So we are kind of looking at houses here, maybe to buy one. We might in the near future have a chunk of cash to invest and it might be good to invest in a house here, where we used to live or some place we might want to live down the road if/when we can ever retire. If the house is elsewhere than here, we would rent it out. If here, we would live in it. Can't really go into more specifics about things for a few months, but will keep everyone updated as I can.
So, like I said, we are looking at houses here. They are definitely less expensive than houses in Southern California. What you can get here, more square feet, etc., would cost at least one hundred thousand dollars or more in Southern California. You truly do pay for the privilege of living in Southern California, mainly for the weather and the beach.
Yesterday hubby was looking at some houses here on the internet. He was doing one of those calculator types of things if you put down this for a down payment what your payments would be over 30 years, etc. What we might put down over a 30 year loan, adding on home owner's insurance and taxes, would be a reasonable amount, merely a few hundred dollars.
you added on in this particular housing development the home owner association fees. Honestly, we thought it was a misprint until we did some checking and found out indeed it was true.
I'm sure a lot if not all of you are aware of homeowners associations. You pay dues monthly, or maybe quarterly or yearly and you might or might not get some benefits being associated with the homeowners association. We are currently living in one with the house we are renting (and come back and see G and H and R for my A/Z challenge and you'll see what I think of them).
This particular house hubby looked at was 1912 square feet. Three bedrooms, 3 baths. Kind of a cute arrangement in that there was a separate building that had a bedroom and a bath (they called in the in-law suite). I would call it "the guest bedroom." Nice corner lot. Fenced yard pretty much all the way around if one wanted a dog down the line (and the jury continues to be out if we want another dog).
for the homeowners associated fee. I kid you not.
It was $421 a month.
Yes you read that right.
We double checked on the official homeowners' association site and indeed that was the monthly dues/fees/highway robbery; call it what you want.
Close to $5000 a year......
What did that $5000 get you? Well the association would pay for the maintenance of your landscape for the year. And you got to use the club house with the pools (one indoor, one outdoor), the tennis courts, the exercise facility.
But $5000???? We drove around the neighborhood and saw at least 6 houses for sell. Some had "reduced price" advertising. I'm thinking a lot aren't selling because of that outrageous fee.
Would you pay that much for a homeowners association fee?