More and More I am seeing HOAs become the make-or-break point in transactions. They are ubiquitous in neighborhoods, especially those with condos, townhomes, or planned communities. HOAs are responsible for managing and maintaining everything outside the home, including streets, common areas, landscaping, and recreation facilities. In townhomes and condos, they also oversee the structure of buildings /homes and even some utilities. The advantages of an HOA include a well-kept, attractive, and consistent community. So, what’s the catch? And how can you tell if you’ve found the right one for you? One possible “Catch” could be that you cannot resign or remove your home from the HOA once you’ve bought your home, or there are rules on no owner occupied units or homes that may not fit into your future plans.
To help you take some of the guess work out of finding a HOA that will be a good fit for you. Here are four characteristics to consider when evaluating a potential HOA for your home.
If the community looks good, it usually means that something positive has impacted it. Of course, the opposite is also true. If you’re thinking about buying into a community, take an objective look at its appearance. Are the structures of the buildings in good repair? Are the trees pruned, the beds weeded, and the landscaping well maintained? Is the pool clean? Are any of the homes in the community eyesores? Your answers to these questions reflect whether the HOA performs its duties properly and requires homeowners to do the same.
You have every right to know what’s going on in your community. Do your research. Figure out how the HOA board communicates with its homeowners. The options can include newsletters, websites, annual reports, and emails. Check for flyers advertising community meetings. If the HOA encourages homeowners to attend committee meetings, it’s a good sign that their input is valued.
The best HOAs put checks and balances in place to safeguard against the risk of financial mismanagement. They employ a second set of eyes (someone not on board) to collect dues, pay bills, and review checks and invoices to ensure the HOA’s financial affairs are in good order. Often the second pair of eyes is a professional property manager, a lawyer, or an accountant on staff.
The best HOA boards should run structured and business-like meetings that provide transparency to every decision. Homeowner associations (HOAs) have rules known as Covenants, Conditions, and Restrictions (CC&Rs) that supersede city, county, and state laws and can come with hefty fines if violated. This is why it’s crucial to know if you’re moving into a community with a strict HOA. CC&Rs should be applied objectively and fairly throughout the community, but sometimes, they may only be enforced if a neighbor complains. Take a tour around the community to see if CC&Rs are applied consistently – if everyone’s landscaping is immaculate, the HOA is likely strict. But if some homes look run-down and others don’t, it’s a sign that the HOA may be lax in enforcing their rules.
Hey there! I’m Maureen, a lifestyle blogger and Real Estate Broker at American Classic Homes Real Estate in the Pacific Northwest. Here to help you find your perfect home and share tips on living your best life in the PNW. Let’s come home together to the Pacific Northwest!
