Many people are under the belief that paying the HOA Dues is like throwing money out the window.  Let's consider the costs of Home Ownership that is covered under the HOA Dues.

The following costs are approximate present day costs for a 1500 square foot home.

• Painting the exterior of a home will cost $9000 and has an expected life of 10 years.  That comes to $900 a year or $75.00 a month
• Roof and gutters will cost $12,500 and has an expected life of 25 years.  That comes to $500 a year or $40.00 a month. 
• Professional Landscaping will cost $15,000 and has an expected life of 30 years.  That comes to $500.00 a year or $40.00 a month.
• Gardening Services will cost $50.00 a month. (You might do this yourself but there is still a cost of tools and time)
• Homeowners Insurance will be cost annually $900 for a single family home and only $300 for a condo for savings of $600 a year or $50 a month.
• Most HOA dues includes trash pick up for a savings of $25.00 per month.
• Water is included in many of the HOA dues a monthly savings of $60.00 a month. 

The cost savings combined with the standard Home owner maintenance costs total $340.00 a month:  just about the average HOA Dues for a 2 Bedroom condo in the Bay Area.  In a condo you get other perks; some offer security, pools, tennis courts, exercise rooms, etc.  Yes, HOA dues go up and so does all homeownership costs.  After doing this little exercise I don't believe you are throwing money away.  I think HOA dues cost about the same as single family Homeownership, except it is paid out differently.  Instead of the $10,000 cost at one time when owning a home the HOA is collecting it for you on a monthly basis.  I think it is good budgeting not throwing away money.  By owning a condominium you are giving up some freedom, some privacy but you are getting a much easier way of life.  Recently I had a big bill when I found water in our crawl space.  

With a condo someone does it all for you.   We have all heard about the horrendous HOA Assessments.  That occurs when the Home Owners Association does not have the necessary funds in reserve to cover the needed work.  Several years ago there were some new laws passed so I think we will be seeing less and less of that.   www.leesellsmore.com