This morning we wrote a check to our Homeowners Association (HOA). This is a yearly bill that comes every November. The amount is $877.00. Don't ask me what we get or what it covers. I have no idea. We live in a gated community with a guard so I'm guessing most of that money covers their salaries. We also have a community pool that we never use.
$877 is a lot of money, this is a bill we hate! but we have no choice but to pay it. The money usually comes from our November paychecks. They only take checks or money orders, no cash or credit cards, no ebills or billpay.
On another note, we can't really complain, we have friends that live in a gated community with lakes in their neighborhood and their HOA fees are $1975 per year!
How much are your HOA fees?
Menu Monday
3 hours ago
14 comments:
That is a huge amount of money. While I am not familiar with HOAs, from my vast experience of watching House Hunters, you could check your agreement you signed, or request the list of things it covers from the Association. It would be interesting for you to see what all is covered aside from the guard.
Wow, would love to have your HOA fee! Ours is $350/ month and there is no pool or guards, just a gated community with a coded gate!
Wow! I would love to have your HOA fee! Ours is $350/month and we don't even have a pool or a guard. We just live in a gated community with a coded gate.
350 a month!! wow You probably live in a condo?
That is a lot of money. I am not part of an HOA so I don't have a bill like this. But I do have several recurring annual or semi-annual bills. These are my car insurance and registration and other such things.
What I did was set them up like an escrow account. I set a savings account up (for my car insurance and registration) and each month a set amount of money goes to that account. I put in a little extra (like a real escrow) in case there is an increase. But the goal is to put aside only what I need to cover those bills.
I put aside about $85 a month to cover both those expenses. I love that my credit union allows for named accounts and makes this easy. Just set and auto-transfer and consider it like a monthly bill. Then when the "real" bill arrives, there's no shock to that month's budget. I just move the amount from the savings into checking and pay the bill. I can also remember when a bill is about to be due when the amount in the account grows to the amount I normally pay.
It doesn't remove that nasty $877 bill from your life. But it might make it sting a little less. Putting aside $75 or so each month will hurt a lot less.
I guess that is one positive thing about not living in a gated community.
Does that cover garbage services, lawn care, and snow removal as well as the guard and pool?
My brother pays $125 a month for just lawn care and snow removal, no guard or pool.
Hi Becky! No it does not cover garbage services or lawn care, those are other bills... luckily there's no need for snow removal since we are in Houston and we don't get any snow, if we ever do its not much.
I belive it only covers the guards and the pool...
I know what you mean. Our HOA dues are $850 annually. It covers the clubhouse/grounds/tennis court/pool maintenance. It also pays an administrative secretary to complete clerical tasks, which is really something the board members should be doing but instead someone $20/hour. The send out financial statements annually so we can "see" where our money goes.
OK, I'll just go ahead and admit that I despise the whole concept of gated communities and HOA's. I even find it hard to get behind the concept of Condo fees though I know they are part of the condo package. Maybe it's not the fees so much, as the idea of other homeowners telling me how I have to take care of my property. I have one friend who is not allowed to park her pick-up in front of her home on the city street. Say what?
My sister wants to buy a condo that has $500/mo HOA fees!
That is insane. But it's her life.
I know HOA's are much hated, for some very good reasons, but I for one, am a fan. Sure, it irks me when some board of strangers tells me I have to paint my doors or trim my tree or mow my lawn. Sure, the color of my door is limited to 4 boring, HOA approved paint hues. Sure I'll never have the window box and the fun, gnome filled lawn that I've always wanted (I'm a big fan of kitch)... But, you know what, my neighborhood looks nice and my investment is protected.
The neighborhood few miles down does not have an HOA and, since the recession, it has gone to hell in a hand basket. Houses are falling apart, paints are peeling, lawns are over grown, there're bags of trash outside, etc. Right now they're trying to form some sort of an HOA in hopes of saving the neighborhood.
Oh, and in answer to your question, HOA fee is like $90 a month and it covers trash, snow, lake maintenance, and membership to a huge gym with an indoor pool.
Sorry for the lack of posting but work is driving me crazy! rest assured I'm still here.
HS
Couture Outlet
Being a part of that community and paying the yearly bill, homeowners should be aware of what that bills covered so you'll know what you are paying for. Does that covers garbage and lawn services aside from guards salary? But it's good that you are guarded for you security, others doesn't have that.
We have a rental in VEGAS that is a huge thorn in our side with two different association fees paid monthly and quarterly, for an annual total of $712. The community isn't gated, and it has no pool. I have no idea what they do with the money other than pay for the paper bills they send out to the homeowners and violation notices to people who aren't keeping the weeds pulled out of their rock lawns. Yea, I'm bitter.
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