Condo Fees & Dogs??

Those are per month. Especially along "condo row", where many of the projects are 25 to 35 years old, homeowner associations have to charge high association fees to cover sky-high maintenance costs and steep hazard insurance premiums.

If I'm not mistaken, I read somewhere that one association was paying over $1,500 per unit per year just for hurricane and earthquake coverage. If that is typical, then disaster coverage alone makes up $125 per month of the monthly fees you are seeing.

Condo fees, as "SailAway", says are very high in the Virgin Islands. On St Croix, Villa Madalaine condo owners pay over $1300 per month ($15,000+ annually) just in condo dues,and insurance. Even the moderatly priced Reef condo owners pay nearly $12,000 per year in fees.

While there are some condo associations with lesser fees, they are usually going "naked". That is they are self insured and risk future assessments to pay for storm damage

Most condos CC&Rs do not allow large pets, however there are exceptions.

Thanks Stxer and SailAway,

I was hoping that was not the case - I was in denial!! Looks like purchasing a home might be the way for us to go.

Peace!

Not to rain on your parade, but wind insurance on a home is also steep, depending on the construction 2-3% of value per year - Bob

Fees are high, but not qute as high as you stated at the Reef. The monthly fee for a two bedroom unit including insurance is $800 per month = $9,600 per year. One bedroom units are about $100 per month less.

You have to look at what is included for your money at the Reef, private beach, pool, golf course and tennis courts.

This in addition to an on site management team and facilities management staff.

Other factors driving up costs, is the need to operate your own sewage system and water plant.

All things considered fees aren't that much higher than what you would pay for a condo in a high rise building in Chicago.

Jim

On St Thomas, there was one condo association that allowed small dogs, but I understand that the association has changed the rule to allow one small dog for owners only. Some allow cats (Mahogany Run) and some prohibit all pets. Check BEFORE purchasing.

Jim
sorry i checked my notes and found that the Reef condo fee I quoted (as told to me by an owner) included taxes, water and extra maintenance, contents insurance and maybe even houskeeping.

You make a good point when you say that the fee includes a lot of benifits.and services.

The number is in the ball park.

Contents Insurance = $1,200

Taxes = $800

Elec & Water Paid to Reef = $80 - $150 per month. Billed for actual usage.

Maid Service = Depends on how often and who you hire if anybody.

Jim