Financing in Orlando>Question Details

Mark, Home Buyer in Orlando, FL

what should i know about urban orlando CDD costs?

Asked by Mark, Orlando, FL Sat May 17, 2008

I have been researching CDDs and have read some mixed reviews about whether CDDs are a legitimate way for a developer to cover infrastructure building costs, or whether some developers are taking advantage of this to line their pockets at the homeowner's expense.

what am i getting in return for this additional monthly cost?

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BEST ANSWER
The CDD is a way for the developer to build the infrastructure like you said, the cost will be paid by the home owner one way or the other, but you need to compare what you are getting for the money vs areas without CDD. CDD's should make the common areas better and should lower the HOA's etc and not line the developers pockets, but as always, buyers find a good realtor and let him do the research. Good luck.
Lars
Web Reference: http://www.KierHomes.com
2 votes Thank Flag Link Sat May 17, 2008
Mark,
Hurray!!!! you are asking the question of an informed buyer.....Community Development Districts present very real issues for today's buyers that need to be clearly understood before making a decision to buy. Essencially this special assessment increases your annual expence to live in the community. These CDD fees do vary from community to community, thus an informed agent will be able to provide you with this information.

Good luck,
The "Eckler Team"
Century 21 Almar and Associates
Venice, Fl 34285
ecklerteam@comcast.net
941-408-5363
2 votes Thank Flag Link Sat May 17, 2008
Obviously you are an informed buyer. Many, if not most homes in the area do not hace CDD. I would shy away from one that does. You never really know what is coming down the pike.
0 votes Thank Flag Link Wed May 28, 2008
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