Whew $650 sounds more like a second rent check

Anyone who thinks this is bad should never consider buying a co-op or condo in Manhattan.

@Malevolent_bacon

2 ай бұрын

The real answer is HOAs are mostly scamming owners. Period. I've never ever found a single HOA that does anything within reason.

NEVER NEVER NEVER buy ANYTHING that has an HOA!!!! Condo, suburb, ANYTHING!!! You WILL be sorry!

@amireallythatgrumpy6508

Жыл бұрын

True of all American properties with or without a HOA to be honest.

Dave's daughter giving him grief is the best. It brings him back down to earth. The back and forth is good.

@John3.36

Жыл бұрын

She is the Heir to the empire!

@TheSoulCrisis

Жыл бұрын

Yes I love it haha!

@MsJeanneMarie

Ай бұрын

110%!!!

Our house is worth $250k and our HOA is $200 a year. $650 sounds ridiculous for her place valued at the same amount.

@richardwallis9374

29 күн бұрын

My house is worth 620k and my HOA is 80$ a month. I get a members only pool with life guards, a ton of communal gardens and parks in the area with equipment that is maintained, tennis court, driving security 24/7, and most importantly I’m left alone.

@abacab87

22 күн бұрын

There is a big difference between a house and condo. 650 is crazy, my Mom's was considered inexpensive and was around $200 a month. Includes all outside maintenance and covered anything outside like roofing, siding, driveways, etc.

Never pay a HOA fee , don't live where there is one

@austinduke8876

Жыл бұрын

Condos and townhouses aren't really possible without HOAs

@JustinCase780

Жыл бұрын

80% of ALL new builds in the U.S. have an HOA

@AliciaMcIntire

Жыл бұрын

In Texas, that is basically impossible. Since most housing was built less than 40 years ago, it is all HOA

The end of this call with Rachel rippin' on her dad just totally made day LOL

So very glad we found a home near work, family, and church with no HOA.

@blackworldtraveler3711

Жыл бұрын

All it takes is effort.

This is a typical HOA for a high-rise condo in my area (northern VA/DC). I saw a $189k condo in DC with an HOA of $1.1k/month.

@juanrestrepo1017

Жыл бұрын

Exactly very normal for Atlanta and Dallas too. Not sure where baldie here gets his numbers

@MaryBethMcCoy

Жыл бұрын

@@juanrestrepo1017 And Los Angeles...especially high rises and buildings with lots of amenities.

I love Dave’s and Rachel’s relationship on the show together!

As someone who lives in Dallas, I can confirm this is extremely common. Condo prices are suppressed by asinine HOA fees

@JustinCase780

Жыл бұрын

Yes, and this is nothing new. It's been super high for condo owners in Dallas for well over a decade. Papa never heard of this before in Dallas? The caller will get know place fighting it...buyers historically paid it for low prices but that ship sailed.

@darex0827

Жыл бұрын

The people running them are elected amongst the owners. They usually have zero experience in infrastructure management. Recipe for chaos and despair.

@sydneygray1331

Жыл бұрын

Is this per month??

@juanrestrepo1017

Жыл бұрын

Exactly it’s very common - that’s what all Atlanta HOA are if not even above. Where do this people live ? Middle of nowhere Wyoming ? 😂

@juanrestrepo1017

Жыл бұрын

@@sydneygray1331 yes per month

Bring it up at the HOA meeting.

@stevenporter863

Жыл бұрын

​@MrBean I think that is the point. If someone went through the expense and effort to buy and own something; they may feel they shouldn't have to make yet another sacrifice and take the time out of their schedule to go to yet more meetings. All to just to make sure some HOA doesn't make rules or decisions about the very property they 'bought''. That doesn't sound like owning something besides on paper - it more sounds like communal living at private prices.

I couldn't afford a condo! I love owning a house with no HOA rules.

@blackworldtraveler3711

Жыл бұрын

Heck I couldn't afford one of my condos I have now if I had to buy it at today's price.

@One-Crazy-Cat

Жыл бұрын

Me too and I’m a slob. Hahah. Right now I got weeds growing and I have an old office trailer out back and a park model mobile home down the side. Hahah. I’m just fine with hick!

@xfhnhhgjbvcfg

Жыл бұрын

Then you can't afford a house lol

@One-Crazy-Cat

Жыл бұрын

@@xfhnhhgjbvcfg most people can’t afford their houses. I know people spending 60% gross income on a house. I’m at 4-5% my gross and I think that’s bad.

@dancalmpeaceful3903

Жыл бұрын

Owning a house (with NO HOA rules OR fees) IS the WAY to go.

HOA and condo fees are out of control... it's like buying a place and then also paying rent on top of it. Doesn't make sense.

I love how Rachel simultaneously teases and challenges her Dad! Only she would get away with it!! 😅😅

@anthonyfaucy2761

Жыл бұрын

Anyone else would get fired for challenging him like this lol

@cjhoward409

Жыл бұрын

I wonder if she cheated on her husband if Dave would fire her? Because he did that to a former co-host 😮

@jimroscovius

Жыл бұрын

​@@cjhoward409 Ok, troll - First, she wouldn't do that. Second, yes, he'd fire her.

@jimroscovius

Жыл бұрын

I never have, and never will, live where I have to pay an HOA. NEVER!!

@cjhoward409

Жыл бұрын

@@jimroscovius Oh you know her so personally that she would NEVER do that ? Lol I’ve seen stranger things in my time. And I seriously doubt he would fire his own daughter. 😂

This sounds about right with condos, especially in metropolitan areas. I live in Baltimore and I was looking to buy a one bedroom condo in the downtown area, and the HOA fees on the average range from $400 to $700. 🤦🏿‍♂️

@kodjoblacka

Жыл бұрын

@@Mrsmetamorphosis2012 True!

@jofujino

5 ай бұрын

Yes, not new condos (because new condos don't have to pay for the maintenance of the building yet), but that sounds pretty normal for a condo where I live that is currently having to pay for major maintenance work (or pay off loans for major maintenance work). Either that or it might have expensive amenities such as a building security guard + pool + fitness center + landscaper. Hardly unheard of unfortunately, especially because insurance rates are increasing so fast because of climate change and these HOAs are often required to cover home insurance for all of the common areas too. I even saw one building where the HOA fee was that high and the reason it was so high is water and cable is bundled into the maintenance fee (which I would hate as a heavy internet user who never watches cable).

Our neighborhood was $81 a month but has decreased to $75 a month. We have a nice pool some ponds with fishing and nicely kept grounds. All our HOA guys are former marines and financially responsible. We are in Dallas area also (Frisco)

That was me on the show!! Watching this replay was SO funny 🤣If yall have advice, I welcome it! Should I sell the Condo?

@chrismcc6563

Жыл бұрын

Is that 650 a year?

@sppeders1

Жыл бұрын

Best of luck.

@andrewrossnagel9433

Жыл бұрын

@chrismcc6563 $650/month I would imagine. Mine is $300 and it includes everything except electric/gas and whatever breaks on the inside. Roof, siding, water, lawn/snow care and a pool/tennis court all covered. And I still think thats expensive

@toeknee5565

Жыл бұрын

Buy two more of them

@SenorMoneyintheBank

Жыл бұрын

You need to look through the minutes to review why the dues have gone up. You also need to figure out exactly the $650/month covers. Every HOA is different so there's no way of knowing if this is a reasonable fee or not without that info.

GO, DAVE! GO! SERVE YOUR HOA! 😂😂😂😂😂😂😂

In some higher cost of living area $650 is relatively cheap and fees in the $1300 range aren't unheard of, the average condo HOA costs almost as much as an apartment where I live

@donnafontaine2799

Жыл бұрын

I'm trying to guess you live in NYC area...Boston..or somewhere in California?

@Malevolent_bacon

2 ай бұрын

This is called legalized theft.

This banter was FABULOUS

I absolutely love when Rachel picks on dad!

I think the key here is it is a condo. The HOA fees probably include utilities, insurance (not contents), maintenance, property management, capital reserve etc...

Condo HOAs tend to be high because they typically cover exterior maintenance such as painting, roofs, landscaping, etc.

I love their banter at the end 😂

I refuse to pay, or be a member of an HOA. When I’m looking at houses an HOA fee will immediately be a no on the property. I’m not dealing with their craziness. When I OWN a piece of land and the buildings on that land, I will do anything I want on that land and paint my house any colors I want.

@jeffwvu4602

Жыл бұрын

The fact that you're mentioning you want to paint your house any colors you want.. as if they wouldn't be approved, that's why a lot of people want to live in an HOA, that don't want pink and purple houses.. .or lets say rainbow colored houses destroying their home's value.

@TomDavisVideo

Жыл бұрын

@@jeffwvu4602 LOL come on man.... are you an HOA board member LOL

@johndone8045

Жыл бұрын

​​@@jeffwvu4602tfo, thats none of your business, if u dont like it, live in a cave or buy the whole block Hoa is a plague in this country

@ferngrows6740

Жыл бұрын

Emotionally, I'm against HOAs BUT, they have their place. On a $800K place, mine is $100/mo. It covers sewer service, trash pickup, police force, fire department, road maintenance and maintenance of the lakes and common spaces. As stated upthread, it also keeps my neighbor from storing four shipping containers next to me - like my old place. :)

@DBS472

Жыл бұрын

Agreed, don’t have one on my home. However 80% of all new builds in the US have an HOA. It’s actually very hard/regional to find non-HOA homes

I like how Dave just hangs up on people. You’ve said enough, goodbye.

@guillofm

Жыл бұрын

i suspect its a mute only

@michaelluczyk

Жыл бұрын

As the other comment said, mute ❤

@blackonblack...9244

Жыл бұрын

It's like a shadow mute, I've call into the show before. Like you can hear the answer, but won't be able to respond and the call-screener will talk to you. Once you ask your question and they have enough information they give their answer but don't need to carry on a whole conversation. Some people ramble a lot on there, so it help to shadow mute.

@stevenporter863

Жыл бұрын

​@@blackonblack...9244 Never called in but just about to write the same.

@roolyfe

Жыл бұрын

Bye Felicia

As someone who had a high HOA fee once…$455 for a $198k condo…, it included water, cable, internet, pool, maintenance, taxes, etc. They had annual meetings where we as owners could attend and I sold it and bought a house without a HOA

@lot5953

Жыл бұрын

I would like a house without HOA too. Maybe Dave is right. One of my HOA members is a single mom who stays home and has nothing to do so she is strolling around the neighborhood looking for the makeup issue to report

@goofygirl1311

10 ай бұрын

Yeah, I was wondering if her fee might include all utilities, taxes. maintenance, landscaping, trash removal. She really needs to see the breakdown of where that money is going to.

I’m from Dallas as well and property prices are insane. What this lady said is very true . Texas is supposed to be one of the cheaper places to live in. This place is becoming the next California. I definitely won’t be retiring in Tx if things keep going this way.

With an HOA that high, you never own your condo, even if its paid off

This was very funny! Love the energy! :)

@nicoleanagnostou7719

Жыл бұрын

Hilarious

Love this funny poke sticking between Rachel and Dave, all in good fun.

In Florida, some of these condo fees are going up to $1,200 to $1,800 a month for those that don’t have fully funded reserves. Law change after a result of that condo collapse in south Florida.

I’m in Toronto and the condo fees here are ridiculous as well! Just ridiculous!

This is what happens when you don't think it's worth the hassle to go to an HOA meeting..

This is ridiculous, and I'm glad I got involved and joined the board. This is ridiculous!

Best, outro banter ever

I’m not sure why we are talking about HOA fees in a condo (assuming building) like it is an HOA fee in a ranch house….that is a pretty common HOA fee for $250k condo

@juanrestrepo1017

Жыл бұрын

Thank you. Baldie here Lives under a rock 😂

I pay about $300 a month for HOA and they do nothing really for the community

@front331

Жыл бұрын

So what's the point of owning? I rent and pay only twice your HOA fee.

@shachede6828

Жыл бұрын

It’s condo’s not houses usually

@barrymicockner

Жыл бұрын

@@shachede6828 actually that's incorrect communities are charging hoa for houses and town houses

@barrymicockner

Жыл бұрын

@ApplesAndOranges the point is your are paying for the Parks, pools. Club houses, fire pits, bbqs etc

@front331

Жыл бұрын

​@@barrymicockneryes but you're not getting any of those services like this caller but it's required as a homeowner in the city.

I'm with Dave... you can tell me what to do and pay me OR I can pay you and I can tell you what to do. I hate HOAs.

@kajalshekhawat436

Жыл бұрын

Same reason I hated school 😂

OMG Rachel cracks me up! I love when she takes a dig at Dave it's so much fun to watch

My problem with HOAs isn't the size of the fees so much, though it can sometimes manifest itself in exorbitant fees. It's the way they inevitably bring out the inner fascist in those running them. Humans always abuse power. Always. It's in our basic nature as a species, and it's always a risk to give another person power over you. They will always eventually abuse it.

Caller needs to attend meetings.

@genxx2724

Жыл бұрын

Or just read the minutes and documents she receives.

I pay $550 / year in HOA fees. We have 4 miles of walking trails, pool, and tennis courts. Entrance is landscaped 4x year to keep things looking good.

I once looked at a condo in Downtown Houston that was $1,200/month on a $250k condo. High rises generally have that high of an HOA.

@joejoe-bs6jq

Жыл бұрын

Yes. Watched a few Vegas high rise videos and they are the same. For a high-rise, I can certainly understand HOAs and having higher fees. There's a lot more maintenance and care that goes into buildings (shared walls/building supports), sewer systems, electricity, the telecomm rooms must be built out, parking, trash, and other amenities. So, I can see that. But, normal one to three story condos? Can't see why they'd be terribly high unless you are getting a lot of amenities for your money.

I wonder if they were underfunding reserves and had to step up the funding. There are new laws passed since the collapse of the FL condo that prevent underfunding reserves. Insurance has also increased by 200-400%.

Rachel and Dave you cannot say this is mismanagement at all until you know what is going on.

@RN4L1990

Жыл бұрын

It is complete mismanagement if your HOA is raising rates 100 dollars a year without an explanation

@bettysmith4527

Жыл бұрын

It is complete mismanagement if your HOA was so bad with money that they didn't have enough reserves to pay for projects, and instead had to add assessment after assessment to the point that they just had to add it all to the condo fee!

@sobeliever1638

Жыл бұрын

With no explanation is an assumption. She probably did not look into it.

@DoctorSmartyPants

Жыл бұрын

@@sobeliever1638 Agreed!

It’s common for very high HOA’s on condos in Northern Virginia too. So frustrating!

I was VP for our HOA for one year, NEVER again will I do that. Once I punch out of this place if I do that I will NEVER go into another HOA.

@genxx2724

Жыл бұрын

Me too. It was a thankless job. I’m not getting involved anymore. The less you know, the less you have to disclose when you sell. La la la la la, ears covered.

My condo is far cheaper than a house. I cannot maintain a house for the price of the HOA fees and no external repairs

We live in a $400 K condo and our main't fee is $875, most of which is insurance. Our insurance has over doubled in the last 8 years. Also included are other expenses that a homeowner would also have to pay, Water,Sewer, trash, landscape,, Internet, basic cable, and reserves.

But in Texas it is very hard to find a house in a neighborhood without an HOA. It is basically another tax added onto the house because as homeowners in HOA we really have no say. They are usually ran by companies and not the homeowners. Had we known all of this we would have looked hard for no HOA and our next home we won’t live in an HOA (out of the state of TX).

@blackonblack...9244

Жыл бұрын

There's plenty of houses and property without an HOA in Texas. You just have to look.

@nottelling4828

Жыл бұрын

"But in Texas it is very hard to find a house in a neighborhood without an HOA." That's pretty much the norm across the country for any new home. Florida even has CDD fees thrown in there (municipal loans paid off by the home owners).

@stevenporter863

Жыл бұрын

HOAs are the worst. She should sell it. Since it is a condo, not like she owns anything except the four plasterboard walls. Basically an apartment being told what to do along with an extra HOA fee.

@genxx2724

Жыл бұрын

@@stevenporter863 She does own the land, together with everyone else.

@blackworldtraveler3711

Жыл бұрын

I can understand having condo dues because it's tailored to my wants and needs with the security gates/guards,4k cams,heated pools,lawn/landscaping,maintenance of outside condo,tennis courts,heated pools,payroll,etc.... Not into the subdivision of HOAs for houses. Must admit the subdivisions with HOAs look nicer that those without.

Depends on what the HOA covers ? How old is the condo, delayed maintenance, law suit, how many buildings? etc. are they preparing to do a major overhaul of something? And she doesn’t know

@MaryBethMcCoy

Жыл бұрын

She is clueless and should not have called without getting her facts together first. This call was a waste of time because she has not done her due diligence ahead of time.

Lmao the banter.

Yep that’s what happens here we’re in Colorado and some of the HOA’s are in the 700s and they’re just for tiny little condos and houses even houses even have HOAS

@juanrestrepo1017

Жыл бұрын

Yup. That’s how much HOAs are nowadays

NEVER live in an HOA 🤮🤮🤮🤮🤮🤮

One word... begins with an "E" ends with "bezzle". 🤪

I would guess it's to avoid an expected special assessment, probably because the HOA fees were artificially low in the past and then some major renovation popped up (like roof replacement). It's unfortunately common for HOAs to be mismanaged and either substantially overcharge or undercharge.

@getinthespace7715

Жыл бұрын

It increased 200 dollars or 40%. It was insane before they upped it. Lol.

@genxx2724

Жыл бұрын

I’d rather pay a special assessment for something that’s needed, than let the HOA sit on my money and possibly not budget it for infrastructure replacement. They can collect your money monthly and STILL pass a special assessment (“Oops!” with no consequences). I prefer to hold onto my money and invest it so it grows, then pay for things as needed. Most people can’t handle their money properly, though, and don’t know or accept that the building will need things.

@blackworldtraveler3711

Жыл бұрын

@@genxx2724 Same. We've had one assessment in 25 years of $400 a few years ago. Was voted on 95% approved and necessary. Part of my emergency fund/investments covers any assessment that comes up in the future. The board of directors encourage everyone to have an emergency fund regardless even though we have a hefty reserve fund and preventative maintenance. They don't like surprises.

@genxx2724

Жыл бұрын

@@blackworldtraveler3711 It sounds as if you have smart, mature people running your HOA.

@Lon1001

Жыл бұрын

@@genxx2724 I live in a condo and I'm the opposite, I never want to be around for a cash call, especially for something that should have been planned for but was missed somehow. I prefer there be a budget and audits in place to make sure the reserve fund is suitable for the major upcoming expenses (which thankfully my condo has), I also prefer that the cash reserves on hand are being responsibly managed and invested in appropriate funds until needed... the reason I prefer the condo to manage it is because even though people like you are able to plan for yourself, many/most people including fellow condo members won't have this which is why condominiums that dno't have good governance fall into terrible disrepair. Having suitably high condo fees and funded reserves protect your investment.

I live in Myrtle Beach, SC. We have a ton of condos here with HOAs well over 1,000 a month

I have the same problem. Northern VA Condo. . Owe 140K it’s valued at 350K. Purchased in 2009 . HOA has ballooned from $240 per month to $575 per month. It’s currently being rented, which covers HOA & Mortgage (with pulls a little cashflow). Unsure whether I should sell or keep it as a rental

Ahhh, Rachel is hilarious. 😅😂😂

Sounds like this was a very poorly run condo and it caught up them, now the owners all pay!

So what this nice lady forgot to mention is the $650 covers all utilities, common areas, insurance, building repairs ect. It's not like they say "Hey you owe $650, and you get nothing."

@kagnewcobra5228

Жыл бұрын

ALL utilities? Highly unlikely but I suppose possible.

@alex182618

Жыл бұрын

Very few cover electricity. Most buildings where I live cover heat and water. Sometimes gas.

@MaryBethMcCoy

Жыл бұрын

Exactly! This lady did not appear to understand anything about condo HOAs or what her fees are paying for. When I owned a condo, the dues covered everything except electricity.

@dc1674

Жыл бұрын

Mine covers that for about $200/month.

@JackAceINC

Жыл бұрын

@kagnewcobra I live in the Dallas area where this lady lives, I have worked in construction for 30 years, specifically midrise condo and apartment development. What happens is they take an older building that was apartments and never had individual meters for anything and convert them to condos. So the HOA dues are fairly high because all these items are included.

With the high cost of insurance in Florida it is not uncommon to see $600 HOA fees.

Condo fees in my bldg go from around $600 - $1300. Electric & water included. It also has a 24 hr concierge, stores, plus other amenities. We rent so we dont have to pay the condo fee, but we’re considering eventually buying because it’s a very desirable county and pretty much a guarantee we can rent it out eventually. I don’t know if it would be worth it considering the condo fee keeps increasing though.

@mrsmith1339

Жыл бұрын

You rent. Of course you pay the condo fee and the landlord's taxes and insurance.

@Raven-uh5pl

Жыл бұрын

@@mrsmith1339 It would seem that way but our rent is only $1500. If we are paying the condo fee, then our rent is only $200.

Good video

My HOA/community fee is essentially tied to our property taxes, so it scales based on home value. Our community has homes between 200k-20mil, this model seems to work well in my area.

I am HOA Board member in a 55+ over community and we post our monthly financials on the HOA Management companies web portal. Also, the HOA would be required to hold an annual meeting where they present and explain the current and next year’s budget. She had to be asked to attend. We also send a copy of the proposed budget for the following year and any intended increase in HOA fees that will be discussed at our annual meeting. All this information is public knowledge. She first needs to read her bylaws and covenants and learn how her HOA operates and how to find or ask for the information she needs as a condo owner. I agree the HOA fee seems exceptionally high for a $250,000 condo but maybe the HOA never did a reserve study and set aside $$ for future maintenance and capital improvements and are now forced to “catch up”. More to this story for sure.

My parents neighborhood has an HOA. Talk about a pain. I'm glad my neighborhood does not have one.

My HOA dues get me lawn maintenance, and a community free of boats/campers/junk cars parked in front yards.

@Elizabeth_lowkeyluxuries

Жыл бұрын

Amen. And a community free of AirBnBs and random people living next to you for a drug filled weekend of fun lol

@bettysmith4527

Жыл бұрын

My non HOA neighborhood has none of that on the front lawns, AND I don't pay a ridiculous fee or have to follow ridiculous rules!!

Stay away from HOAs.

once you learn about hostile takeovers in HOA's you will likely never buy one again

This woman would never be on air if Dave wasn’t her dad

I live in Houston in a gated community with armed guards and cameras. We also have a community pool and pond with fountains that stays stocked with fish - our HOA fees are $1250/yr and it covers tons. (It’s a house on land, not a condo)

@MrWookie1981

Жыл бұрын

But you pay your own utilities, insurance, maintenance including major repairs like roof, windows etc.. and manage all the services provided. Once you add this all up I bet you are paying more than $650 per month.

I cannot understand how HOA became a thing I would never live in a neighborhood where I paid someone to tell me what to do with my house

@sobeliever1638

Жыл бұрын

I like it, people act like they are breathing down your neck while measuring your lawn length every week. It really depends on the community.

Wow! I have never heard of such high HOA fees!!! That’s insane!! I am with Dave. I hate HOA’s. I don’t want to pay and then be told what to do!!

@DoctorSmartyPants

Жыл бұрын

These are condo management fees. Always higher than regular HOA fees because in a condo situation, you don't own your roofs or walls or land. Those are owned collectively by everyone and therefore your fees are higher in order to maintain those things🎉.

@Curious-Lass

Жыл бұрын

@@DoctorSmartyPants yes, I know. My mom lives in a condo with HOA fees. I know all about them and that’s why I don’t like them. But have never heard of HOA fees that are 6-7 hundred dollars or more! That’s insane!

@MaryBethMcCoy

Жыл бұрын

@@Curious-Lass Condo HOA fees can be that high in major metro areas and usually, the fees are that high because the building often has a lot of amenities and may also include some utilities. Also, if the building is a high rise, the fees are typically high and if the HOA has a renovation project, the fees may include a Special Assessment.

@vickieclark5931

Жыл бұрын

@@DoctorSmartyPants In a condo you don't own your roof, wall, or land? So technically, you never really own the condo then since the roof and the walls are the entire structure. Sounds to me like it would be better to rent one than to own one since your are never the owner of it even if you pay it off.

@DoctorSmartyPants

Жыл бұрын

@@vickieclark5931 That sounds about right.

This happened to my old house when i had a condo. The HOA was stealing peoples money

The fault here is this caller being so lazy she has no idea what it covers; hasn’t asked to see the budget.

That is fairly high but it depends on what the HOA includes, a lot of Florida condo in a similar price range has a +500 HOA.

My parents' condo in FL is $450/month, but it covers cable, internet, grounds keeping, roofing, water, pools, tennis/pickleball courts, and a few other things. Their condo is right around the $250K range too.

@juanrestrepo1017

Жыл бұрын

Exactly - Thank you.

A lot of it is for property management companies. Our HOA is small (18) and we run it voluntarily. Otherwise those companies want like 4K a month to run the HOA.

@genxx2724

Жыл бұрын

Ours charges $400 per month for an 8-unit building with no amenities. We just have a security gate, garage gate, and a little landscaping.

I've seen some Hoa fees in the Chicagoland area around the same price condo with Hoa uproaching 1000 monthly.

Be very wary as a new buyer. Those who have already lived there for 10+ years don't mind higher fees and assessments as they have already built equity and want to be in a good position to sell. Being hit with an assessment and due raises 1 or 2 years after buying is not fun. You are essentially paying for mismanagement and lack or maintenance of the past 10-20 years.

My hoa is $475 a year. They don't bother us. Keep the grass cut and yard clean. You can add any neutral paint color change of the house. New structures you have to ask for permission

My HOA is $280. I live right near Downtown Los Angeles. And that covers all of my utilities water, electricity, gas ect. My building was made in 1923 as well. $650 for a 250k condo? That's crazy. My condo is worth $300k. That's highway robbery.

GTHOT!!! Get the heavens out of there! Like today!!! 😂

It’s just wild to me that somebody would have bought a property and not have even read the HOA fee paperwork they were surely provided at close (or earlier) or have investigated this years ago.

@genxx2724

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Also, nobody reads the CC&Rs. They buy a condo and consider it their “house”, and get angry and resentful when they are stopped from doing things that aren’t allowed.

I live in Dallas. This is highly common.

I'm seeing some condo's with high HOA fees which are used to pay for the builder's infrastructure. Billed outside the property cost to allow people to qualify for a larger loan.

Before anyone can say its too high, what are the amenities? Utility Bills, Maintenance? Playground, Gym? Absent that , the financials are available at the monthl meeting, They are not going to send it via email, because email isn't secure. But, when you ask, it's available. Ours id available at the meeting, from the office, and an online portal.

Friend's HOA used funds to pay for a sun room for one of the board's houses (where conviniently construction halted when financial questions started getting asked) so I'd start checking to see whose getting some new renovations 👀

In Hawaii, most of our condo's have HOA fees (called Maintenance Fee's here) that are way higher than this. In fact, $650 is normal, or on the low side here.

This is why I don't own any properties with HOA fees. I've seen them as much as $2,000 and the only thing provided was a gate.

You can't find a coop or condo in NY less than $800 HOA a month. It's not uncommon for HOA fees to be closer to 1200 a month on long island and in Queens.

Dave's got my vote... Could you imagine the country being on the baby steps...! just what we need !!!

@Trenton.D

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Yeah because it’s totally logical to think you can run a country or world economy like a household. This is why Dave is a financial guru, not an economist.

Our HOA fees are $1,840 a year per house

Meanwhile my HOA in south Florida is $950/mo. Covers water, cable, trash and security

Why would you be paying his own fee month after month this high and not question what it allocated to?. Seriously. 🤨.

Depends on what is incudes with the HOA dues. I lived in a small condo and the dues included electric, gas, air, pest control, building maintenance, cable tv and all maintenance. A 20M house with a $700 HOA is not going to include those items so it is not really a fair comparison.

We don't have the context though of what that HOA cost covers. I live in a condo that costs about $400/month in a cheaper city that covers everything except for electricity. So it covers water/sewage, gas, trash pickup and we have a pool/clubhouse. So to me that doesn't seem like an outrageous price in a big city for a condo that's worth 2.5x mine