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Real Estate Articles Worth Reading for Real Estate. See real estate articles worth reading about buying and selling a home from many sources from around the internet including the blog.
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What to Know About Homeowners Association Dues

What to Know About Homeowners Association Dues | Real Estate Articles Worth Reading |
Many home buyers ask what an HOA is and what they do. Homeowners associations (HOAs) play a significant role in many residential communities, providing various services and amenities to enhance the living experience for homeowners. One of the essential aspects of HOAs is the collection of HOA fees or homeowners association fees. In this guide, we will examine the intricacies of HOA fees, their purpose, components, what they cover, and how they impact homeowners. When you're done reading, you'll understand the meaning of HOA fees. In my experience as a real estate agent for the past thirty-seven years, one of
Bill Gassett's insight:

HOA or homeowners association fees are recurring payments made by homeowners in a community or neighborhood governed by a homeowners association (HOA). These fees cover various expenses related to the maintenance, management, and upkeep of the common areas and amenities within the community.


One important thing to know about HOA fees is that they can vary significantly from one community to another. The fee amount is typically determined by the HOA board based on the projected expenses for the year.


These expenses may include landscaping, maintenance of community facilities such as swimming pools or gyms, security, insurance, and administrative costs. It is essential to carefully review the HOA budget and understand what the fees cover before purchasing a property in an HOA community.


Another critical aspect to consider is that HOA fees are typically mandatory for all homeowners within the community. The fees are usually collected on a monthly or annual basis, and failure to pay them can result in penalties or even legal action.


It is essential to budget for these fees when considering the purchase of a property in an HOA community, as they can significantly impact your overall housing costs.


Additionally, it is essential to understand that HOA fees can increase over time. As maintenance costs and other expenses rise, the HOA board may need to adjust the fees to ensure the community's financial stability.

Before buying a property, it is advisable to inquire about the history of fee increases in the community and any planned increases shortly. This will help you assess whether the fees are reasonable and sustainable for your budget.


Lastly, being aware of the benefits and potential drawbacks of living in an HOA community is crucial. While the fees contribute to the maintenance and enhancement of shared amenities, such as parks, playgrounds, or clubhouses, they also come with specific rules and regulations that homeowners must abide by.


These rules may govern property appearance, noise restrictions, pet policies, or parking regulations. It is essential to review the HOA's governing documents, known as the CC&Rs (Covenants, Conditions, and Restrictions), to ensure they align with your lifestyle and preferences before deciding to live in an HOA community.


In summary, HOA fees are recurring payments made by homeowners in an HOA community to cover expenses related to the maintenance and management of shared amenities. These fees can vary, so it is important to review the HOA budget and understand what is covered.





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The Ins and Outs of Closing a Home in an HOA

The Ins and Outs of Closing a Home in an HOA | Real Estate Articles Worth Reading |
If you're like most HOA board members, you never expected realty to be a part of the board’s job. Fortunately, we can help you! Click to read our post on
Bill Gassett's insight:

Buying a home or condo when there is a home owners association involved is a lot different than buying when one does not exist. You need to understand that an HOA is in charge of managing not only your property but your neighbors as well.

There is quite a bit to know about buying into an HOA including the rules as well as the financial stability. Here is an article that talks about some of the considerations of buying into an HOA.

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Pro's and Con's of a Condo vs House

Pro's and Con's of a Condo vs House | Real Estate Articles Worth Reading |
It is important to know the pros and cons of owning a condo versus owning a home. Each housing choice has its advantages and disadvantages.
Bill Gassett's insight:

Buying a condo vs a house can be radically different from one another. On the surface if you have never owned either before you may be thinking that they are not so different. This could not be further from the truth.

This is in fact a subject that not a lot of first time home buyers give a lot of thought to which is a big mistakes. In the article you will see a comprehensive discussion on the pro's and con's of owning a home vs a condo. You will see an in-depth look at the advantages and disadvantages of each of these housing choices.

It is easy to assume that the only real difference is that in the case of a condo you pay a maintenance fee and everything is taken for you outside of your unit. The opposite of course is true of home ownership where you are usually responsible for everything. This really just scratches the surface of how a condo and a home differ from one another.

Can you imagine moving into a condo only to find out you are not able to plant flowers in your front yard or put out your favorite flag?

This happens quite a bit with buyers who do not know any better. This is why as a real estate agent we always recommend going over condo docs with a fine tooth comb.

The last thing you want is to buy into a place where there are rules that you can't stand. While some condo associations are well run and have rules that makes sense - other places are run like a prison.

Make sure you do your research when trying to decide between a condo and a home. While you are looking through the article make sure you also look at the references to the quality work done by @Kyle Hiscock, @Karen Highland and @Debbie Drummond. I have included some terrific articles they have written on purchasing a condo.

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