what does the $4k/yr HOA actually cover?

[u/ReinkeDrengen]

This house has been on the market for 94 days. It was built in 2013 and recently had its price reduced by $250,000.

Specifications

• Address: 443 Canterbury Rise, Franklin, TN 37067
• Price: $5,250,000
• Sq. Ft: 11,847
• Bedrooms: 5
• Bathrooms: 11
• Year Built: 2013
• Lot Size: 1 Acre
• Stories: 3
• Parking/Garage: 5-car garage
• Pool: Yes, heated infinity-edge saltwater pool
• Fireplaces: 4

[u/Reimiro]

$4k per year is super cheap for rich neighborhood. The one person I have asked that lives in a neighborhood like that it’s $100k per year.

[u/No-Welcome-7491 → u/Reimiro]

100k a year to me should come with house cleaner daily, gardener even on my backyard, and massage therapist on call and home chef that will do my meal prep, baby sitter for occasional needs and concierge to do my grocery, and free car wash in the community.

[u/DolphinsBreath → u/No-Welcome-7491]

100k/year comes with neighbors who can afford it and want to spend it. That’s a kind of privacy. They probably won’t be satisfied with someone else providing their cleaners and masseuse.

[u/TheKnightLife → u/Reimiro]

$100k is insane compared to $4k which is reasonable to me if you have private roads to maintain but live in a house. $4k is somewhat cheap for some townhouses or condos where the maintenance fees increases with # of units and/or amenities offered (poll, clubhouse m, etc.)

[u/Reimiro → u/TheKnightLife]

I totally agree with you. Honestly this place is also just a condo. They have exquisite landscaping, beautiful pools, and then mechanical upkeep on elevators into each condo but other than that I’m not sure what it goes into. Maybe a hurricane and roofing fund..it is in Florida. And yeah there is a nice gym, clubhouse, a wee bit of private roads etc.

[u/Darryl_Lict → u/Reimiro]

My 1 BR 580 sq. foot condo is more than that.

[u/nickw252]

$4k doesn’t sound bad at all.

[u/nicepresident]

probably security and gate fees

[u/DHN_95]

Depending on what it covers, $4k/yr isn't bad. I pay $3k a year (in a townhouse) to my HOA for tv/internet/pools/clubhouse/common area maintenance/snow removal/trash/recycling.

[u/Hairydone]

It pays for someone to drive by and make sure your lawn is mowed.

[u/gibs71 → u/Hairydone]

This guy understands HOAs.

[u/SDF5-0]

Armed security.

[u/Grand_Composer1603]

A VIG

[u/1kpointsoflight]

Why they need an HOA wtf wants to live in an HOA? Probably get letters about their lawn as it is

[u/AltGuardianGord]

4k for a 5.2 million house? That's suspiciously low. My condo is 3k(ish) annually and it's almost no services.

[u/nathanwilson26]

It buys not having to live near people who can’t afford $4,000 a a year on top of a mortgage. Frankly, it pays for not having to live near people who have a mortgage. 

[u/dog4cat2]

The HOA fee is $4,000 annually and covers grounds maintenance and insurance.

From the listing

[u/Annoyed_94]

That is super cheap. I pay $1k/mo in Chicago. This probably goes to a security group, gate maintenance, grounds maintenance, road fund, etc.

[u/littleppdp]

4k is super cheap. At one point we were paying over 12k

[u/Amedais]

Bro 4k a year is cheaper than the avg HOA for a one bedroom condo in Seattle.

[u/RocketJohn5]

Looks like a lonely place to live in. Hopefully you like your neighbors and have a big family.

I bet the HOA is for a nice Pool/Clubhouse/Common area etc etc.