Just wondering because the MF on our brand new condo is $500. There is no pool and only 60 units. I thought $500 a month was high for brand new construction. I imagine we will be in the $700-$800 range in a few years.
Wow. I am coming across some of these types of communities on line in my search. I think this is crazy. I look at some of these homes/condos and think- what the hell do they (the HOA) do for this kind of money?
They say they do "landscaping" and snow removal and trash and insurance. That's it. Most don't have pools or a gym or a clubhouse or activities or anything at all. They do not even take care of the exterior of the homes/buildings.
In NH, for example, I would not consider what they do landscaping. Some of the communities we looked at - the lawn is barely mowed- brown and barely any bushes or flowers or anything. Nothing impressive to look at.
So- wait. At home it costs us $45 per month for plowing our 700 foot driveway. The town plows our road. Yes- we do have to shovel around our doorways and our deck. Hubby just had to buy a new snowblower last year after like 10-15 years. But we could always hire someone to shovel around our entrance ways if we had to.
At most of these condo associations, they only plow- they do not shovel up to your doorway or even over to your oil or propane tank for the delivery guy!
It costs us $36 per month for trash pick up. We have no landscaping to do as we are living in the woods, except an occasional mow (we do not have a lawn to speak of) and blowing leaves in the Fall- maybe a little cleaning up. I usually put two flower pots outside with some flowers in the summer. BUT, we could get a landscaping company to come out and mow if we needed to, or to do whatever else. Hubby also had to buy a lawnmower last year- after 10-15 years. But- he barely has to use it.
We pay $24 per month for our own security system monitoring. Most HOA's do not have security- some might.
Every so many years sometimes we have to have trees taken down and our driveway sealed. We already have to take care of the exterior (and interior ) of our home so that's a wash. We, of course, have to pay all our utilities/oil/wood/propane and other expenses like internet and TV. Sure, we have to pay to have our boiler serviced and our wood stove chimney cleaned. And we already don't have a pool (though we could get one) or a clubhouse. We have our own exercise equipment in our home.
We are surrounded by beauty- the woods and wildlife and privacy.
Missing- family, friends and an active community setting. Will be difficult to age into due to seclusion. Have to drive everywhere.
Then there are the property and school taxes. Yes- here- very expensive. = $825+ per month right now and rising every year. But- same in an HOA community- you still have to pay taxes. In NH,- they can run $500 per month and up. Other states, taxes are cheap.
So-leaving property and school taxes out of it as it has nothing to do with the HOA fees-
I add this up and for us get $105 per month (with the security monitoring) for the basics and then, of course, extra for the other things I mentioned as they come up- just as you would in the HOA situation anyway.
Even if I throw in, let's say, $100 or even $200 per month for home maintenance.....still don't get to $500 and up
So- $500 per month or more? Crazy town.
I mean- it all comes down to what do they do for the money you pay. That is the bottom line.
I was looking at CCRC's also- most at $3100 - $5500 per month (no care or meals included- independent living). They give you a worksheet to fill in to compare your current living costs with that of the CCRC- for Independent living. Ummm....you can see how that worked out. I am surprised they even give you this worksheet. Must believe most people can't add.
