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What is an SSA or SAA? SSA stands for "Special Service Area", SAA stands for "Special Area Assessment".
What are Association Fees? Association Fees are a monthly charge paid to the board of directors or the association managing your neighborhood. If you are in a Single Family home - those costs usually pay for common area mainteance such as ponds, entry ways, etc. If you have a Pool or clubhouse - you fees will be a little higher to manage those amenities. If you live in a condo or townhouse - assocation fees will usually cover lawn care, snow removal and insurance of the exterior building.
SSA details- an SSA, or Special Service Area, is an area in which homeowners will pay a fee for new infrastructure costs incurred by a village when new commmunities are built, such as roads, sewers, streets, sidewalks, etc. SSA's are typically seen in new construction communities. When you purchase a new home - you will be paying your Principal, interest, taxes and insurance. In addition to those fees - if you live in an SSA community - you will have an additional payment due to the village or municipality in which you live.
SAA Details - an SAA, or Special Area Assessment, is a special cost levied on homeowners in a community. If you live in a condo community and the board votes to install new siding on all the buildings -they may choose to levy an SAA on the homeowners to pay for it. The same thing might be done for updating a clubhouse in a single family home community. An SAA |
