Most communities have an association for homeowners, condominium owners, property owners, or similar bodies. The existence of a homeowner’s association, or “HOA,” introduces another layer of regulations and rules worth considering before you buy a home. Although some individuals prefer these associations, others hate them.


Homeowners’ Associations

Some HOA have quite simple rules such as no overgrown lawns, non-working motor vehicles, or abandoned vehicles allowed. Others have more restrictions when it comes to architectural alterations. Before you can repaint your house, a review board must approve your paint scheme. I am serious!

Fines and Dues

  • A few of these associations add a sizable amount of cost to the home purchase by means of high monthly, quarterly, or annual dues. A more aggressive association may even attempt to impose levies on homeowners for improvement projects.

Pet Restriction

  • Some associations have limitations on what kind of pets a owners may have. If they do allow pets, there may be certain limitations on the hours they can be outside.

Parking Restrictions

  • Parking places are likely to be assigned, and often paired with an aggressive towing policy for violations.

Maintenance & Service Fees

  • Some associations in general make life pleasant and trouble-free providing maintenance on other services. While these are nice benefits, all these services come with an associated cost. Make sure you are comfortable with them.

Look Before You Leap

So, as you can see, it would be incredibly wise to know what you are getting yourself into before investing in a home attached to an HOA.

Whether your concern is protecting the value of your investment or maintaining your freedom to choose, it is wise to check out those things that may limit your control and raise the cost of homeownership.