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Updated over 18 years ago,
Association fees?
I'm 18 and I want to buy my first parcel of land, it's in this area of Minnesota and you have to pay a yearly association fee of $100 per lot you own.
There are two main lots I am trying to decide between:
- One is $7,400 and is .85 of an acre and is heavily wooded.
- The other is $14,500 and is 1.67 of an acre, heavily wooded with 3 junky buildings on it.
I'm either going to buy one or the other (or at least I feel pretty compelled to.) I think I might go for the cheaper one because of the lower price and it's also more accessible than the first one.
Anyway, what I want to know is.. is a $100/year association fee going to hurt me? Should I buy the property? If I buy the land now I probably won't actually live on it for another 2 or 3 years (maybe camp there next summer for a few days for fun.)