What’s to know about HOA’s?
Purchasing a home with Home Owner Association fee’s is common if you’re purchasing within a planned development such as one in a gated community, townhome or condominium. While each HOA is different, most have the same typical characteristics when considering what’s covered by the fees you pay every month. The premise behind the Home Owner’s Association is to ensure that your neighborhood and communal areas are always maintained and clean. Here are some of some of the things covered by your monthly HOA fees:
- Ammenities – This includes things like cleaning and maintenance of community pools, tennis courts, clubhouse, gym and any other communal areas.
- Safety – Repairs to building damage, elevators upkeep, services associated with weather damage such as snow removal, cleanup caused by a windy day etc. Any occurrence or issue that has the potential to cause harm or injury to residents if not taken care of.
- Involvement – You have a voice in the type of support implemented within your community. While most HOA’s have board of directors, having the association is an effective way for you to take part in discussion and decision making that’s involved with making your community better.