While an HOA may have disbanded, its CC&Rs could still be on record-and another homeowner may attempt to hold you to them. Some neighborhoods have CC&Rs but not an HOA.Įven if your potential new neighborhood doesn’t have an active HOA, you should check with the county to see if it has CC&Rs. You can also see the HOA fees on Trulia listings. Your real estate agent can typically help you to get details on a home’s HOA and CC&Rs before you buy. And if you don’t pay, many HOAs can place a lien on your home, which makes selling it difficult. If you break a rule, you may be charged a fine. If you’re a two-car household, make sure there aren’t limitations on driveway or street parking before you buy a house with a one-car garage. If you’re a dog owner, check out any dog restrictions in the CC&Rs so you don’t have to choose between your home and your dog. You don’t want to be asking, “What is an HOA?” after you’re living in one. The key to HOA happiness is to know the rules before you buy. Being an active participant helps make your HOA work better for you. If you’re really feeling motivated, you can run for the board yourself and work to change rules you disagree with. As a member, you can vote for HOA board members who represent your values and priorities. Homeowners have a say in how the HOA runs. Whether or not those benefits are worth the dues is something you’ll need to assess for yourself, so take a close look at the CC&Rs. The HOA aims to do that by making sure the neighborhood is a clean, attractive, and safe community. But the goals of an HOA’s rules are to increase property values and allow all members to enjoy shared amenities. Some HOAs have strict rules, which can make buyers think maybe they should keep house hunting. The HOA is there to protect your property value.
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The HOA’s function is to enforce those rules, which are called Covenants, Conditions, and Restrictions, or CC&Rs. That means you’ll owe monthly or yearly payments and will need to follow a set of rules. If you find a neighborhood with an HOA and buy a house there, you automatically become a member. It’s run by a board of volunteers who usually live there. What is an HOA?Īn HOA is the governing body of a subdivision, planned community, or condominium complex. If you haven’t had dealings with an HOA before, you may wonder: What is an HOA, what rules does it set for the neighborhood, and how will it affect you? Also, what are CDD fees? Fortunately, the answers are all pretty simple-and if you do your homework, an HOA can work in your favor. One of the twists home buying can throw at you is learning that a house you’re interested in is part of a homeowner’s association, or an HOA.