Imagine being mesmerized by lavish model homes after seeing the fully staged layouts while the smell of brand new carpet and materials fills the air. You can easily imagine this being your home as you visualize yourself going through your work days and entertaining guests. You review the price sheet and the monthly payment looks affordable.
Then you see HOA dues starting at around $215 a month. Not bad, right?
A few years later, it goes up to $275. Then a decade later, almost triple. What happened?
Let’s see how the 4 communities in Anaheim have compared against each other: Chapman Commons, The Domain, Harbor Lofts, and Stadium Lofts. Newer communities such as 100 West and Alia at A-Town don’t have enough data for the time being, but rest assured — their time is coming as well.
HOAs in general have seen a sharp increase on top of the normal inflation passed along by 3rd party services such as janitorial, electricity, trash, gardener, accounting services, elevator maintenance, etc. But the biggest increases? I’ll have a future blog on what has really skyrocketed.
