HOA fees in Florida Explode. $2,000/month for a Condo!

HOA fees across Florida's housing market are exploding. With Condo HOA fees running as much as $2,000/month for certain units.

This is causing many owners across the Florida housing market to sell. Particularly in Miami, where the owner of this condo is "motivated" and has already started cutting the price.
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[PershingDriver]

And that’s why I will never own another home with an HOA

[Ticona]

NEVER, NEVER buy a house or condo that has an HOA

[morganbowman]

$2k for someone to tell you what you can and can’t do with your home…. That’s stupid!!!

[waynesbutler]

What ever politician agrees to ban the HOA has my vote.

[kenarbes]

I've heard anti HOA stories where someone gets fed up with fighting the HOA, talks to others also having problems, and they run for office in the HOA and then vote to disband the HOA.

[The.watcher]

HOA fees never go down, they only go up. It's not "will they go up?", it's "when and by how much?"

[tanjajohnson]

I owned ONE home in a HOA. Two years of the daily drama and my neighbor asked about buying my place for their daughter. I played it cool and said that I would entertain offers. Truth be told, I would have taken a $50, 000 loss to be rid of it. Their 1st offer was $35, 000 over my break-even point. I negotiated for them to pay for the movers to pack, and store my items until I found another place (max one year), and move it to my new home. They instantly said yes, and a week later I was out, and happy. I even bought them a bottle of Dom Perignon for them toast their new home. I left the city and moved to a small town and bought 40 acres with an OLD home on it. Over the next ten years, I bought additional acreage around my initial 40, and now live in the middle of 175 acres in a home I built while living in the old place that was on it (I had to install a septic system, and a bathroom in the old place, it had an outhouse.) I will NEVER live in a HOA again. When I bought my property to build a vacation home on the ocean, I passed on the first 20 to 30 places because they were subject to a HOA. I finally found waterfront property down a dirt road (now it is paved) and there is a HOA that adjoins my property and they are constantly trying to get me to join with them (they hate that they cannot make it a gated community without having EVERY piece of property in the HOA (plus they hate that I park my motorhome next to my house, and I park my Jeep outside my garage, which is against the HOA rules). Occasionally I will have some newcomer to the HOA come up to my place and start "advising" me of my violations. When they find out that I, and I alone am the reason that they cannot become gated, they try to guilt me into joining. I tell them all, that it is in my will that when I am gone, (if my wife survives me, she is of the same mind) the property will sell with a restrictive covenant that the property will revert to the seller if they ever attempt to place it in a HOA.

[chakkakon]

I survived 20 years in a condo with a HOA.
NEVER AGAIN!!!
Warning! DONT EVER DO THIS!!

[tbleeker]

I was in an interview with an HOA in Florida before they would let me buy a house. They wanted to make sure i wasn't a working man. They didn't want a work truck in their neighborhood. Then they asked me and my wife if we were Jewish. They told us that it was a normal thing and that those people are difficult. One of the most awkward meetings I have ever had. I didn't buy the house.

[yourdailydoseofcommonsense]

Anything over 100/mo is too much. 2k+ is absolutely criminal.

[joebullwinkle]

The problem is not only monthly dues, it's also special assessments that can be 10's of thousands to cover newly mandated building maintenance and disappearing insurance coverage.

[kevinharris]

That’s why I’m not a fan of HOA’s. The fact that they can jack the fees so high that it would cause someone to sell is ridiculous. Great job on getting out there and doing what you do!

[bweaver]

When the HOA fee is more than a mortgage, DO NOT

[Tere]

Yup!! No amenities in my community, but we’re paying $435/month! I’m talking no pool, no courts, no community gym, NOTHING! It covers exterior insurance, water, and other bldg. maintenance.

[MrCreative]

In America you don’t own the house even when it’s fully paid off.

[edlasiowski]

Makes you wonder what the HOA is doing with the money maybe an investigation is required

[mysterybuyer]

They are paying a Karen to tell them what to do is all it amounts to.

[jbohler]

The idea of actually paying money for HOA is insane to me. I would never.

[rrodriguez]

You describe exactly what I went through. My small Miami Beach studio apartment (not my primary home) was assessed what amounted to 20% of the unit's value. I sold it before I had to pay any of it. The buyer, from NYC, ended paying for the assessment (WHEW! ) and about a year later got hit with another assessment of almost10% more! On top of that, they are now required to pay for a reserve, something I never paid for.
So glad I sold before all this happened.

[robertthomas]

$2K a month for condo fees? Does the place have a doorman, private security, and gold escalator or something?