Are you comparing Cherry Creek condos and wondering why HOA dues vary so much from one building to the next? You are not alone. In a neighborhood known for luxury amenities and lock‑and‑leave living, HOA fees can be a big part of your monthly cost. This guide breaks down what those dues usually cover, what they do not, why some buildings charge more, and how fees affect resale and financing. Let’s dive in.
Cherry Creek HOA fees at a glance
Cherry Creek mixes boutique townhomes, mid‑rise buildings, and full‑service towers. That variety means HOA fees differ widely by building type, age, and amenities. Denver winters also add costs for snow removal, heated garages, and building envelope care.
Colorado’s Common Interest Ownership Act (CCIOA) sets disclosure standards for associations. You can expect standardized resale documents that outline dues, budgets, rules, and any planned special assessments or litigation.
What your fees usually cover
Routine operations
Most associations include the basics needed to run and maintain the property. Common line items include:
- Exterior maintenance and repairs for the building shell, roof, and common elements.
- Common area utilities like lighting, elevator power, pool or spa operation, and garage ventilation.
- Landscaping and snow removal for sidewalks, drives, and shared spaces.
- Trash and recycling for multi‑unit properties.
- Building staffing and services such as on‑site management, concierge, porters, and janitorial for lobbies and hallways.
- Management, legal, and accounting fees.
- Service contracts for elevators, fire/life safety systems, pest control, and common‑area HVAC.
Reserve funding
Healthy associations budget for long‑term repairs and replacements. You will often see:
- Reserve contributions for big‑ticket items like roofs, elevators, exterior painting, mechanicals, and parking garage repairs.
- Reserve studies that guide how much to save and when. Ask for the most recent study and funding plan.
Amenities and staffing
If your building has amenities, operation and upkeep are usually included in dues:
- Pools, fitness centers, clubrooms, guest suites, and storage rooms typically require cleaning, utilities, and equipment maintenance.
- Security and parking systems, and in some towers, security staff or concierge, are common cost drivers.
Insurance basics
Associations carry a master insurance policy for common elements and the building structure. The exact scope varies by governing documents. You will usually carry an HO‑6 policy for interior finishes, personal property, liability, and optional loss assessment coverage in case the association passes through a deductible or special assessment related to an insured event.
What is not included
Utilities and services
- Unit utilities are often separately metered for electricity and gas and paid by you. Some older buildings may be master‑metered for gas or water, which can be included in dues.
- Cable and internet may be part of a bulk contract in some buildings, but many owners choose individual plans.
Parking and storage
- Assigned parking or storage lockers can be included or billed separately. Always confirm schedule, location, and any monthly fees.
Interior repairs and finishes
- In‑unit maintenance and upgrades are your responsibility. Your HO‑6 can help cover many interior issues, subject to policy terms.
Property taxes
- Unit property taxes are paid by you. The association pays taxes only on certain common elements if applicable.
Why some buildings cost more
Several variables push dues higher or lower in Cherry Creek:
- Amenities and services. Pools, fitness centers, clubrooms, and concierge staff raise operating budgets.
- On‑site staffing. Salaries and benefits for management and security add recurring costs.
- Building age and systems. Older buildings and complex systems, like elevators and underground garages, require more maintenance and reserve funding.
- Association size. Fewer units mean fixed costs are spread across fewer owners.
- Utility structure. Master‑metered water or heating increases dues.
- Reserve policy. Fully funded reserves can mean higher dues today and fewer special assessments later.
- Garage maintenance. Urban garages are costly to maintain and waterproof, especially after snowy winters.
Typical ranges by building type
These are approximate ranges to help you compare buildings in Cherry Creek:
- Boutique townhomes or small HOAs: about $200 to $600 per month.
- Mid‑rise buildings with limited amenities: about $350 to $800 per month.
- Luxury high‑rise towers with full amenities: about $700 to $1,500+ per month.
Individual buildings can fall outside these ranges. Always verify the current budget, dues schedule, and reserve study.
How fees affect resale and loans
Resale value and buyer pool
- Higher dues increase monthly costs and can narrow the buyer pool.
- Well‑funded, well‑run buildings with desirable amenities can command higher sale prices because buyers pay for predictability and convenience.
- Underfunded reserves or frequent special assessments can reduce perceived value.
Mortgage and approvals
- Lenders review project financial health, reserve funding, special assessment history, and association delinquency rates.
- High delinquency or pending litigation can limit financing options and eligibility for some loan programs.
- Underwriters include HOA dues in DTI, so very high dues can affect loan qualification.
Special assessments and red flags
- Special assessments can be sizable and impact resale if announced near listing time.
- Watch for recent large increases, high delinquencies (often above 5 to 10 percent), pending litigation, and major projects like roof, façade, or garage overhauls.
- Check the master policy deductible and whether owners can be assessed part of a large deductible after a claim.
Your Cherry Creek due diligence checklist
Request these items during your inspection period:
- Current year HOA budget and the most recent financial statements.
- The reserve study and reserve funding policy.
- Meeting minutes for the last 6 to 12 months, ideally 12 to 24.
- The resale certificate or association disclosure package.
- A list of recent and planned special assessments with reasons and timelines.
- Parking and storage details, including fees and ownership or assignment terms.
- Insurance certificate and master policy summary, including deductible amounts.
- Management contract and contact information.
- Current CC&Rs and rules (including rental and pet policies).
- Delinquency report showing the percentage of owners behind on dues.
- Documentation on planned capital projects or known building issues.
Good questions to ask management or the board:
- When was the last reserve study, and when is the next one?
- Have dues increased recently? Why, and what is expected next year?
- What capital projects are planned in the next 1 to 5 years?
- How are utilities billed for units and common areas?
- Are there rental caps or investor restrictions that affect demand?
Common pitfalls and tips
- Do not assume master insurance covers your interiors. Confirm scope and carry an HO‑6 policy with loss assessment coverage.
- Small associations may have higher per‑unit costs and lean reserves. Verify funding levels closely.
- Underground garages are common in Cherry Creek and can be expensive to repair. Ask about past or upcoming work and waterproofing.
- Winter costs for snow removal and heating can move the budget. Review seasonal variances in financials.
- Bulk cable or internet deals can change when contracts expire. Confirm terms and timing.
- Read meeting minutes to understand how your board approaches maintenance, reserves, and rule enforcement.
Bottom line
The right Cherry Creek condo for you is the one where the lifestyle, amenities, and financials align with your goals. Strong amenities and professional management can be worth higher dues if reserves are healthy and big projects are planned well. Do your homework on budgets, reserves, insurance, and upcoming work so your monthly cost matches the value you receive.
If you want a building‑level read on specific Cherry Creek addresses and how their HOA stacks up, reach out to Mark Callaghan for a data‑driven, client‑first consultation.
FAQs
What do Cherry Creek condo HOA fees typically include?
- Most cover exterior maintenance, common area utilities, landscaping and snow removal, trash, management, service contracts, and master insurance for common elements.
How much are HOA dues in Cherry Creek by building type?
- Boutique townhomes often run about $200 to $600, mid‑rises about $350 to $800, and luxury towers about $700 to $1,500 or more, depending on amenities and reserves.
Do HOA fees usually cover unit utilities in Denver condos?
- Often no. Many units are separately metered for electricity and gas. Some older buildings may include water or heating through master‑metering.
How do HOA dues affect mortgage approval for condos?
- Lenders count dues in your debt‑to‑income and review project health, reserves, delinquencies, and litigation, which can impact financing options.
What documents should I review before buying a Cherry Creek condo?
- Ask for the resale certificate, current budget and financials, reserve study, meeting minutes, insurance summary, rules and CC&Rs, parking and storage details, and any assessment history.
