I am looking into buying a House in Orange County CA and like I really want to buy a single-family detached home there but I fell in love with a townhome and I would like to know if once you have paid for the entire house if you still have to pay somwething every month. Because it has got a community pool, spa etc...
2006-07-22 23:22:52 · 7 answers · asked by miami09 1 in Business & Finance ➔ Renting & Real Estate
Yes, you usually have to pay a maintenance fee every month.
2006-07-22 23:28:48 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I don't know the specifics in CA, but I do know people who own townhouses or condos in other parts of the country and yes you will have to pay a monthly fee to an association in order to pay for the upkeep of the grounds, expenses of having people clean the pool and spa and general upkeep of the "public" areas; the areas all residents can use. Hope that this helps. Have a nice day!
2006-07-22 23:31:41 · answer #2 · answered by Sue F 7 · 0⤊ 0⤋
Yes, typically you have to pay monthly Association fees (sometimes called "condo dues," "townhouse dues," or "maintenance fees"--all of which mean the same thing). Depending on how upscale your development is, this may be anywhere from $100 to $500 per month. The Board of Directors, residents themselves, who you and the other residents elect, are then responsible for using those fees for the common good of the community--landscaping, snow removal, sometimes private trash haulers, attorneys' fees for suing your neighbors who don't pay their dues, pool maintenance and life guard, spas and hot tubs, upkeep of the community building etc., etc., etc.
2006-07-22 23:27:43 · answer #3 · answered by brian_hahn_32 3 · 0⤊ 0⤋
Yes, you have to pay something called an "Association fee".
If you need an agent to represent you, let me know, I will split my commission with you up to 5k.
My license number is 01737366 which can be verified at www.dre.ca.gov. You can also search the MLS in Orange County for free on my website: www.amirifinancial.com.
Regards
2006-07-23 00:15:15 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You will have monthly homeowners dues to pay for the communal stuff. Depending upon how you want to look at it, property taxes and possibly Mello-Roos assessment districts as well, although those are usually actually paid semi-annually, for most folks it works out to setting so much aside per month.
2006-07-23 05:07:34 · answer #5 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
Yes, because I am paying for it every month.
2006-07-23 00:27:31 · answer #6 · answered by SweetBrunette 5 · 0⤊ 0⤋
Yes, its called AMORTIZATION.
2006-07-22 23:26:58 · answer #7 · answered by Equinox 6 · 0⤊ 0⤋