Are Wafco Mills HOA Dues High?
A Data Driven Comparison of Greensboro Condo Fees
When someone says “our HOA dues are so high,” the next question should always be: compared to what?
Condominium dues are not arbitrary. They are driven by square footage allocations, insurance costs, reserve funding, and shared building systems.
Below is a clear, Greensboro specific comparison of named condominium communities so Wafco Mills as well as other COA residents can see where their dues actually land in comparison. Below is a clean side by side comparison of major Greensboro condominium communities.
Greensboro Condo HOA Comparison - Side by Side
Ranges shown are observed from MLS listings and vary primarily by unit size (square footage and percentage ownership allocation), plus building systems like elevators and amenities.
| Community | Building Type | Observed Monthly Dues Range | Elevator | Amenities | Primary Cost Drivers |
|---|---|---|---|---|---|
| Wafco Mills | Low rise | 210 to 275 | No | Minimal | Master insurance, exterior maintenance |
| Center Pointe | High rise | 450 to 1,100 plus | Yes | Fitness, parking deck, shared common spaces | Elevators, structural systems, insurance, management |
| Hampshire Towers | High rise | 550 to 1,050 plus | Yes | Pool, lobby, shared interior corridors | Elevators, pool, high replacement cost insurance |
| Magnolia Place | Mid rise | 300 to 475 | No | Limited shared spaces | Insurance, exterior maintenance |
| Country Club Condominiums | Low rise | 250 to 415 | No | Landscaping, shared exterior | Insurance, grounds maintenance |
| Brookside at Irving Park | Low rise | 275 to 425 | No | Grounds, shared exterior | Insurance, reserve funding |
| Fountain Manor | Low rise | 350 to 450 | No | Pool | Pool maintenance, insurance |
| Indigo Lake area condos | Low rise | 280 to 450 | No | Pool in some phases | Landscaping, insurance |
| Bramblegate | Low rise | 220 to 380 | No | Basic exterior | Insurance, exterior maintenance |
What this chart shows clearly:
High rise buildings with elevators sit in the 450 to 1,100 plus range
Mid rise and amenity driven condos cluster between 300 and 600
Low rise no elevator condos typically range from 220 to 425
Wafco Mills sits at the lower end of Greensboro’s condo spectrum.
Why Insurance Drives So Much of the Wafco Mills Budget
Condominium associations in North Carolina are required to carry master insurance policies that cover:
Exterior walls
Roof systems
Structural framing
Shared building components
Common elements
Insurance premiums have increased statewide due to:
Replacement cost inflation
Litigation trends
Reinsurance market shifts
Regional storm modeling
These increases are market driven. They are not driven by whether a board is “spending too much.”
Wafco Mills does not have elevators, staffed lobbies, or large amenity systems. The dues primarily fund insurance and exterior responsibility.
That is lean.
Condo Master Insurance vs Single Family Homeowners Insurance
This is one of the most misunderstood parts of condominium ownership.
Single Family Home
If you own a detached house, you typically carry an HO 3 policy. That policy covers:
The full structure
The roof
The exterior
Your personal property
Liability
You pay the entire structural insurance cost yourself.
Condominium Ownership
In a condo, insurance is split between:
The association master policy
The owner’s individual HO 6 policy
The master policy covers:
Structural components
Exterior walls
Roof
Common elements
The individual HO 6 policy covers:
Interior finishes
Cabinets, flooring, fixtures
Personal property
Liability
This is why condo dues include insurance. Owners are not individually insuring the full structure. The association is doing it collectively.
When residents compare condo dues to “no HOA” single family living, they often forget they would be paying:
Full roof replacement alone
Full exterior insurance premium alone
All structural exposure alone
In a condo, those risks are shared and when you buy a condo, you are in fact, choosing to be co investors on a real estate investment with how ever many other owners there are in that development. If you do not understand this, ask your real estate agent to explain this to you until you can understand the governing documents of any condo community you are considering buying into.
The Bottom Line for Wafco Mills Residents
When compared to:
Center Pointe
Hampshire Towers
Magnolia Place
Country Club Condominiums
Brookside at Irving Park
Fountain Manor
Indigo Lake area condos
Bramblegate
Wafco Mills dues are not high. They are at the lower end of Greensboro condominium ownership.
Insurance costs are real. Elevator systems are expensive. Amenity buildings cost more to operate.
Wafco Mills is a low rise, insurance funded, Board of Directors managed with professional and paid property management community. Its dues reflect that structure.
Perspective replaces frustration.
