Moving into a homeowners association or HOA is a dream for many. Many people spend years saving up money to buy a house in an HOA. This is mainly because there are various amenities inside the community that you can benefit from, you can engage with new people, and it is also a good choice for people with children.
However, moving into an HOA can be an exciting as well as a scary process. After all, it is a significant change in your life, and you might have to make a few adjustments before fully adapting to the new environment. If you are already part of an HOA struggling with management, Chandler HOA management companies can help your board members facilitate the work.
Things To Know For Moving Into An HOA
Rules and regulations
Before moving into an HOA, be sure to check out their CC&Rs. CC&Rs or Covenants, Conditions & Restrictions contain the governing rules of an HOA. They have information about what you can and cannot do with your house. For example, there may be rules about your house’s exterior, vehicles, pets, etc. It is essential to go through the documents word by word before moving in, as breaching rules may lead to fines.
The HOA board or your estate dealer usually is responsible for providing you with the governing documents when you buy a house. However, you may find a digital copy on their website. Make sure that their website has the latest version of the documents. You can ask for a copy from the board as well.
HOA fees
When you move into an HOA, you would have to pay a monthly fee. This fee is collected from all homeowners and is used to fund various HOA-related work to maintain the value of the community. This fee can vary from community to community, depending on the size, location, and amenities of the HOA. For example, an HOA with little to no facilities will charge less and vice versa. This fee may also be used for repairs, replacements, and improvements in the community.
Home exterior
To maintain the community’s aesthetic appeal, HOA’s often have a set of rules about what you can and cannot do with your property. This can include the color of your walls, the size of your lawn, which trees you can plant, etc. This may sound absurd to many; however, these are maintained to make the area look uniform. Therefore, if you already have plans for your house’s exterior, make sure that your plans do not break any of the HOA’s rules.
So you see, moving into an HOA may not be suitable for everyone. You will need to compromise many of your choices to abide by its rules. However, you can expect to reap benefits from living in an HOA as well.
