When youpurchase a home, there’s a good chance you’ll have to pay a homeowners association fee, especially in gated communities, townhouses, condominiums, and other similar planned neighborhoods. The idea is to keep common areas clean and maintained, and there’s usually an HOA board that is responsible for setting the rules andregulations.
Each HOA is different, but most have the same core elements. You’ll typically pay your HOA fees either monthly or annually, and it’s an important factor to consider when you’re weighing youroptionsfor a new home. So what is typically included in your HOA fees?
First, the fun stuffAmenities are typically the big perk of living in a community with an HOA. While you lose out on some of the freedom of living without an HOA, you instead get community amenities like a maintained pool, gym, clubhouse, tennis courts, and other amenities. The HOA fees pay forcleaningand maintenance, so—in theory—you’ll always have a clean pool whenever you want to use it.
Protecting the communityHOAfeesoften contribute to insurance for the community amenities, as well as a fund for unexpected repairs to damaged community property—think damage from weather or accidents.
General maintenanceYour HOA fees will go toward maintaining thegeneral safetyand upkeep of the community. This means things like elevator maintenance for condominiums, snow removal, and trash/recycling services.
Be active in the associationThere may be a board of directors, but homeowners associations exist for the betterment of the entire community, and every voice matters. HOA meetings—and the amenities they support—provide great opportunities to meet your neighbors and make your community a better place.
Author:Jimmie Miller Phone: 208-867-4020 Dated: April 13th 2016 Views: 365 About Jimmie: With 25 years of experience in both Commercial and Residential sales and ownership experience, I wil...
View our latest blog posts in your RSS reader. Click here to access.
Locally marketing includes but are not limited to: staging, visually stunning photography, virtual tours coupled with a custom tailored written description to attract a targeted demographic that has a national reach! Nationally we connect consumers to agents and Brokers who share in the same high level of customer service that we do here at National Broker Connect Real Estate.
Where Are Mortgage Interest Rates Headed in 2018?The interest rate you
"UNBELIEVABLE! When I met Jimmie and Paige they introduced themselves as realtors. I told them that I had a house that I was trying to sell on Beacon Light. They asked me if they could interview for the job of selling my home. I let them know that it was already listed however I wanted to hear what they had to say. I knew my listing agreement had already expired years ago. They shared with me their marketing strategy and I decided to go with them. I can’t believe that I had my house on the market with a “friend” for five years! What they accomplished in one week is UNBELIEVABLE to me. They actually got my home SOLD for full price in one week! If you are looking for proactive realtors who are results driven then you need to talk to Jimmie and Paige. All I can say is that they are UNBELIEVABLY GREAT!