Sunriver has 3 main categories of Home Ownership; single family, condo and shared. Sunriver itself is has a Homeowners association (HOA) and each owner pays the same fee regardless of the improvements on the property or condo. Although this fee has gone up a couple times over the last couple years it is just over $50.00.
If you have a single family residential property this is the only HOA fee you pay. Sunriver maintains the road, the snow removal on the road, police protection and fire protection. The SROA (Sunriver Owners Association) is the governing body for community planning, including approvals for landscaping to paint colors.
Owning a Home in Sunriver in most cases also gives you the opportunity to use your Home for several types of investments. Some Home owners use their Sunriver Home as a second Home, others use it as a vacation rental and there are a few that are actually company retreats. Recently a few clients have pulled their money from different retirement accounts and purchased properties so these are now consider the retirement account, and you get to use the property while you purchase it, with the funds you would put into a retirement. I am not an accountant and am not completely clear of how you qualify for these types of investment if this intrigues you please contact your tax professionals.
Single family Homes do require that the Home owner perform their own exterior maintenance and abide by the rules and regulations of Sunriver.
There are several condominium complexes in Sunriver; they range from the lower price to over $650,000. Each condominium pays the same SROA fee that a single family Home pays – plus that of the condominium. Most condominiums have a quarterly fees and occasional special assessments. A lot of buyers find condominium living for a second Home to be very appealing as most of the condominiums have no exterior maintenance for a Home owner to maintain. The condo association is often times responsible for exterior maintenance right down to the snow removal to your doorstep.
Shared units come in many shapes and sizes. There are 2 condo type projects in Sunriver that only have shared Ownership. Most of these are based on 20% shares with a rotating schedule this is generally 12 weeks per year broken up into 3 weeks per quarter.
There are several Homes in Sunriver have been purchased with this same concept or after one party has purchased the original owner has broke the Ownership up as shared Ownership. Stay tuned for more information on Sunriver Home Ownership and the choices available.