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What are the pros and cons of living in an HOA community as a first-time home buyer?

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If you are a first-time home buyer, you may be wondering whether living in an HOA community is a good option for you. HOA stands for homeowners association, which is an organization that sets and enforces rules and standards for a neighborhood or a condo complex. HOA communities can offer many benefits, such as amenities, maintenance, security, and aesthetic appeal. However, they also come with some drawbacks, such as fees, restrictions, conflicts, and bureaucracy. In this article, we will explore some of the pros and cons of living in an HOA community as a first-time home buyer, and help you decide if it suits your lifestyle and budget.

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1 Benefits of HOA Services

One of the main advantages of living in an HOA community is that you can enjoy various services and facilities that are provided by the association. Depending on the type and size of the HOA, these may include landscaping, snow removal, trash collection, pest control, pool, gym, clubhouse, playground, tennis court, golf course, and more. These amenities can enhance your quality of life, save you time and money, and increase the value of your property. Moreover, some HOAs may also offer insurance, legal assistance, dispute resolution, and social events for their members.

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Tom Braatz 262-377-1459

Residential/Commercial Specialist/Business specialist.Short Sale/REO Real Estate Broker. Business & SBA Specialist
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I’ve seen Home Owners Associations really add some amazing ideas and value in my 38 years of selling real estate There’s a balance because when a HOA truly comes through it can even lead to people wanting to buy because of a HOA. It’s nice because people are looking out for home owners and to continue to find even more innovative ideas to benefit all

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2 Costs of HOA Fees

Another important factor to consider when living in an HOA community is the cost of the fees that you have to pay to the association. HOA fees vary widely depending on the location, size, and services of the HOA, but they can range from a few hundred to a few thousand dollars per year. These fees are usually mandatory and non-negotiable, and they may increase over time due to inflation, emergencies, or special assessments. If you fail to pay your HOA fees on time, you may face late charges, liens, or even foreclosure. Therefore, you need to budget carefully and review the financial statements and reserves of the HOA before buying a home in an HOA community.

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Tom Braatz 262-377-1459

Residential/Commercial Specialist/Business specialist.Short Sale/REO Real Estate Broker. Business & SBA Specialist
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In many HOA a buyer can get a lot for their money because there is strength with more participants and more can be established as a whole rather than an Individual. One thing I tell home buyers is to get a written copy of everything the HOA may include ( Ex: sewer, water, parkways ) verify the same

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3 Restrictions of HOA Rules

Another aspect of living in an HOA community that you need to be aware of is the rules and regulations that the association imposes on its members. HOA rules are designed to maintain the uniformity, safety, and harmony of the community, but they may also limit your freedom and creativity as a homeowner. For example, some HOAs may have strict rules about the color of your house, the type of your fence, the size of your yard, the number of your pets, the noise level, the parking space, the visitors, the rentals, and more. If you violate any of these rules, you may face fines, warnings, or legal action from the HOA. Therefore, you need to read and understand the covenants, conditions, and restrictions (CC&Rs) of the HOA before buying a home in an HOA community.

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Ellis Posner

Broker of Record at Ellis Posner Real Estate
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HOA restrictions are often the biggest surprise first time home buyers experience because they often are, quite restrictive. In addition to some of the previously stated examples, some communities will penalize owners if they leave their garage doors open, do not promptly remove trash bins after they are emptied and, in extreme examples, not pulling out weeds! Just remember that HOAs are not just limited to condos and townhomes. Many gated communities also have recorded CC&Rs as well as HOA rules even if the homes are zoned as Single Family Residences.

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Tom Braatz 262-377-1459

Residential/Commercial Specialist/Business specialist.Short Sale/REO Real Estate Broker. Business & SBA Specialist
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So great pluses to a HOA put one should get an Idea of the HOA, if it is owner controlled or offsite management and other important variables . If you have people that are on the HOA that are too difficult, not time sensitive or having a lack of care it could lead to many headaches

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4 Conflicts of HOA Management

Another potential downside of living in an HOA community is the possibility of conflicts and disputes with the HOA management or other members. The HOA management is usually composed of a board of directors and a property manager, who are elected or hired by the members to oversee the operations and finances of the association. However, sometimes the HOA management may be inefficient, unresponsive, unfair, or corrupt, and fail to address the needs and concerns of the members. Alternatively, some members may be unhappy, uncooperative, or disrespectful, and cause problems or complaints for the HOA management or other members. These situations can create tension, frustration, and litigation within the community, and affect your peace and enjoyment of your home.

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Tom Braatz 262-377-1459

Residential/Commercial Specialist/Business specialist.Short Sale/REO Real Estate Broker. Business & SBA Specialist
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I had touched in this earlier . I saw one HOA which over time made sure the association was made up of people that would agree with them rather than loom out for everyone as a whole

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5 Bureaucracy of HOA Governance

Another challenge of living in an HOA community is dealing with the bureaucracy and complexity of the HOA governance. The HOA governance is the system and process that the association uses to make decisions, communicate information, enforce rules, collect fees, handle disputes, and manage projects. The HOA governance is usually based on the bylaws, policies, and procedures of the association, which are often lengthy, detailed, and legalistic. As a member of the HOA, you have certain rights and responsibilities, such as voting, attending meetings, reviewing documents, requesting changes, and participating in committees. However, these activities may also require time, effort, and patience, and sometimes you may feel overwhelmed or dissatisfied with the outcomes.

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6 Tips for Choosing an HOA Community

If you are still interested in living in an HOA community as a first-time home buyer, here are some tips to help you choose the right one for you. First, do your research and compare different HOA communities in terms of their location, amenities, fees, rules, management, governance, and reputation. Second, visit the community and talk to some of the residents and board members to get a sense of the culture and atmosphere of the community. Third, review the documents and records of the HOA, such as the CC&Rs, bylaws, financial statements, reserve study, meeting minutes, and violation history. Fourth, consult with a professional real estate agent who has experience and knowledge in working with HOA communities. Fifth, weigh the pros and cons of living in an HOA community based on your personal preferences, needs, and budget.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What are the pros and cons of living in an HOA community as a first-time home buyer?

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1 Benefits of HOA Services

2 Costs of HOA Fees

3 Restrictions of HOA Rules

4 Conflicts of HOA Management

5 Bureaucracy of HOA Governance

6 Tips for Choosing an HOA Community

7 Here’s what else to consider

Working with First-Time Home Buyers

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