Whether you love or hate them, homeowners’ associations offer benefits that cannot be denied. They ensure that everybody gets along just fine. If you have decided to buy a home in an HOA neighborhood, it’s important to know a few things about them.
The best way to do so is by asking them these questions:
What are your rules and regulations?
Every HOA has a list of rules and regulations. Ask for an updated copy of these rules. Check whether the rules are in line with your preferences. If you are installing metal privacy metal fences, learn if there are certain restrictions. How about pets? Knowing all these will help you decide whether to settle in the neighborhood or look elsewhere.
How much do you charge?
To live in an HOA neighborhood, you’ll need to pay certain fees every month, quarter, or year. Find out what and how much these fees are, and how soon they start putting a lien on someone’s home. Don’t forget to ask how often the association increases fees.
More importantly, find out what the fees cover. Some will cover more than just trash collection and community pool maintenance. Getting this information will help you set the right budget.
What problems does this association have?
If you are moving into a neighborhood whose HOA has a history of disputes with homeowners, then you need to know the details early enough. Talk to a few residents to find out whether they’re happy with how the HOA runs things. You can also request a copy of the association’s minutes of previous meetings to find out more.
Your experience living in a neighborhood with an HOA will depend on how the association runs everything. As part of due diligence, it is important to learn a few essential things about the HOA before buying a house in the area.