Harbour Vista Land Lease

Posted by Sam Smith on Monday, May 2nd, 2016 at 3:59pm.

The Harbour Vista community in Huntington Beach has been offering some of the lowest priced condos for sale in the past years.  One bedroom condos are now selling in the $190,000 range and two bedroom units start at $289,000. Sometimes when things are too good to be true there always seems to be a catch.  One of the important things to understand when buying in this community is that the homes are located on leased land.  There is also a homeowners association dues that are paid on a monthly basis and average around $421.00 a month.  What you get for the monthly due is a large community pool area, spa and outdoor barbecue area.

The land lease is a little tricky to understand.  There is a website for the Harbor Vista News that gives a breakdown of how all of this works.  It basically states that the lease will expire on 08-31-2016 and then the owner has the option to renew for an additional 15 years if given written notice 6 months prior to the lease expiration date.  Monthly lease dues typically average $220.00 a month.  Since the lease expiration comes in a relatively short time getting a loan in this community can be a little difficult.  Some lenders are doing a 15 to 20 year loan while other agents prefer cash offers.  It's crucial to understand that even though you can buy a condo for under $200,000 you will have a monthly combined homeowners association and lease land fee the equals $641.00 a month.  This is a big number for a lot of people who can afford a $200,000 home.

To learn more about this community please feel free to contact us at 949-482-1313.  We will do our best to answer any questions regarding the Harbour Vista neighborhood.

Harbour Vista Condos For Sale | Huntington Beach Real Estate

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Huntington Beach 4791 Lago Drive 305

Top level with cathedral ceiling in living room and bedroom with bamboo floors. Plenty of kitchen cabinets, pantry, broom closet and with separate laundry room that has washer/dryer hookups for gas dryer. Gas fireplace in living room. Nice size balcony that faces north, Central heat off central boiler system recently replaced. Heat, water and hot water paid by the HOA. Open floor plan gives the open feel. . Access to large balcony from living room and bedroom. Gated community with elevator. C...$229,000

1 Beds
1 Baths
843 SqFt
252 Days On Market

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