Coldwell Banker Countryside, Realtors

• Over 10 years of real estate marketing experience, and over 18 years property management experience.

• Virtual Tours, Complete Internet Marketing of all property listings which is the best way to market your property to not only local cliental, but potential buyers all over the world.

• Going the extra mile to find you the perfect property, or buyer for your property, No listing or client is too big or too small that they do not get our complete attention!

Single Family Home - Condominium or Townhouse

There are several costs associated with owning a single family home, townhouse or condominium. The expenses will vary depending on the type of housing as well as on the neighborhood and value of your new home. Please be advised the expenses detailed below are meant as a guideline and may not be all inclusive and the actual cost of the services listed below may be more or less than detailed below.

Homeowners Association Fees - These fees are paid to maintain the common grounds in a neighborhood or development. Common grounds refers to not only landscaping and lighting but up keep of any facilities such as a community pool, tennis courts, etc. Depending on the development or neighborhood other expenses may be paid from these fees. Expenses such as security guards, exterior painting of all homes on a regular basis, landscaping of all homes, cable TV for all homes, etc. Expect to pay between $70 to $400 per month.

Landscaping - If not covered under the Homeowners Association each homeowner must employ a landscaping company to maintain the lawn, trees and shrubs.  The cost of this service on a monthly basis will vary depending on the size of your property and the number and type of foliage. Expect to pay anywhere from $60 to $125 per month on average.

Property Tax - This expense will be billed once a year in the month of November with payment due by April of the following year. There is a small discount for paying your tax bill early. If you finance your new home the property taxes in most cases are paid to the lending institution on a monthly basis and held in escrow to insure that the tax is paid. Since property taxes have an automatic first lien position the lender must insure their security interest is not compromised. The yearly cost can be estimated at between 1.25% to 1.75% of the assessed value of your home. This percentage depends on the neighborhood and in general the cost on or near the ocean is higher.

Homeowners and Flood Insurance - This insurance is to protect your property in case of disaster, such as fire, theft, storm, etc. If you do not finance the purchase of your new home insurance is not mandatory. If your new home is financed the lender requires you to purchase homeowners insurance and if your home is in a flood zone, then you would be required to purchase flood insurance as well. Regardless of whether or not insurance is required it is advisable to insure your investment. The cost on a yearly basis may be anywhere between 0.5% to 1% of the value of your new home.

Utilities - This category includes telephone, electric, water and cable TV. In some cases the cost of cable TV service may be included in the Homeowners Association Fees. The basic monthly charge for Telephone service is approximately $25-30 per month. Additional lines are $5-$10 per month. The average charge for domestic long distance service is $0.07 to $0.15 per minute and $0.45 to $1.00 per minute for international long distance service.   Electric service depends on the size of your house and most importantly on the temperature setting for your air conditioning. Expect to pay on average between $150 to $300 per month for electric. The main factor determining water usage is how your lawn is watered. Many homes draw the water to maintain their lawn from a lake while others use county or city water. Expect to pay anywhere from $40 to $150 per month for water. Cable TV service depends on the number of channels you subscribe to. Expect to spend between $10 - $50 per month for cable TV.

Note:
Please be advised the above is only a guideline and actual expenses and costs may vary.

Condominium Association Fees - These fees are paid to maintain the common areas in a condominium or townhouse. Common areas refer to not only landscaping and lighting but up keep of any facilities such as a community pool, tennis courts, etc. Usually security guards are part of the services included in this fee. Usually if not always a Master Insurance Policy is maintained through the Association. This means you would only need to insure your belongings not the building. In many cases water and cable TV service is included in this fee. Due to the extra services, in particular the Master Insurance Policy, Condominium Association Fees are higher than Homeowners Association Fees. Expect to pay between $200  to $900 per month.

Property Tax - This expense will be billed once a year in the month of November with payment due by April of the following year. There is a small discount for paying your tax bill early. If you finance your new home the property taxes in most cases are paid to the lending institution on a monthly basis and held in escrow to insure that the tax is paid. Since property taxes have an automatic first lien position the lender must insure their security interest is not compromised. The yearly cost can be estimated at between 1.25% to 1.75% of the value of your home. This percentage depends on the neighborhood and in general the cost on or near the ocean is higher. Since many condominiums are on the ocean the property taxes would be on the high end of the scale.

Homeowners and Flood Insurance - In most cases this expense would be covered by a Master Insurance Policy paid through the Condominium Association. Your only cost would be for insuring your belongings. The cost for this insurance should be minimal.

Utilities - This category includes telephone, electric, water and cable TV. In many cases the cost of water and possibly cable TV service may be included in the Condo Association Fees. The basic monthly charge for Telephone service is approximately $25-30 per month. Additional lines are $5-$10 per month. The average charge for domestic long distance service is $0.07 to $0.15 per minute and $0.45 to $1.00 per minute for international long distance service.  Electric service depends on the size of your residence and most importantly on the temperature setting for your air conditioning. Expect to pay on average between $125 to $250 per month for electric. Cable TV service depends on the number of channels you subscribe to. Expect to spend between $10 - $50 per month for cable TV.

Note
Please be advised the above is only a guideline and actual expenses and costs may vary.