Quote:
Originally Posted by MAXUM
That may be true as a homeowner there are carrying costs to consider however YOU have total and complete control over who, what and when things are done.
Associations are notorious for being poorly run and not being terribly cost efficient.
There is no way in hell Lands End is worth 12K a year in association fees. It ain't that pretty. Awful lot of suckers in there stroking checks for that every year.
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I fully agree with your statements.
I certainly would not look at places in Lands End with that fee.......
You do have to be very careful when you look at buying into an association. I have learned a lot through my condo adventures. While I have ended up owning in two very well kept and very well managed facilities, there are many that arean't. I would be hugely skeptical of any place where the condo fees are over 300 or four hundred dollars.... Even Johnathan's landing at 700$+ seems not quite right.... But some people want to have access to the water that bad...
When I look at my most recent purchase, I consider the following......
Basic cable and internet is going to be 100$ month easy
Even a Planet fitness membership is 10$ per month -- This associate has a nice little hardly used Gym.
The onsite management and Maintenance crew is very helpful and takes care of most issues very quickly... Pricelless
Trash and recycling is taken care of --- I recall this cost me as a single guy 10-20 $ per month when I had property where I had to pay for that service
A pool in the summer to swim in -- a fancy Gym with that kind of facility would be another 40 or 50 $ per month on top of a basic Gym...
With that said I am at 160$ worth of benefits for my condo fee... which is 440$ per month... 440$ - $160 = 280$
So for 280$ a month, I don't have to own or maintain a lawn mower, worry about when the house needs painting, clapboards replaced or a new roof....and my insurance costs are considerably lower.... A great condo policy is only $200 - $300 per year.
As I have said before it isn't for everyone. If I didn't have a second home be it on a lake or not, where I did have control I might not think that way... But I get to spend more time at the lake, enjoying that place because I own a condo to live in full time...