Love Them or Hate Them - HOA

            We love or hate them - Home Owner Associations ! 

Many neighborhoods are governed by a Homeowners Association (HOA). It is important to know how an HOA works and what it means for the homeowner.
An HOA helps ensure that the community looks its best and functions smoothly. An HOA is governed by a board which is elected by the residents in the neighborhood.

The HOA is actively involved to assure the residents to have a support structure to maintain the value of the community while abiding by a set of guidelines called Common Restrictive Covenants (CC&R). Those are rules which have been set up and each resident in the community is to follow them.

Every HOA is different, depending on the size, and type of neighborhood. The HOA fee payable by the homeowners is used to keep common areas updated, safe and landscaped. Some HOA fees also cover insurance and exterior maintenance. It is very important to know what the HOA covers and what rules apply to every owner in the neighborhood. There may be additional fees or “assessments” if the reserve fund for the HOA does not cover an unexpected expense.

Before you sign, get a copy of the CC+R’s and to study them before the purchase contract is final. This is also an important reason why one should hire an experienced REALTOR who is asking questions for the buyer and checks the history of the HOA. And please let your REALTOR  know, if you prefer a neighborhood with or without an HOA. Some HOA rules are so strict that they might limit your enjoyment of the neighborhoods, i.e. ou might not be allowed to ride your motorcycle or store your boat or park your car overnight in your driveway.

More questions and more information needed ! Of course ! Just send me a note or simply call:

843-345-2625 or uappleby@agentownedrealty.com