Frequently Asked Questions

What are the Monthly Common Charges?

The monthly Common Charges will be based off square footage.  The one-bedroom homes are estimated to be in the mid to high $200’s per month.  The two-bedroom homes are estimated to be in the low to mid $300’s per month.  Common Charges will include landscaping, snow removal, trash removal, common area maintenance, outside building maintenance, building insurance, water and a reserve fund for future capital replacements (e.g. paving, roofs, etc.).

What are the Annual Taxes?

The taxes are estimated at approximately 1.8% of the sales price of the home.  Ridgefield does have a Senior Tax Credit that residents are eligible for after being a property owner in town for a certain period of time.

What about Parking?

There are unassigned parking spaces surrounding the building included for all homeowners and guests.  An inside parking space in the underground garage is available for a one-time purchase of $15,000 and then the space is in effect deeded to your home.  This space will also include a storage area directly in front of your car.  The parking space locations will be chosen by the homeowners in order of their purchase in the community. 

Are there Restrictions on Pets?

Each home is allowed one dog (up to a maximum of 80 lbs) and one cat.  If you don’t have a dog you can have two cats.

What is the Process to Buy a New Home?

A combined Non-Binding Reservation & Purchase Agreement will be completed with an initial reservation deposit of $2,500 which will start a 15-day period for you to review the Public Offering Statement (and have an attorney review if you so choose).  The $2,500 is fully refundable during this 15 day period.  At the end of the 15 days you will provide an additional check to bring your deposit to 10% of the purchase price at which point the agreement becomes binding. 

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