648687
If you'd like to see this condo or explore other options in Carlsbad, please contact me at:
Real Living Lifestyles, CA DRE #01435354
300 Carlsbad Village Drive, Suite 224
Carlsbad, CA 92008
Call or text me at: 760-845-4365
This property also has some income restrictions as part of an affordable housing program that you will need to get qualified for. If you have any questions, feel free to call me.
Tiffany Boyd, Realtor
Keller Williams Realty Carlsbad
email Tiffanyhomes @ yahoo.com
The HOA Fees for this property are monthly and include Common Area Maintenance, Exterior (Landscaping), Exterior Bldg Maintenance, Limited Insurance, Roof Maintenance, Termite.
If you would like to see this property or any others in the area please let me know.
Prudential California Realty