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When purchasing a new home or condominium there may be an HOA involved. An HOA, or Homeowners Association, will charge monthly fees for the upkeep of common areas. HOAs will also regulate the outward appearance of your home. Such rules and regulations can include how you do you landscaping, what color you can paint your house, and even the height of fences being put in. It is good to familiarize yourself with the aspects of dealing with an HOA. If any discrepancies do occur, Robinson, Seiler & Anderson, LC, our Provo Real Estate Lawyers can help.
Learn the Rules
Before moving into a home or condominium that is managed by an HOA, it is always a good idea to familiarize yourself with the rules and regulations set forth by the HOA. Pay particular attention to the regulations regarding fines, process of changing HOA rules, and the process of foreclosure due to non-payment. These rules should be available to you online or by request of your realtor.
Consider your Personality Type
Living in a community that is regulated by an HOA might be difficult for some to do. They are highly involved in telling you what you can and cannot do to your home. If you are someone that does not take well to being told what to do, perhaps a neighborhood regulated by an HOA is not for you.
HOA fees will differ depending on the neighborhood. Make sure you ask the proper questions regarding any and all fees when purchasing your new home or condominium. Good questions to ask include: How are HOA fee increases set? How often do increases occur, and by how much have they historically been raised? Find out what the monthly dues cover. Will you still have to pay extra for garbage pickup? Is cable included? Finding out all the details will help you in the process of decided which home is right for you.
It is smart to do some research on the current management of the HOA. Often times under management can occur. When a manager is less involved, repairs won’t be made and residential grievances won’t be heard. Depending on the HOA residents may take turns serving as acting president of the association, so it is good to be prepared for the task.
Listed above are just a few things to look for when considering a home that is regulated by an HOA. Make sure you take the time to do the necessary research and consider if this is right for you. Robinson, Seiler & Anderson, LC, our Provo Real Estate Lawyers represent homeowner associations and homeowners. If you have any questions regarding a dispute with your current HOA please contact one of our experienced Provo Real Estate Lawyers today.