Any negatives in Lakeside Crossing??? (Conway: house, buy, maintenance)

[merrymax]

I live in Lakeside Crossing and it's a beautiful community. We have two gorgeous bldgs, one is our clubhouse and the activities are wonderful. I remember when this was first going up, the clubhouse/centers made me say WOW and it's still the same today.

Now if you want to spend $250K-400K and have a lower monthly fee you can do so. Think of all the money you are going to be sitting on or the money you'll have to come up with. I don't know of any other 55+ in this area that has the activites/clubhouse that we have.

You can pick up a resale at LC very reasonably and be in a nice over 55+ community, there virtually is no competition. Unless of course you can go rent an apartment where the rents can be double what is paid here and the rent goes up to whatever they want. If you're on a limited budget this place is the ONLY one you will be living in luxury for this low fee. The increase we get is 3% which equates to $12-17 a month. Sure some complain that it goes up but tell me what doesn't. The value is here they're always working on the grounds, planning activities and seeing that people are happy.

Doctors, hospitals, tons of shopping, easy access to everything and live in this lifestyle is a win win situation!

[tiggeerrific]

What does the lot fee include? does it cover taxes ,lawn care

[merrymax]

The lot fee includes, trash, lawn cutting, edging and the activities/club houses. Bush trimming, mulch is owner's responsibility (not costly). Taxes are around $130-275/year - yes a year depending on what house you buy. I'm only aware of FL & NV there are communities similar to this one and the fees are between $700-950 a month and the taxes are much higher.

[Love-It-Here]

For all those reading this thread. Here are some facts:

The homes are on leased land and there was some protests back in 2014, early 2015... but those protests have stopped.

There is a fee to live on leased land. It is not a HOA fee. The current rate is between $300 and $600. I actually live in Lakeside Crossing. My fee is in the high $500s. So what does the fee cover? First, because you are on leased land, if you are over 65 years old, your annual taxes will be about $250 for the year. If you were not on leased land and not living in a over 55 community, you can expect your taxes to be 6-8 times that. Second, your grass is mowed, your yard and driveway is edged, and your trash is picked up weekly. Third, you have world class amenities that can not be found anywhere else. Fourth, your have a full time Activities Director on site that puts out a calendar and plans social events. There are so many things to do, you can not possibly do them all. I am busy every day.

Soble Company originally owned Lakeside Crossings. They sold the property to Sun Communities in June 2015. Sinnce then, Sun Communities has: rebuilt and updated the indoor pool, bought in all new Gym equipment, repainted the ballroom, resurfaced the tennis court, installed fountains in the lakes, approved the community to be gated and are currently reviewing bids, signed a contract for the installation of an outside pool and deck with firepit, built a new maintainence building, and they have many other things in the works.

They did a lot rent analysis and set a standardized the lot rent. The higher lots rents were capped.

We have over 400 homes here and you will not find any owner who is not happy with Sun Communities. They have done everything they said they would and more.

Property values that were hurt with the housing crash are coming back up now.

There still is the problem that if you are buying as an investment, it may be harder to sell because you must sell to 55 and over. But if you are buying because you want world class amenities and a lifestyle with great friends to socialize with, then this is where you want to buy.

[CTyankee54]

I believe you have overstated the tax burden when living on non-leased land. I am under 65 and own a $200K home on which resident taxes are only $800/year which is significantly below the 6-8 times $250 stated.

Other than that, I concur that Lakeside Crossing is a nice place as long as you understand that you're on leased land and at the mercy of the owner of the land for the lease amount for the land on which the house that you own sits.

[dduckoh]

Lakeside Crossing was purchased by Sun Communities in June of 2014. They have done a fabulous job managing the property.

- Added fountains to the lakes
- Did a market analysis of the lot rents, and set the lot rents at market price
- New outside pool is almost complete
- Community will be gated in the near future

So lets talk about this so called high lot rent. The highest is $600, and thats for a lake lot. I have one. I have lived here for 4 years. So what do I get for that? My home is beautiful, sits on the lake with views of all three fountains, my grass is mowed, my driveway and flower gardens are edged weekly, trash is picked up weekly, because I only own the home and not the land my taxes are only $250 a year, and I have use of all the facilities. These include, the indoor pool which is huge and includes a 19 person hot tub, the almost finished outdoor pool, the fitness center that is fully equipped with brand new equipment, the pub which seats about 150 and contains four billiard tables, the ballroom the seats 300 and parties are held there regularly, the business center that has two computers, the library that is fully stocked and you check out books, return books, and donate books on the honor system. Then there is the pickleball and tennis courts, the fishing pier, and the paddle boats.

But thats not why you buy in Lakeside Crossing. You by there for the fellowship. There is a full time activities director to assist in scheduling events. You can find virtually any card game imaginable being played throughout the week in the clubhouse. There is the billiards league, happy hour on Thursday and Friday night, pot lucks all the time. There are many different groups of golfers, and you can golf every day if thats your cup of tea. There are so many activities that you have to determine what you want to do and what you don't have time for. We go to Myrtle Beach Peliguin's games, Carolina Forest High School performances (that are amazing), go on cruises and travel the country as friends and neighbors. So if you are active and like to do things with friends, Lakeside crossing is where you want to be. If you are going to sit in your house and watch TV all day, then you might want to look elsewhere.

You buy in Lakeside Crossing for the lifestyle, fellowship, and friends. We like to think of each other as family and for the most part, everyone looks after each other and helps out in times of need.

Location wise, we are 10 minutes from the beach, Conway hospital and medical complex is a mile away, Walmart is really close, and restaurants and shopping close by.

Now the negative. Is it hard to resell? It can be if you home was not kept up. And you need to realize that you are in a 55 and over community. That means your pool of potential buyers is considerably smaller. There have been over 20 resales in the past year. Some were on the market for quite awhile, others sold in days. My advice is that if your are buying for investment purposes, you may want to look elsewhere, if you are buying a retirement home as your last home and want the Lakeside Crossing lifestyle, this is the only place you will find it.

[robbie0212]

Do not be fooled! We foolishly bought here....and are so unhappy...the workmanship is very poor. The management team is even worse! The left hand dosnt know what the right hand is doing....they yes you to death...if you want something done you have to keep after them...then they complain you have a bad attitude...my street is new...there ate already three homes for sale...DO NOT BUY HERE! BAD...BAD...BAD...we have tried calling corporate and get no replies..

[SPARKY12]

Did that development get some flooding during Matthew or any other time? I thought that it had.

[robbie0212]

Yes...very very bad flooding...i have pictures ill try to post for you...front entrance had over 2 feet...i dont know how many homes flooded up there because like i said ive only been a resident for 3 1/2 months....we live in newer section and we had flooding on all streets....we had a pond in our back yard & water under our house...alot of residents have sum pumps we are going to have to get one also. I am trying to post pictues but this link wont let me...my email is robbie0212@yahoo.com if youd like email me & ill send them to you...goodluck

[robbie0212]

I forgot i dont know about Matthew...but this last storm is what i am referring to..