What's Included With HOA Fees?
Are you looking for a home in a community with all the extras? A community with a spectacular clubhouse, workout facility, pool and golf course? Having access to these fine amenities often means living in a community with a homeowners association, or HOA.
A few things you should know the answers to before starting your home search:
1. Do you qualify for a mortgage and if so, how much?
2. How much are the property taxes?
3. Are there any mandatory fees for the community?
4. How much are the HOA fees?
If the community has amenities, always make sure your Realtor informs you of what the HOA fee actually includes. Ask for the rules and regulations that residents are expected to abide by when they live in the community.
What Does the Homeowners Association Do?
An HOA assists residents with property maintenance (provide services like lawn care &trash removal) and may include cable & basic internet services. The HOA will maintain the common areas, clubhouse, golf course, pool, etc. In some cases, if you are purchasing a condo, the HOA fee will include insurance on the structure.
The HOA is also concerned with maintaining property value and will usually have strict rules of what homeowners can and can’t do with their property.
These regulations can dictate exterior paint color, landscaping options and how many vehicles you can have or park in your driveway.
We’re Here to Answer Your Home Buying Questions!
If you have any questions about a specific neighborhood or the home buying process in general, we are available to assist you! Call us, we can help!
Michael Binder, Broker
100 Pro Realty,