There are many places where you live that may have a homeowner's association (HOA). Regardless if you live in a town home, apartment, or house, you may be forced to deal with these. This means certain rules and regulations are set into place that must be followed by the residents who dwell on the property. If this applies to you, it's ideal to know as much as possible about your HOA.
One of the things many homeowners strongly dislike is the fees that are associated with HOAs. These are typically put in place because of the care that may be provided for your property. This could range from landscaping and lawn care to having a gym facility on site. Additionally, there are administrative fees that must be put into place as well.
The average amount you may need to pay monthly for your HOA fees usually ranges from $200–400. You may want to ask some questions when you first move into your place about how frequently these are increased and what is precisely covered with these fees.
It's common for certain things not to be allowed when there is an HOA in place and some of these are listed below:
- You may not be able to have an above ground swimming pool.
- It may be against the rules to have an RV setting in a public place that is easily visible to your neighbors.
- You may be required to mow your lawn every so often or avoid it growing to a certain height.
- Your mailbox may need to be the same as others around you.
- Pets may have to be within a certain size or weight to be allowed.
- Sheds on the exterior of your property may need to be a certain size or quality.
Most HOAs have meetings monthly, and there will be minutes taken at these. It's a good idea to get a copy of these and look for any conflicts that may have been discussed. You can also do some research to see how long it took to get these resolved.
Knowing as much as possible about how your HOA operates can help you in the long run.
There are benefits to living in a community that has an HOA in place. Some of these may include various facilities that you can enjoy or just having a place to live that looks nice. Be sure to speak to the real estate agent who assists you in purchasing your home for more specific details about your individual HOA or talk to an HOA management like The Noble Company of South Carolina, LLC.