Homeowners may be moving into their first home that is located in a community with a homeowners association while others have lived in multiple homeowners associations. Either way, there are many questions you should ask to confirm that the home you have chosen is in the right community.
The homeowners association website enables new residents to get an idea of what it is like to live in an HOA. Typically, residents will have questions depending on the amount of experience they have had living in a homeowners association.
Know In Advance!
If this is your first home in a homeowners association, there are some important questions to get answers to so you make an overall wise decision when you buy your new home. The last scenario you want to see become a reality is living in a location that you regret moving to. Do you know the rules of the HOA where you plan to live?
Occasionally, a homeowner becomes exuberant when purchasing their new home and fails to thoroughly read the governing documents of the homeowners association. Eliminate that from happening by requesting a copy of the CC&R’s and consult with your realtor about any questionable areas.
Often, a realtor will discuss the advantages and disadvantages of the association when you ask about the restrictions, fees, special assessments, and the frequency of increases. What restrictions are listed on the homeowners association website?
A Homeowners Association With Consistency!
Just like you are different from your neighbors, so are homeowners associations in the restrictions they have in place and the amenities they offer. Some residents may not agree with the restrictions of a homeowners association while others agree as they know those restrictions protect property values. Can you accept the restrictions in your community?
As well, look at the history of increases in HOA fees and frequency of special assessments. Naturally, these lead to frustration for residents so decrease the odds of this happening to you by asking the appropriate questions before making the move.