Beyond the mortgage, maintenance and property taxes of a new home, you may not be aware that many newer communities require you to be part of the Homeowner Association (HOA). If you’re wondering about what the HOA entails and how this can impact the home and community you live in, here are some facts that may be important to know before you buy.
What Is A HOA?
If you happen to have a Homeowner Association present in your new community, it’s important to know that this body works to enforce the rules of the neighborhood. Made up of a group of volunteers that live within a given area, different community members will be responsible for different aspects of the community. While there are annual fees for an HOA and they vary from place to place, communities with this type of association often come with a higher price tag on the market. Continue here: Homeowner Association Rules: How They May Affect Your Buying Decision
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