June 10, 2009
Association Dues and Geneva National
Geneva National is hosting a community Open House this coming Sunday, June 14 from 11-3 p.m. and with over 78 properties available to tour this is a good time to discuss association dues in a gated community. Association dues are always a question when considering purchasing a new home in a maintenance free community. And as you know dues vary based on the community size, location, architecture such as decks and patios, along with its amenities. These points and the cost to maintain your home along with the neighborhood or building you live in are no different whether you are in Chicago, Illinois or in Lake Geneva, Wisconsin.
Some background. Geneva National is made up of individual condominium communities, or neighborhoods if you will, and every condominium community has its own operating budget. On top of that budget is the budget for the Geneva National community overall. Each owner has a monthly bill that includes the association dues for its condominium and then dues for the community. Association dues can range from 390.00 to 762.00 a month for maintenance free living. Single family home owners also pay association dues and they are a flat fee of 261.00-271.00 a month.
Every homeowner in Geneva National shares in the costs of the care and maintenance of 22 miles of roadway, two gated entrances, security, professional management and maintenance, 3 pools, 4 tennis courts , a playground area, sewer and water, garbage (scavenger) services along with insurance for common areas and capital projects. That adds up! We are a small village unto ourselves with close to 1100 homeowners ,1800 picturesque acres of land, ponds, road, and walking paths.
To really bring it home lets take a look at an established condominium community called The Turn. Phase 1 of The Turn is located on the Palmer 8 and its condominium fee for 2009 is a total of 511.50/ month. It is broken down into two figures - $281.86 a month for The Turn and $229.64 a month for the Geneva National community. These pie charts will give you a great visual of where the dollars go to keep the return on your home investment where it should be. And being that this is an established neighborhood these dollars are well defined.
Comparison shopping on association dues will show you that Geneva National is in line with other communities of our size, difference in structures, and care and maintenance of our green areas. I look forward to seeing you this Sunday and remember homeowners pay a portion of their monthly association dues to keep this a gated, secure community. It is in your best interest to tour with an Agent because of the size and operations of Geneva National. Print out these sheets and bring them along. It will be a great starting point!
Posted By: 
Margaret Canfield
Tagged With:
geneva national,
golf course community. condominiums,
lake geneva,
palmer golf course,
the choyce group
and the turn
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