“Why Would I Want To Pay A Home Owners Fee For A Salt Lake Condo?”
September 16th, 2007 Categories: Buying
“Why Would I Want To Pay A Home Owners Fee For A Salt Lake Condo?”
In my career I hear this a lot about condominiums. People often object to Home Owner Association Dues known as HOA fees. I found that most people don’t really know what they really are and why you pay them. Typically, an HOA fee will cover, Water, Sewer, Trash, Exterior Maintenance (such as: lawn Service, snow removal.) It also covers hazard and liability insurance for the building. THE MASTER INSURANCE DOES NOT COVER YOUR PERSONAL PROPERTY. It will take care of all the common areas, such as: swimming pools, workout rooms, club houses, playgrounds and equipment. Obviously, the more the amenities the higher the cost.
So then the question is, “is it a waste or a simple trade off?” Well it really depends on the management of 
the community. Remember it is a Home Owners Association, meaning all of the owners are the managers and make the decisions. If the board of directors elected by the Owners is aggressive and runs a tight ship it can be an awesome thing. There is an economy of scales when purchasing things like satellite, cable, Internet services. You will find it is pretty much a wash providing that you would not cut your own grass, shovel your own sidewalks and take care of some minor upkeep on the exterior. For those that have busy schedules or value their spare time too much to do those things a Condo and the HOA fee are a perfect match. If enjoying a good book or relaxing in the great outdoors appeals to you more.
So then the question is, “is it a waste or a simple trade off?” Well it really depends on the management of the community. Remember it is a Home Owners Association, meaning all of the owners are the managers and make the decisions. If the board of directors elected by the Owners is aggressive and runs a tight ship it can be an awesome thing. There is an economy of scales when purchasing things like satellite, cable, Internet services. You will find it is pretty much a wash providing that you would not cut your own grass, shovel your own sidewalks and take care of some minor upkeep on the exterior. For those that have busy schedules or value their spare time too much to do those things a Condo and the HOA fee are a perfect match. If enjoying a good book or relaxing in the great outdoors appeals to you more.Let’s face it when you buy a home you have a homeowner’s fee. You pay your own water, sewer and trash. You have a hazard insurance and the joys of cutting the grass or paying someone. The real difference is you pay it out in multiple checks.
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