Whether you are a first-time homebuyer or a seasoned veteran, the negotiation part of the transaction can be a little daunting and stressful. However, it is necessary to ensure you are getting the
Every homeowner benefits from a well-cared for neighborhood.
Dated: November 23 2018
One thing buyers may not think to consider is whether the house is in a neighborhood with an HOA?
What is an HOA?
There are different definitions out there for a Homeowners’ Association and many operate differently from one another. A Homeowners’ Association, or HOA, is an association that works to maintain and oversee the common areas of a neighborhood or property complex.
It’s fairly common to find them in neighborhoods that offer amenities such as:
Tennis courts, etc.
The HOA is typically a volunteer-based board made up of homeowners living in the neighborhood. Many HOAs have committees that coordinate neighborhood events, review proposed changes homeowners wish to make to their property, enforce the covenants, and more.
Many buyers may be aware of association dues and regulations in multi-family developments such as condos or townhomes. Every homeowner benefits from a well-cared for neighborhood and this helps maintain home values.
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