You found that perfect home but concerned about that HOA?
Do not worry --- there is usually more benefit to an HOA than cost, but certainly, do your homework and make sure you are not buying into unnecessary drama. Here are some tips to consider...
What is an HOA and how does it typically work? An HOA's primary purpose is to maintain and improve upon the governed property over time and provide enhanced buying power with vendors or service providers. In addition, HOAs provide homeowners an opportunity to voice feedback or concern over the immediate area surrounding their property. One of the most important things HOAs can do is protect property values and the sanity of all residents by establishing clear and consistent rules for everyone to follow.
Things to look for
If you have any questions or need assistance with a property you can reach Gina Morgando directly at 941-773-7355.
- Does the HOA collect dues? If so, what are the amounts and frequency?
- Are there rules governing the amount and frequency of HOA fee increases?
- What do any potential fees cover? Services? Maintenance? Common Area?
- What are the rules pertaining to individual residences?
- Review the HOAs history and culture - how is the Board structured?