Want to live in a townhouse or condo in a hot neighborhood? Make sure you’ve budgeted for several hundred dollars a month in fees on top of your mortgage.
That’s what the Agenda found in a review of homeowners’ or condo-owners’ association fees across Charlotte.
We asked readers to submit information on their HOA dues, revealing eye-popping numbers at properties in Dilworth, Uptown and SouthPark.
Those figures make up the bulk of the information below. Where possible, we verified the figures submitted with real estate listings.
Dues can also vary widely depending on the size of the unit. Larger condos and townhomes typically pay more. Numbers below likely skew toward the higher end of the range.
HOA fees at The Arlington in South End — also known as the pink building — can run more than $700 per month.
Prices are similar at the Met Terraces at the Metropolitan building in Midtown.
It’s only slightly cheaper at The Cherokee in Eastover. Condos selling in the $1.2 million range include HOA dues of $600 to $650 per month. But even lower-priced condos down the street have similar HOA dues. In the 900 block of Cherokee Road, a $200,000 condo still includes $600 per month in fees.
The list goes on. Keep in mind, smaller units may have lower prices:
- The Fifth & Poplar condos charge $400 to $525 per month.
- The Trademark condos on West Trade charge $400 to $575 for larger units, or $275 to $300 for smaller ones.
- Chapel Watch condominium on North Church has dues around $550.
- Fenton Place condos in Eastover are also around $550.
- The Piedmont Row condos in SouthPark run $500 per month.
- Waterford condos in Foxcroft charge around $470.
- The Burning Tree townhomes near Piper Glen charge from $375 to $460 per month.
These numbers can seem shocking to people who live in traditional single-family neighborhoods. These figures are many times more expensive than HOA dues for suburban dwellers, where fees typically range from $200 to $500 per year — if there even is a homeowners’ association.
But to be fair, HOA dues at condo and townhome communities pay for a lot more.
Here, dues typically cover things like exterior building maintenance, landscaping, common areas, amenities, insurance, trash and sewer service and inspections. In many cases, this money also takes care of the water bill.
But they don’t cover everything. HOAs will sometimes use assessments — where every owner has to pony up some money — to cover unusual projects or repairs.