Like other master planned communities, RiverTown also charges residents HOA (Homeowners Association) and CDD (Community Development District) fees to offer modern amenities to residents. If you are looking at Lakes RiverTown homes for sale, you should be aware that HOA and CDD fees are different. According to recent listings in Lakes, the HOA fee was about $53 per year.
RiverTown’s CDD program includes Lakes, and the CDD fee is generally the more expensive one because it covers costs for community operations, infrastructure, and public amenities. This fee varies depending on the home type, lot size, and location. Typically, for a home in Lakes at RiverTown, CDD fees are around $3,700 to $3,940 annually.
Thus, before making a purchase decision, you should concentrate not only on the rather minor HOA fee but also include the CDD fees to be paid every year. Before making an offer, you should carefully analyze the current taxes, the CDD assessment, and sellers’ disclosures to know the true cost of owning a single-family home in Lakes.