A homeowner’s association provides you with a number of benefits and regulations that are intended to protect the quality of your property and the neighborhood. Most of these rules are pretty easy to keep up with. Your average community doesn’t expect everyone to follow daily rules that would greatly affect the quality of life at home. The most common regulations focus on approval for things like property improvements, landscaping, installing a pool, etc. If you’re thinking about purchasing a home that is in an area with an HOA, there are a few things that you should think about.

They Aren't for Everyone

Some people like to live in a very regulated community where all homes have to follow the same guidelines. In many instances, people will increase their property value by living in a neighborhood with an HOA. There are other people who don’t want to live according to anybody else’s rules. Many homeowners like to make changes to their homes and properties without needing to get the approval of an HOA first. In this aspect, an HOA isn’t for everyone.

Paying Bills

A number of homeowner’s associations will join certain utilities together. This would require you to pay a flat fee that would cover things like water, sprinkler systems, electric, lawn maintenance, etc. The board of directors would make the decision as to whether or not the amount should be adjusted periodically. There is also a fee that you have to pay to the HOA. This money will accumulate. It is used on occasion for things like road repair, replacing lights, fixing sprinkler systems, replacing a sign and so on.

Every One Is Different

Each community has an HOA, and how your HOA acts will depend on a number of factors. The most influential factor is who is serving on the board. These are the people that will determine if rules will be strictly followed or not. Even if there is a book of rules that are part of the HOA, the leaders depend on whether or not homeowners will be held accountable. Some neighbors may expect everything to be run by the book. These are the neighbors that might bring a lawyer into play if there are issues with the HOA. There are even reasons you could end up suing them if they don't do the promised upkeep.

Buying a home in an area with an HOA is something you should assume will be a lifelong commitment. While there is the potential that the entire association could fold, you need to make sure that you can afford the fees long term. Also, make sure that you’re comfortable with this style of living.

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