Expert Author Brandy L Unruh
I
had a potential buyer call me about possibly moving to Colorado from another
state the other day. He was interested in the Boulder area wanting to be near
shopping, dining, entertainment all of the fun, a standard for the areas that I
work in. During that conversation the buyer said under no circumstance did he
want to live in a community with an HOA. This stopped me in my tracks. HOA's are
not always seen in the best light however , more often than not they are there
to protect you the home buyer. I know that in my neighborhood if it wasn't for
the HOA, there would be dog messes everywhere as that is where a good portion of
our dues go (unfortunately). It seems that in the area that I sell homes that
there are so few communities anymore without them I really had to dig deep in my
explanation as to why this may be difficult in the area that he described as
desirable. This made me realize that there is a real need for people to
understand the basics of what HOA's are all about, so they seem a lot less
intimidating.
An Homeowners association is an entity
that governs a An organization in a subdivision, planned community or
condominium that makes and enforces rules for the properties in its
jurisdiction. HOAs also collect monthly or annual dues to pay for upkeep of
common areas like parks, tennis courts, elevators and swimming pools among other
items as well. They can levy special assessments on homeowners when the
association lacks sufficient reserves to pay for unexpected repairs, as well as
deliver fines when the homeowner is not following the Declaration of Covenants,
Conditions and Restrictions or CC&R's as they are commonly called. Without
HOA's in many suburban and urban communities there would be a lot less to be
desired aesthetically and otherwise. They prevent your neighbor from painting
their home undesirable colors, and your other neighbor from leaving the big
bunny blow up decoration out year around. They can often be misunderstood as
strict, but often it is to benefit the community as a whole.
What does it
cover?
Every HOA is different and it also depends on the type of community
that the HOA is governing but here is a short list of the most common items that
the fees go to. It is unlikely that your HOA will cover them all but there is
usually at least 2-3 items on the list.
If you want to know more about Home, you can read more articles at Modern Home Decor.
