FAQ (Frequently Asked Questions) - Sales

Investing in a condo at the Summit is an important decision. We've provided answers to many of the questions you may have to help you decide if it makes sense for you..

  • What are the dues for Common Expenses?

    All condo owners are also part owners of the Summit Condo Owners Association, which oversees the care of all common elements and concerns at The Summit. Many of the expenses that you would normally have to pay for by yourself with a house such as Insurance, Lawn Care, Cable TV, etc... are pooled together and purchased at bulk rates by the COA. The COA divides these costs up among the owners based on square footage of the units owned and bill quarterly. Current COA dues are:

    1BR $435/qtr
    2BR $465/qtr
    2BR+ $495/qtr

  • What exactly does the COA pay for?

    Insurance on the buildings as required by law
    Exterior Pest control
    Landscaping contract
    Gate Repair and Maintenance
    Weekly grounds cleanup
    Common area/breezeway repairs
    Dumpster Service
    Bulk Cable for all units
    Pool maintenance
    Fire alarm system maintenance
    Power for parking lot lights
    Poolside Wi-Fi
    Water bill for sprinkler system
    Sprinkler system upkeep
    Common area furniture (pool chairs, etc...)
    Termite warranty bonding
    Postage and printing for meeting notices, other correspondence
    On-site management
    24hr fitness center equipment maintenance
    Accounting services

  • Do COA dues make condos more expensive to own than a house?

    Not necessarily. Condo Owners Association dues cover many of the costs you have to pay out of your own pocket when owning a traditional house. Also, since COAs buy services in bulk, they can often get needed services at a discounted rate.

    As an example, lets compare the cost of COA dues for a 2BR condo versus the costs of some the same services when owning a comparably priced house:

      Condo owners pay: House owners pay:
    HOA/COA Dues $155/mo $0*
    Property Insurance $0 (included in dues) $100/mo
    Garbage Service $0 (included in dues) $10/mo
    Lawns mowed $0 (included in dues) $20/mo**
    Cable TV $0 (included in dues) $35/mo
    TOTAL COST $155/mo $165/mo

    *Some subdivisions charge mandatory Homeowners Association dues of up to $50/mo. For this example though, we'll assume that the comparable house is in a subdivision that does not charge mandatory dues.
    **Based on total yearly cost of $480 ($40/mo for six summer months)

    Even when only looking at a few of the costs that COA dues cover, many people still pay less each month owning a condo than what they were paying out each month owning a house.

  • How much money do I have to put down?

    Depending on your situation, your initial investment could be as little as 3%. On a 1BR condo that would be $3447. From that point, you would just make your monthly loan payment.

  • How do I get in and out of the complex?

    Owners are issued gate remotes (similar to a garage door opener) to open the gated perimeter fencing. There is a also a key code punch box with a code that is rotated quarterly for your guests. Finally, there are punch-code sidewalk gates for entry if you decided to go for a stroll or walk the dog.

  • What if I want to purchase a Summit condo as an investment?

    Owning a condo at the Summit can be a profitable investment. The main difference when buying an investment condo is that you may need to use different financing programs which require a more standard intial investment. We have condos available for sale that are already leased for the year and income producing. In fact, you even have the option of letting the on-site management team manage your unit. For more information, please visit our investors page.

  • What insurance coverage will I need?

    You should always consult an insurance professional for advice in these matters. The master policy included in your Condo Onwers Association dues is designed to cover most of your risk. In addition, most owners purchase contents insurance to cover thier personal property and any improvements they have made to thier unit, and liability insurance.

  • What materials were used in the construction of the Summit?

    The Summit has wood and steel frame construction with a brick and vinyl siding exterior. This combination was chosen for its durability and low upkeep. The interior features crown molding, carpet and ceramic tile floors, and laminate countertops. The appliance package is sleek black from Kenmore, except for the Full Washer and Dryer combo, which is white.

  • What changes can I make to my unit?

    As owner of the unit, you can make any changes to the interior of the unit as you please. This includes changing interior paint colors, flooring, plumbing fixtures, appliances, and just about anything else. However, changes to some areas of your unit that are viewable from the exterior must be OK'd by the COA.