Breaking Down the Expenses of Owning a Home on Ono Island

Imagine waking up to the serene sounds of the Gulf Coast, with the sun glistening off the waters surrounding Ono Island in Orange Beach, Alabama. Owning a home in this exclusive enclave is a dream for many, but it comes with a range of expenses that must be carefully considered. From city utilities to HOA fees, every aspect of homeownership on Ono Island has its own financial implications. In this article, we will break down the expenses associated with owning a home on this picturesque island, providing you with a comprehensive understanding of what to expect. Let's delve into the costs of city utilities, HOA fees, amenities and services, as well as capital assessments and transfer fees, so you can make informed financial decisions when it comes to owning a piece of paradise on Ono Island.

City Utilities

One of the key expenses to consider when owning a home on Ono Island is the cost of city utilities. This includes water, sewage, electricity, and garbage disposal. These essential services ensure that your home is comfortable and functional year-round. Moving on to another significant aspect of homeownership on Ono Island, let's explore the financial implications of HOA fees.

HOA Fees

Another financial consideration for homeowners on Ono Island is the payment of Homeowners Association (HOA) fees. These fees are typically charged on a monthly or yearly basis and cover the costs of maintaining the common areas and amenities within the community. This can include upkeep of landscaping, security services, and community events. Understanding the amount and frequency of HOA fees is essential for budgeting and planning your overall homeownership expenses. POA $1700/year, Fire Authority $919/year

Amenities and Services on Ono Island enhance the overall living experience for residents.

Amenities and Services on Ono Island enhance the overall living experience for residents. These offerings may include access to the community pool, tennis courts, and fitness center. It's important to factor in these amenities and services when considering the total cost of owning a home on Ono Island. Understanding the full scope of what is included can help you make an informed decision about whether the benefits align with your lifestyle and budget.

Capital Assessment and Transfer Fee

Moving forward, it's also crucial to take into account the Capital Assessment and Transfer Fee associated with purchasing a property on the island. These fees are typically used for ongoing maintenance and improvements to the community as a whole. The Capital Assessment fee and $8,000 Transfer Fee are payments made by the buyer to contribute to the reserve fund for future projects and expenses, such as road repairs, landscaping upgrades, or community facility renovations. Understanding and budgeting for these fees can prevent any unexpected financial burdens down the road. By factoring in the Capital Assessment and Transfer Fee, you can make a more informed decision about the true cost of owning a home on Ono Island, ensuring that you are prepared for all aspects of homeownership in this unique and desirable community.

Understanding the true cost of owning a home on Ono Island is crucial for making informed financial decisions. From city utilities to HOA fees and everything in between, it's essential to be prepared for the financial responsibilities that come with homeownership in this beautiful area. Remember to thoroughly assess all expenses and plan accordingly to ensure a smooth and stress-free experience. As you navigate the world of homeownership on Ono Island, keep in mind that knowledge is power when it comes to managing your finances effectively. Prepare, plan, and prosper in your new island oasis.

Ono Island Admission Fee

Ono Island Home Expenses

Example of another Ono Island. Waterfront

Pool Added in 2020

4 Bedroom - 4 Bathroom - 1 Half Bathroom

3,130 Sq Ft Living Area - 4,606 Sq Ft Under Roof

Lot Size 92.72 X 290

82' Feet of Waterfront

Seawall / Custom Inlet

Boat House With 2 Lifts 10,000lbs

Two Carports

Anderson Impact Windows and Doors

ono

You may want to purchase a survey and elevation certificate for the property.

Insurance is another consideration. If the property is located in a flood plain, you may need flood insurance.

Ono Island Homes & Land for Sale – Luxury Waterfront Real Estate in Orange Beach Alabama

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$5,500,000

3983 Oleander Court, Orange Beach

5 Beds 5 Baths 3,972 SqFt Residential MLS® # 385551

Brett R/E Robinson Dev OB Main: 251-981-6180

$5,300,000

31292 River Road, Orange Beach

6 Beds 7 Baths 4,718 SqFt Residential MLS® # 360051

Signature Properties

$4,500,000

↓ $300,000

30510 River Road, Orange Beach

4 Beds 5 Baths 6,000 SqFt Residential MLS® # 367056

C Properties Sales & Managemen PHONE: 251-979-6011

$4,200,000

↓ $600,000

33202 River Road, Orange Beach

4 Beds 5 Baths 4,943 SqFt Residential MLS® # 351716

RE/MAX Paradise

$3,900,000

29879 St John Drive, Orange Beach

5 Beds 6 Baths 6,709 SqFt Residential MLS® # 377376

Bellator RE LLC Orange Beach PHONE: 251-979-6600

$2,990,000

↑ $90,000

29765 St John Drive, Orange Beach

6 Beds 6 Baths 7,078 SqFt Residential MLS® # 384580

Bellator RE LLC Orange Beach PHONE: 251-979-6600

$2,937,000

30475 Harbour Drive Unit Oh-03, Orange Beach

4 Beds 5 Baths 3,225 SqFt Residential MLS® # 384885

Liveoak Realty, LLC

$2,825,000

↓ $70,000

32220 River Road, Orange Beach

4 Beds 3 Baths 3,900 SqFt Residential MLS® # 381305

RE/MAX Paradise

$2,800,000

28452 Ono Boulevard, Orange Beach

5 Beds 5 Baths 6,100 SqFt Residential MLS® # 381213

RE/MAX of Orange Beach PHONE: 251-424-4123

$2,520,000

↓ $75,000

31729 River Road, Orange Beach

5 Beds 5 Baths 3,632 SqFt Residential MLS® # 376932

RE/MAX of Orange Beach PHONE: 251-786-4915

$2,400,000

28932 Ono Boulevard, Orange Beach

0 Beds 0 Baths 0 SqFt Land MLS® # 379580