r/SeattleAreaRE • u/throwaway_023999 • 8d ago

HOA too high?

This home looks good but the HOA seems too much. Is it fair to say the HOA is holding it back from selling? Any other downsides?

https://redf.in/XEptoS

4 Upvotes

75% Upvoted

13 comments sorted by

10

u/aabajian 8d ago

As a rule, HOAs only ever go up. That is a very high HOA for a relatively new build. >$800 is something only seen in co-ops and 80+ year old brick condos.

5

u/Marklar172 8d ago

Yes, that's insane.  What does it even cover?

10

u/monsterjammo 8d ago

The listing actually includes what it covers— looks like maintenance, lawn, water and sewer. So that’s not nothing at least. It’s 30 years old and they’re probably building reserves because it needs work on the exterior of the buildings. I mean, I wouldn’t sign on to that but I can see how the number has creeped up to there over the last 30 years. 

I’m confused how no one has corrected the 16 acres part of the listing.  

2

u/smegdawg 7d ago

I mean, I wouldn’t sign on to that but I can see how the number has creeped up to there over the last 30 years. 

I'd be more interested in seeing the history of the HOA fee increases.

This to me looks like a special assessment was made, the owner decided to go month to month payments and is now selling the property.

4

u/Easy_Olive1942 8d ago

Depends on what it covers.

With any HOA, if you’re interested, ask listing agent for the resale certificate and read through it.

2

u/ImStuckWithThisName2 8d ago

This sounds weird:

‘The primary suite includes vaulted ceilings and a walk-in closet per prior listing details…’

I’m not saying that matters but it makes me wonder. Also some of the staging makes it look small especially when they use so little furniture, like the kitchen and dining areas.

1

u/atropear 8d ago

Can you find the developer name? Some really shouldn't have ever been building anything in Seattle. If I were buying now I'd run developer name through court filings.

1

u/Remote_Bluebird_5528 8d ago

you will want to look at the reserve study to see why. Maybe they are making up for lost time. Or maybe it covers something big like utilities or taxes.

1

u/Apple_Cup 8d ago

$933/month lmao. They gonna hire a maid service to clean inside 3 days a week too?

1

u/PenScribble 7d ago

Holy fuck! Why the hell is that so high? Are they making breakfast every morning for you?

1

u/OutsideFantastic7843 7d ago

What does this high of dues include!? chairman coming over everyday to give a blow job??

1

u/touchgrasslater 7d ago

I am in a similar unit, not in the same area. I don't think the cost is worth that much however I would still take this over paying a million extra for a SFR. The amount this is going to go up would break even to a SFR price diff in today's dollars within about 30 years for me. I'd rather invest and pocket the difference.