Estimated Home Ownership Costs

Question 1

Equity Membership costs $_________, with an additional $________ non-refundable Capital contribution to Ocean Reef Club.

Answer 1

$250,000 ; $15,000

Question 2

Annual Dues at the club are $__________ plus taxes and a $________ annual Capital assessment.

Answer 2

$10,681 ; $3,245

Question 3

Equity membership is refundable at _____ of prevailing rate at time of re-issuance.

Answer 3

80%

Question 4

Taxes are paid to ________ County and are estimated to be _____ of market value per year.

Answer 4

Monroe County ; 1%

Question 5

Insurance varies with these 3 considerations:

Answer 5

Value, coverage, elevation

Question 6

Ocean Reef Club Community Association (ORCA) requires an annual fee ranging from $_____ to $______ depending on the category of home or dock, which covers _________, __________, __________________, and common areas within the gates.

Answer 6

$5,098 - $9,239 ; security, fire department, road maintenance

Question 7

Lawn Maintenance - a typical home will run approximately $_____ per month with ______ service. Price is determined by __________.

Answer 7

$300 ; bi-weekly ; lot size

Question 8

Pool Maintenance - approximately $_____ per month with _______ service. Price is determined by _______________.

Answer 8

$150 ; weekly ; pool size

Question 9

Utilities - Water/Sewer - a typical home will average $_____ per month, excluding ____________________.

Answer 9

$150 ; lawn irrigation

Question 10

North Key Largo Utility Company (annual sewer) is roughly $_____.

Answer 10

$850

Question 11

Cable TV is approximately $____ plus tax monthly for _____________ and _____________ which is billed ___________ through _________. Additional premium channels billed directly by _________________________.

Answer 11

$35 ; basic internet ; cable ; annually ; ORCA ; cable service provider

Question 11

Electricity and __________ are charged _________________________.

Answer 11

Telephone ; according to use