Many types of property, from small condo buildings to sprawling, gated golf communities, are managed by homeowners associations (HOAs) which typically collect dues in exchange for amenities and services. If you’re considering a home with an HOA, evaluate all the potential benefits and drawbacks. What benefits are offered? Community features: Do residents share access to a pool, fitness center, or other amenities? Seasonal maintenance: Do HOA dues cover mowing, snow removal, and street cleaning? Does it manage pest control? Repairs and improvements: How are buildings, roads, sidewalks, and parking areas maintained and potentially upgraded? What restrictions are imposed? Remodeling: It may be okay to paint your interior walls without running your plans by the board, but will you need approvals for things like exterior paint colors and changes to your plumbing or electrical systems? Landscaping: HOAs may restrict the types of trees, plants, and shrubs allowed and usually impose standards for keeping your yard looking nice. Renters: Can you rent your home if you desire? If so, check on any standards or procedures for approving tenants. Pets: Some HOAs restrict the number of pets allowed, their weight, or their breed. Home office: Do you have a small, home-based business? If so, make sure the HOA does not prohibit home-based commercial enterprises. Parking: Are there adequate parking spaces? If spaces are assigned, can you transfer yours to a renter? Where can visitors park? Trash and recycling: Are trash and recycling collected outside your door, at the curb, or in a collection area? What are the rules concerning large item disposal? Storage: Where can you store a bicycle or other large items? Some HOAs prohibit keeping things in other residents’ view. How is the HOA managed? It’s essential to inspect the HOA, too. Learn who serves on the board, read their minutes, study their financial reserves activity, and discover if projects are planned that will require raising the dues or imposing a special assessment. These and other questions can help you feel comfortable that the association is well managed or spot any potential red flags before you buy. Check out the National Association of REALTORS® Consumer Guide on HOAs . Let’s talk, I can answer any additional questions you may have. The Center for REALTOR® Development (CRD) confers the the Accredited Buyer’s Representative (ABR®) 

Written By Sarah Goodseller