Many prospective home buyers are not aware of the impact of buying in a Homeowners Associaiton (HOA)
Many see the GOOD but many times don't see or understand the possible BAD or UGLY.
Living in a HOA can have benefits that you may not be able to afford.
For example, walking trails, club house with an exercise area, hot tub, swimming pool and large common areas for family gatherings.
There are normally minimum maintenance standards. These can enhance the overall value of the area. Including your homes resale value.
There are those that feel they don't need to follow the rules and regulations or that they don't need to pay there monthly HOA assesment.
That can put the financial burden onto the other home owners.
Some don't see the need to maintain their property.
Strong fair HOA management is necessary to enforce the rules and regulations of the community.
The moral of the story:
Make fully informed decisions when buying a property in a HOA. Understand the rules and regulations governing the HOA. Make sure you can live with the limitations of the HOA. The rules and regulations will commonly be different in every HOA.
Obtain the latest finanical statements and HOA annual meeting minutes. Talk to current home owners and the President of the HOA.
I live in a HOA and enjoy the benefits.
Should you choose to live in a HOA. Be active in the management, attend the meetings and understand the rules and regulations that govern the association.
Happy Home Buying!
Mark Watterson is a Utah licensed Real Estate Broker with Principle Realty Group, Inc. and a Utah license Loan Officer with Springwater Capital, LLC
Contact Mark Watterson your Local Property Resource Specialist for the most up-to-date market conditions data for Salt Lake, Davis, Utah and Weber Counties. View comprehensive property resource information atwww.markwatterson.com
It's Not About the Money -It's about life long relationships that are based on Customer Service Excellence.
The "Voice of the Customer" is where it all begins. Customer Service Excellence is not just words. It's our CULTURE.
My customers refer their family and friends because of theexceptional attention to detail, customer focus and the value added services they receive. An unmatched passion and love for providing these services is the thread that binds the entire business process together making it a smooth and seamlessevent.
In fact it doesn't even seem like business. Because it's all about you, your goals and objectives.
You should expect the highest level of service and you deserve it. It's about you, the right property and your GOALS. YOU Deserve the BEST!