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                                        HOA Vs. No HOA 

                                                         Which one should You choose? 

 

What is an HOA? 

It’s an organization in a subdivision, planned community, or condominium that enforces the rules and guidelines on homes in their community.  You automatically become a member upon purchasing a property that an HOA governs, and dues are required.  You will also be required to abide by their rules and restrictions.  Read all the rules and restrictions and know the dues required before purchasing.  Your Real Estate Agent can obtain all this information. 

 

                                                                    Pros and Cons 

 

Pros: 

They keep up with the maintenance and cleanliness of a community (the common area) 

Maintenance of parks, pools, tennis courts, and/or recreation areas that some communities have (part of the dues go to maintaining these items) 

Some HOA communities restrict the number of vehicles, trailers, RV’s, or non-running vehicles (this can be a pro or con for others, that’s why I have included this topic in both sections) 

Some HOAs are stricter than others and have a standard.  If you do not keep up with the maintenance, there can be consequences (sometimes monetary).  Many homeowners in an HOA community want to ensure the neighborhood always looks its best and love the strict rules everyone must abide by (also included as both a pro/con). 

Some communities help homeowners with some of the maintenance costs of their homes.  Some HOAs cover roof repairs and termite or pest treatments as part of the dues, and a few cover utilities such as water (your Agent is a good start for a list of items and/or contact the HOA directly.  However, if you have more questions and are not currently working with an Agent, you are more than welcome to give me a call) 

 

Cons: 

Additional monthly, quarterly, semiannually, or annual fees 

Some have strict rules you must abide by or can have consequences (sometimes financial consequences) 

Some HOA communities restrict the number of vehicles, trailers, RV’s or have strict rules regarding non-running vehicles (please ensure to review all the rules to ensure you will be happy in the community you have chosen) 

Strict rules about modifications, outside structures, and even paint colors 

HOA dues can have an impact on your loan.  These dues are billed separately from the monthly mortgage payment and can still affect the approval.  Please always check back with your Lender to review what changes will be made to the loan, if any.     

 

In the end, only you know the right choice that most benefits your needs and situation. If you have additional questions regarding HOAs, feel free to contact me – Aida Soto, by phone at (520) 906-1621 or click here to contact me by Email.