Posted by Frank McKnew on March 2, 2020

When purchasing a home with a Home Owner’s Association (HOA), you are agreeing to maintain your property within their standards.

A monthly fee is collected, which pays for the overall maintenance and management of the neighborhood. Some HOAs collect quarterly or up front annually, depending on the company. Dues can range from $100 to $1,000/month, depending on the community. To avoid any unexpected monthly fees or dues, we require a signed Transmittal of Documents, which states that sellers have provided the covenants and regulations of the HOA to the buyers. 

It is important to note the covenants, conditions and restrictions of an HOA before agreeing to purchase. You’ll want to be sure the benefits and community amenities are a good fit for your families needs. To help avoid paying for a tennis court you’ll never use, we’ve provided just a few pros & cons about purchasing with an HOA. 

• PRO: An HOA manages and maintains areas in your neighborhood, including swimming pools, tennis courts, and other communal areas.

• CON: HOAs set the standard for your home, meaning they get to decide what is considered an acceptable appearance (paint, parking, landscaping, exterior decorations, etc.). 

• PRO: Most HOAs have after hour noise levels that must be enforced. Disputes between neighbors are handled by the association, not by the owners. 

• CON: Falling behind on dues can lead to foreclosure. 

• PRO: Communities with HOAs are typically more socially involved through meetings and community activities. 

• CON: HOA fees can be expensive! High fees typically mean more community amenities are accessible (pool, gym, tennis courts), so be sure you’re aware of what’s included to avoid wasting your money! 

When selling your home, the to-do list is endless.

With endless options, the home buying process can be overwhelming.