What is a CDD Fee?
Should I be scared of them?
The short answer is "no" but you should certainly know about them when deciding where to buy. Very often homebuyer's that are looking at new construction, at some point, ask me about CDD Fees, if we havn't already touched on the topic. This is especially the case when we head down to North St. Johns County and consider, Durbin Crossing, Aberdeen, or Julington Creek. Its important to note that there are positives and negatives to CDD Fees. Some positives are that, typically, you are moving into a community with great amenities and usually in a highly desirable area. A negative might be that you are having to pay fo it :).
“CDD” stands for community development district. Every single piece of property in a particular community will have its fee attached that lasts the life of the bond.
Basically when the developer finds a piece of land that he wants to build into a neighborhood or community of single family homes, instead of spending millions of dollars putting in the sewer system, hooking up to city water, and puitting in the groundwork for wiring… they might finance the infrastructure by selling bonds to investorsuse that financing to complete this portion of the project. And that is why you'll receive a monthly payment (fee) for the owner of each parcel. So when purchasing a home in that community, you are taking over the bond payments from when the community started. For more information on Florida CDD Bonds click here.
If you have any questions about CDD fees call us: (904) 469-7653 or email us at email@example.com
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Residential in 32259
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Listing information last updated on January 18th, 2018 at 2:38am EST.