HOA’s are becoming more and more popular in Austin. In the 1980s and 1990s, few new single family home developments belonged to mandatory HOA’s. Today, virtually every new development has a mandatory membership in an HOA. Which usually begs the question from most buyers, how much are HOA dues in Austin?
HOA Dues Vary by Neighborhood
There is no set rule for how much HOA dues are. Each neighborhood has their own fee structure and it usually depends on what types of amenities are included. Neighborhoods with community pools, gated access, guard gates, marinas, fitness centers and activities for members tend to have higher dues than neighborhoods whose HOA’s simply manage the common areas and monitor rules.
How are HOA Fees Calculated?
Some neighborhoods calculate HOA dues by home size, but most calculate HOA dues by parcel. Typically each homeowner will pay the same amount if they live in the same neighborhood, no matter what size home they have. In some larger neighborhoods, HOA dues can vary by section of the community, so you’ll want to watch out for that.
When Are HOA Dues Paid?
Again, this varies across neighborhoods. The majority of neighborhoods collect on a monthly or quarterly basis. Others collect on a bi-annual or annual basis. Of course, you can always pay your HOA dues more frequently or upfront if you’d prefer. Many of the HOA’s can set up an automatic bank draft so you don’t have to remember to pay them.
What Range Can I Expect to Pay for a Single Family Home?
Typically HOA dues are anywhere from $400-$800 per year. You’ll find a few neighborhoods around the Austin area who have slightly lower or higher HOA dues. Again, this is usually a factor of the amenities they have.
Where Do I Find How Much HOA Dues are for a House I’m Interested In?
Our Austin home search tool will list what HOA dues are for each house. When you are on the listing for the house you’re interested in, scroll down past the home’s pictures and description until you see the headline “Financial”. Right under the title you’ll see “Association Fee”, which should be at the top of the category. That will tell you how much the HOA dues are. The frequency of payment will be listed under “Association Fee Frequency” and will tell you how often you have to pay the dues listed under “Association Fee.”
If you don’t see “Association Fee” as one of the categories, the property is likely not in an HOA, or is located in a voluntary HOA.
Thinking About Buying a Home in Austin?
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