Southwest Florida cities face steep HOA fees, study finds

CAPE CORAL, Fla. (WINK)—A new study ranks Florida HOAs as some of the highest in the country, with several Southwest Florida cities making the list.

According to Realtor.com, some of the people who pay the most HOA fees live in Cape Coral. The study examined more than 300 of the largest communities in the country for HOAs.

When you're looking to buy your home, what's most important to you? Realtors like Karen Borelli ask these important questions. She said the market has improved for sellers compared to a few months ago.

"Our number of sales are up slightly," Borelli said.

However, it's not all good news for buyers. If you're going to live in an HOA, expect some high fees in the Sunshine State.

According to the Realtor.com study, 20% of a mortgage payment in Naples is for HOA fees. In Cape Coral, it's a little more than 19%.

"It's probably around over $1,000 a month," Borelli said.

That's the highest HOA Borelli has seen a homeowner pay in Southwest Florida.

"A lot of people buck up and pay it, especially in these golf communities, when they could golf every day, the fees don't really impact their decision making on purchasing," Borelli said.

Borelli explained why fees in Southwest Florida are some of the highest in the state.

"Everything that this area has gone through with the hurricanes, you know, maintenance, the new requirements by the state of Florida for milestone inspections," Borelli said.

At the end of the day, avoiding the HOA fees comes down to what you want to sacrifice when you're searching for a home.