Friday, April 29, 2016

What is Indian River Colony Club?

Indian River Colony Club is a gated 55+ community located in central Florida's planned unit development of Viera (just north of Melbourne, FL).  Actually, its more of a country club and a lifestyle than a development. 
This is part one of a new series on Indian River Colony Club.

IRCC was founded in 1986 as a not-for-profit corporation as a retirement destination for military offers.  Over the the years since its inception, Indian River Colony Club has evolved into a more inclusive, as well as exclusive, retirement community with membership expanded to all former military and 20% non-military veterans.  

All homes are individually owned with no rental properties allowed so residents know their neighbors are permanent.
A few interesting points about Indian River Colony Club:
  • The IRCC corporation is debt free;
  • Amenities are owned by residents including golf course, club house, multi-use buildings, pro shop, tennis courts, swimming pool and more; 
  • Home prices are less than those in other Viera 55+ communities (Heritage Isle, Grand Isle);
  • The Board of Directors, elected by the residents, determine fees and provide oversight for all activities within the gates including the professional onsite management;
  • Household maintenance (more specifics below) are covered by the monthly maintenance fee;
  • Monthly fee also covers club membership, amenities, full time on site security including 24 hour guard monitored entry, security cameras at all entrances, visitor management as well as security patrols inside community.
What is the catch? 

There is no catch but the services and amenities come with a price and this is often an issue which stops prospective buyers from fully considering IRCC.  The fees are based on floor plan of the house and can broadly range in the $800- $1,200 a month ballpark (more later in this series about fees).

But consider all the fees cover....
  • Inside maintenance including water heater, AC, heat systems, structure, electrical, plumbing, garage doors including openers.
  • Outside maintenance including roof repair or replacement (if not covered by homeowner insurance), external wall preservation, painting, cleaning, pressure washing of driveways and sidewalks.
  • Pest control inside and outside including termite protection and repair if necessary.
  • Quarterly preventative maintenance.
  • An IRCC vehicle even provides transportation to Patric Air Force Base and nearby shopping malls.
Consider all the above items covered by the monthly fee and the fee does not appear so unreasonable.

For information on buying a home in Indian River Colony Club, call or text me at 321-693-3850.