When moving into a neighborhood, you may be wondering about the dreaded HOA fees in the back of your head. Well fear not, because this post will tell you all you need to know about HOA fees!
The first and most important thing to do when it comes to HOAs is to research and do your homework! Home owner associations manages the common area and amenities of the neighborhood There are certain documents that have all the HOA information that you should be sure to read before making a decision of moving in. One of the documents is the covenants, conditions and restrictions. This is what all the homeowners in the neighborhood must abide by. These rules can limit you on many things such as maintenance or number of pets.
The HOA budget and financial statements are also very important as well. The budget should include operating expenses, salaries and utilities. Thus, if the budget is small, then you may have to spend extra money or have your dues increase. When you join an HOA, you gain access to their amenities, and this is sometimes what makes it worth it to some people. This is because you are able to enjoy things you would not be able to otherwise such as pools, gyms or tennis courts.
So in short, you need to ensure you do your homework so you won’t be surprised come move in day. Many feel that HOAs and the rules that come with it can be very limiting. Research what these rules are and see if this is something you can or cannot live with.