We just got a notice in the mail that our HOA fee is going up 10%. Now I know why these things happen, but i'm a little upset at the percentage of increase and that it is going entirely towards RESERVES when we were paying $45.49 a month (15% of our dues) into the reserve already.
Now it will be $75.48 a month, or 23% of our monthly dues going entirely towards reserves.
For our area, this is insane. We don't have a community pool, gym, or other higher cost amenities AND we don't have any outstanding debts or loans that run longer than 1 year.
The surrounding communities all have carports, pools, gyms etc and assessments in the $330-$350 price range... Heck, one even throws in cable for the entire complex...
Makes me glad were leaving in 5 year.