Property Q&A in Jacksonville>Question Details

Veronica, Home Buyer in Jacksonville Beach, FL

How much is the HOA fees?

Asked by Veronica, Jacksonville Beach, FL Sat Feb 27, 2010

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This question is about this property: http://www.trulia.com/property/1079146102-12994-Surfside-Dr-…

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Good Day,

This Condo is priced a little higher than most are going for. The reason is the low fees. Most complexes have them total in the range of $400 or more. Since these are $200, that is good.

When you buy a condo, look at the total cost to own, and compare it to a stand alone home ( a small one). Here the cost is $80K. Then add $6 per thousand for the total fees, 200/6 = 16. The fees are the same as if you purchased an extra $16K in actual home. So the value of a small home, to compete, would be $96K, and that is about right.

Regards,
Blaine Rabe
REMAX Specialists
904-874-0814
0 votes Thank Flag Link Sun Feb 28, 2010
The monthly Association Fee is $164.44, and the CDD fee is $51.24. The CDD fee is an Ad Valorem Tax which is billed annually with your property taxes.

If you bought this unit with a mortgage with an escrow account, then the CDD fees would be paid along with your property tax bills. The Association Fees would be billed by the Association handling the property.

See my blog below for an explanation of what a CDD is.

Sharon Alters, CDPE, GRI
Watson Realty
904-673-2308
http://www.teamalters.com
0 votes Thank Flag Link Sat Feb 27, 2010
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