This is Courtney Korb with the Brad Korb Real Estate Group today I’d like to answer 5 important questions about HOAs.
First, what are the costs involved? Membership in an HOA requires a monthly fee that you’ll pay on top of your mortgage payment. Make sure that you’re financially comfortable adding this fee to your monthly budget.
Second, know what is being covered. Are they covering water? Are they covering landscaping? Depending on the complex, different items will be included.
Third, what are the rules of the HOA? Many will have guidelines concerning pets, how many units are allowed to be rented out, etc. Be sure to ask about any restrictions.
Fourth, are you happy with how the complex looks? The HOA is responsible for appearances. Are the trees trimmed? Is the paint there? Are everyone’s patios looking nice? Consider these factors as a potential new resident.
Finally, can you get involved? Every HOA has a board of directors made up entirely of members living in the community. Are you willing to step up? HOAs are always looking for new residents with new ideas to take part in the committees to try to make their community look even better.
If you have any questions about HOAs, or are looking at townhomes or condos, we would love to help you. Please give us a call or send us an email. We look forward to speaking with you soon!