What is HOA?
The HOA or Home Owner’s Association is an organization created by the residents of the community. The members of this association are property owners or property developers. This group has the legal rights to impose and reinforce certain rules and regulations observed in the community. They set these rules to maintain order, safety, and peace in society.
The HOA makes and implements rules and guidelines that all community members have to follow. The moment you buy a house or property within a community that already has HOA formed, you automatically get the membership of HOA. This gives you all the rights and responsibilities and tasks to follow the rules and regulations implemented in the community which also includes the maintenance fees which is called the HOA fee.
If you’re selling or buying a home in a community that is regulated by HOA, you’ll have to abode by certain rules. If you violate the HOA regulations it can lead to serious complications. Before buying you need to ensure that the seller is up to date with the HOA fees, which means no dues are pending with them otherwise you may end up paying it or you might not get clearance to enter the society.
If you’re buying a property in a community in Colorado Springs that already has formulated HOA, then you can always contact Springs Homes to know What Are HOA Violations for that community. Spring Homes was started by Jennifer and Joy Boylan in 1997. Since then, they have built trust between their customers by providing them accurate information about real estate and properties. They are considered the best website with the latest technology and marketing strategies.
Advantages of HOA
- An HOA will tell you what you can plant and what not. This way lawn is maintained and neatness is observed to avoid many diseases and infections around.
- They will also specify all items that should be there in your yard. This can include a certain number of shrubs, the height of the plant, and other landscaping services.
- HOA also imposes certain vehicle regulations to avoid traffic and congestion within the society. This will include parking a certain number of cars outside the condominium or house.
- Continuous maintenance of society is also mandatory. This will include repairing exterior cracked walls, seepage, broken roads, and fallen trees, etc. all this is done with the HOA fees or the maintenance fees.
- They can also have rules regarding restriction in building an outhouse, fixing of the mailbox, satellite dishes. This is done to maintain the symmetric structure of society.
Every HOA can make their own rules because there isn’t any set of rules created by federal law. Many of the residents prefer such rules if they’re staying in the community. However, those who want to sell their house may find HOA rules affecting their property value.
Disadvantage of HOA
- Those who have bought houses for investment purposes may suffer because sometimes HOA sets a limit to the number of leases within the jurisdiction.
- HOA can charge any extra fees for resurfacing the parking, replacing the condo roof, repairing the roads, from the community residents. Of course, the amount is decided after a meeting with all members, but once the amount has been decided, then there is no say.
Wellington Home Team is a full-time real estate brokerage team under Hansen Real Estate Group Inc. Michelle Gibson is the full-time realtor who assists buyers, sellers, renter, and landlords in Palm Breach County Florida. If you’re one person who prefers HOA rules more than a house and area, then they will help you with the same. They will compare HOA vs No HOA community to get the best deal for you. Michelle has a team of specialists in this field that will help in you all aspects and get the best deal.
You like it or hate it, HOA has its independence to decide for the community. Some may like it while some may object to it. HOA is created to protect you from weird neighbors, theft, and burglary. If you want to stay relaxed at home without taking care of the outside world, follow the rules of an HOA and live peacefully in a community.