The Daybreak Community Enhancement Fee
What Fee Do I Pay to Daybreak HOA when I sell my House?
I’ve lived in Daybreak Utah for over 8 years now and I often hear very different answers regarding the HOA community enhancement fee that is paid by the seller at closing when moving from a house in Daybreak. Let’s run through the information and make sure everyone is aware of what that fee really is and where the funds go to.
Daybreak Monthly HOA Fees
Each resident in Daybreak has a monthly HOA fee for the Daybreak Master Association. For most single family detached homes this fee is $121 per month and is billed quarterly by the HOA (Homes in phase 1 of Founders Park have a lower fee since internet is not included). This fee covers Century Link Internet, Gym Membership, Pools, Parks, Lake Watercraft Rental, HOA Management, and Community Space Maintenance. Personally, I feel for the services available in the Daybreak community this is a great value. When I am helping people move to the area they are almost always very impressed with the fee and what is included.
It is important to note that some units in Daybreak belong to more than one HOA. The sub associations have their own fees and services covered in those fees. Some properties even belong to three sub associations. Some examples include Condos, Townhomes, and Lake Village Homes. These HOA fees can vary and change frequently so I will not post those rates here. If you would like to confirm a sub association HOA fee contact the Daybreak HOA here.
What is the Daybreak Community Enhancement Fee?
When a owner sells their home in Daybreak, the HOA collects a community enhancement fee of “One half of One percent” of the gross sales price of the home. This can be expressed as .5% or .005 of a gross sales price. People get very confused when you start talking about half a percentage point. Decimals and percentages take us back to our school math days and honestly it can seem a little tricky. Here is a breakdown with actual numbers:
Gross Home Sales Price: $300,000
This fee is used by the HOA for all the fun events Daybreak hosts. Some of these include Summer Concert Series, Movie Nights, Daddy Daughter Dances, Leprechaun Hat Hunt, Easter Egg Hunt, Cruise Night Halloween Decoration Contests, etc. These are activities that could not be funded on the monthly HOA fees so the community enhancement fee covers those costs.
If I’m Moving to a New House in Daybreak Do I Avoid This Fee?
This is a question I get very frequently because it is very common in Daybreak for someone to sell their current home and buy a new home in Daybreak. People love this area and sometimes life circumstances require a larger or smaller house but they want to stay in the same area. Unfortunately, the fee still has to be paid each time a unit sells. At the time of selling a home, it can seem like a large price to pay, but I look back at all the fun activates I have attended and I feel it is well worth it. Also, the activities that are paid by the community enhancement fee likely have a strong impact on the demand for buyers to look at homes in Daybreak so the value of my home could be higher as a result of these programs.
I hope this explanation will help provide clarity to this fee. You can access the governing documents here. If you have further explanation, the HOA is readily available as am I. Look forward to seeing you all around the communities and at the wonderful events!
Blog Archive2017-12-11 16:03:49
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The Daybreak Community Enhancement Fee
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