Congratulations, now you will be able to enjoy the boat for a longer season.

Congrats on the new place! I've stayed there and it's very nice with a great location. If it eases your mind a little, I stayed there this year shootout week and the place wasn't busy at all with tons of parking. The pool has an amazing view of the channel with a "bench seat" at the end of the deep end.

Last weekend the board decided that the roof needs replacing and the quarterly HOA fees for 2024 went from $900 to $2900 lol

I was nice and pitched in $3k of that $8k increase
I`d be pretty livid if I had already closed .

That is crazy!!! Should not be nearly that much $$. Does the complex not have any cash reserves?? We have significant cash reserves for stuff just like this. Our complex did roofs on 2 buildings and it came out of our reserves.
What do mean by 2k of the 8k?? You will start getting the $2900 quarterly dues bill after you close...........or is the seller prepaying 6k of them??
I would want to see the complexes financials and board minutes for the last 3 years.

Here is copy of of mine. You notice, we pay quite a bit into reserves to avoid that type of thing. The 418 is sq ft
https://cimg0.ibsrv.net/gimg/www.off...25cdb63971.png

When did dues go up at HB? I'm pretty sure I was paying $450ish a quarter when I sold my condo a couple years ago.

I've seen way worse special assessments and the such at the lake over the years. Amazed at how poorly some associations are run and can't cover normal maintenance out of existing reserves. Wait until you need stuff done with the docks like new cables. :eek: :poopoo:

That`s exactly what I thought!!! , why don`t they charge every owner a little more a month and put that in a piggy bank for things like this but apperantly that would make too much sense .
I have all the financials and there is no "piggy bank" the cost of repairs is $152k.
The cost for every owner in 2024 is $8k, they`ll take a lump sum, or monthly payments. They offered to pay 50/50 .I offered to pay $3k of the $8k.They accepted . I propabably could have gotten them to pay for the whole thing but they came down on price quite a bit so...
2025 goes back to $900/quarter.

When I had my condos on KY Lake, the board was required to keep 10% of the yearly budget in a separate account. This was required for any lender to write a mortgage for a condo. I assumed this would be standard operating procedure. The way we did the assessments was everyone paid 13 monthly assessments a year and the extra one went into the rainy day fund.

13 payments a year once would get them to 10%. They did it every year? That must have been a very large fund after many years?

Gone up about a $100/quarter since you left. Mainly because Mikat wasn't doing anything and some much needed stuff was overdue.
My slip is a good chunk of that and then increased dock reserves by a bunch.