Here’s what to expect from an HOA.
If you’re considering buying a home in an HOA, be sure to thoroughly read and evaluate if it makes sense for you to live in such a community. There will be restrictions, guidelines, rules, and regulations, and while many people find that they keep the community nice and uniform, not everyone likes it.
Living in an HOA will come with fees for the amenities and common areas. Sometimes these can be savings, such as when the cable, internet, and phone service are included because the HOA has negotiated a bulk rate with the provider.
HOAs also have a community board, which will decide what type of community they want to have, such as what kinds of pets are allowed. There are often restrictions on certain breeds or weight classes for pets, whether you’re an owner or a renter.
"Ask questions upfront, read the rules and regulations thoroughly, and ensure that it makes sense for you financially."
On the subject of renters, HOAs may also have rental restrictions in place. It might be that you can only rent a certain number of times per year, for example. They may also have restrictions as to how you can alter your property, be that putting up a fence, using certain paint colors, or what types of vehicles can be parked in the driveway. It’s common to have a motorcycle or truck restriction; often, they’ll restrict work trucks, meaning that trucks with lettering on them aren’t permitted.
Before buying a property in a community with an HOA, be sure to ask questions upfront, read the rules and regulations thoroughly, and ensure that it makes sense for you financially. If you’ve been considering purchasing within an HOA or have questions about doing so, be sure to reach out to me via phone or email. I’d love to help you.
