What is an HOA?
Have you heard the term HOA and been left questioning what it stands for or what it means? Read on to learn about HOA’s.
-What does HOA stand for?
Homeowners Association.
-What is a homeowner association?
HOA’s are created by the real estate developer of a community. This organization has governing documents for the community including covenant, conditions, restrictions and other by-laws. These guidelines are set to define the principles of the community-its appearance and environment.
-What can I expect when building a home in a community with a HOA?
You will have to adhere to the specific governing documents for your community. Often times the HOA will dictate architectural design such as fences, porches, home exterior colors, etc. There may be rules about parking on the street and what type of driveway you have. Often times communities with HOA’s have amenities such as pools, clubhouses, etc. These are for community use.
-Does an HOA cost money?
Yes, there are HOA dues. These fees often cover common area maintenance, exterior building maintenance, and sewer maintenance. Less often fees include items such as trash pickup, water and cable.
In conclusion, a homeowner’s association is created to keep the community well put-together with regulations enforced to keep its members happy within the community.
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