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, homebuyers that are looking at new construction some ask me about CDD Fees. This is especially the case when we head down to North St. Johns County and consider, Durbin Crossing, Aberdeen, or Julington Creek. It's 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 for it!
“CDD” stands for Community Development District. Every single piece of property in a particular community will have a fee attached that lasts the life of the bond.
When the developer finds a piece of land that he wants to build on and turn 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 putting in the groundwork for wiring, the builder might finance the infrastructure by selling bonds to investors for financing to complete this portion of the project. That is why you'll receive a monthly payment (fee) for each parcel. So when purchasing a home in a 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
$100,000 - $200,000
$200,000 - $300,000
$300,000 - $400,000
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$700,000 - $800,000
$800,000 - $900,000
$900,000 - $1,000,000
Residential in 32259
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Listing information last updated on June 19th, 2019 at 4:53am EDT.