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.

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

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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$1,425,000

29558 St John Drive, Orange Beach

3 Beds 3 Baths 2,808 SqFt Residential MLS® # 378153

Crye Leike Gulf Coast Real Est Main: 251-405-2608

$1,299,000

↓ $100,000

River Road, Orange Beach

0 Beds 0 Baths 0 SqFt Land MLS® # 342415

Signature Properties

$1,250,000

32580 Sandpiper Drive, Orange Beach

4 Beds 3 Baths 2,400 SqFt Residential MLS® # 384422

RE/MAX Paradise

$1,200,000

31840 Shoalwater Drive, Orange Beach

3 Beds 4 Baths 2,501 SqFt Residential MLS® # 382054

RE/MAX of Orange Beach PHONE: 251-533-6677

$1,175,000

30951 Osprey Court, Orange Beach

3 Beds 3 Baths 2,833 SqFt Residential MLS® # 384371

Signature Properties

$1,149,000

3977 Hatteras Cove, Orange Beach

4 Beds 3 Baths 2,271 SqFt Residential MLS® # 381969

RE/MAX of Orange Beach PHONE: 251-979-9198

$1,099,000

30532 Ono North Loop West, Orange Beach

5 Beds 4 Baths 2,680 SqFt Residential MLS® # 384149

Bellator RE LLC Orange Beach PHONE: 970-389-2905

$989,000

30351 River Road, Orange Beach

3 Beds 3 Baths 2,740 SqFt Residential MLS® # 379878

Ono Island Luxury Realty LLC

$935,000

33129 River Road, Orange Beach

3 Beds 3 Baths 2,401 SqFt Residential MLS® # 383923

Roberts Brothers Inc. Gulf Coa CELL: 256-899-7769

$899,000

↓ $51,000

31545 River Road, Orange Beach

3 Beds 4 Baths 3,165 SqFt Residential MLS® # 371067

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

$879,900

31261 Oak Drive, Orange Beach

4 Beds 3 Baths 2,550 SqFt Residential MLS® # 385771

Realty Pro Group LLC

New

$869,900

30610 Ono North Loop, Orange Beach

4 Beds 4 Baths 2,251 SqFt Residential MLS® # 386598

RE/MAX Paradise

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