Lately I have had several buyers new to buying in Lake Geneva and Geneva National comment on association dues. Monthly association dues vary from community to community but if you are looking for amenities the dues can be 350-650/month. This seems to ‘rock some worlds’ but in reality many folks are paying more than that for their parking space! You need to remember this is a second HOME and it needs to be cared for even though you are not physically part of the process. At Geneva National there are many separate and distinct associations under the management umbrella of Geneva National. Dues vary amongst each association due to the age of construction and materials along with decks, patios, landscaping and screened in porches. And yes, in some cases an older smaller condo will have the same dues as a larger condo based on new construction materials, number of units and design.
Let’s break down the dues with a monthly association fee of 400.00. This piece is divided into two – money for your condo neighborhood and money for the overall association. Everyone pays to maintain 32 miles of roadway; grass, trimming, snow plowing, sand etc. Everyone pays for security, water and sewer, professional management, the pool(s), insurance, legal fees and such. That amount is about 229./month. The remainder goes to your neighborhood and in this case that would amount to $171.00. That amount is suppose to cover grass cutting, snow removal, bug spraying, replacement reserve for the exterior, repairs and then painting. Right now I want you to think what you pay every week to get your lawn mowed. 50$? Right there you are at 200 a month and you haven’t touched anything else. How about plowing in the winter? Over 2 inches on the ground starts the plowing and last year I can name the weeks where that was 4 times in one week – at 40$ a plow? Adds up fast.
This large community of close to 1100 homes/condos spread amongst 3 gorgeous golf courses over 1800 acres is well managed with over 96% paying there dues on a timely basis. That says a lot. Next time you question association dues please mentally tabulate your water and sewer bills, your grass cutting costs, snow plowing, insurance, landscaping and yearly exterior home maintenance on your full time residence. This is your second full time residence!
P.S. If you are looking for a complete list of inclusions let me know and I will be glad to email them to you. Thanks!
