Beachwalk CDD and HOA Fees
June 2, 2018 | Katy and Matt Yanossy
There has been quite a buzz around the new Beachwalk subdivision in St. Johns County. This post will give a general idea of what residents can expect to pay for Beachwalk CDD and HOA fees. While it varies greatly depending on which neighborhood and lot within Beachwalk, we’ll do our best to give you a rough idea of what to expect. When it comes to specific homes and lots, we can provide you with exact numbers.
What is a CDD Fee?
In order to get home prices down to decent levels but still provide awesome amenities, many of our neighborhoods in northeast Florida require a yearly CDD fee. The CDD bonds typically last for 30 years, after which they are considered paid off. In essence, it’s like paying off the price for the amenity center like the clubhouse, pools, parks and more. The developers, rather than fronting the cost of all of the amenities, borrow this money in the form of a CDD bond that the residents then pay off. If the developers covered the cost up front, they would need the lots to sell for much higher prices to turn a profit.
CDD fees are treated much like property taxes. In fact, if you pull up a property tax bill in this area you will see the CDD fees listed on it. When you take out a mortgage on a home, the CDD fees will typically be included in your monthly payment.
While the CDD fee pays off things like the amenity center, the HOA fee is more for maintenance of existing amenities and infrastructure as well as future improvements.
What are Beachwalk’s CDD fees?
This will vary by neighborhood and lot. The Reef is a neighborhood in Beachwalk by Lennar Homes. Their CDD fees range around $3,200 to $3,500 per year. The HOA fees in this neighborhood are around $400 to $500 per quarter.
Vintage Estate Home’s neighborhood in Beachwalk has CDD fees seem to stay around $3,300. The HOA fees in this neighborhood are around $3,350 per year.
Lastly, Americrest Luxury Homes offers homesites on the lagoon. We will post information on their CDD fees when we are able to get the info.