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HOA Questions that Need Answering

December 20th, 2016

HOA Questions that Need Answering

If you’re considering purchasing a home in an HOA community, it’s strongly recommended that you get some questions answered. In some cases, this interview may be required.

While it may seem intimidating, this is actually a great time for you to learn about the community and get a feel for what life in the neighborhood is like.

Here are some questions you could ask to help you decide whether or not life in the community is right for you.

“How Often Have Monthly Fees Changed?”

As a member of the community it is your monthly dues that pay for any and all community landscaping, swimming pools, clubhouses, etc., so knowing what those dues are, and how often they’ve changed, will help provide you with a financial outlook. You should also ask what the reserve fund is like, because in the event of an unforeseen expenditure the HOA has the power to implement a temporary hike in order to cover the cost.

“Are There Any Rules Regarding Home Improvements?”

As a new homeowner there are naturally some things you may wish to change about the home. When living in an HOA, these changes must first be approved. Want to change the landscaping? You have to ask. Want to paint the home? You first have to ask. This may even pertain to pets inside the home or working on a car in your driveway. These issues may seem excessive, but any restrictions are in place solely to protect the value of the homes inside the community. You are required to receive a copy of the community’s CC&Rs during your review process, so take some time to review its content and ask the board about any issues that you questions about.

“What are Board Meetings Like?”

Ask how often meeting take place, how long they last, and how long of a term do it’s board members serve? These questions should give you a feel for what governance in the community is like. Because these people are going to have the power to regulate life inside your home, it is important to know as much about it as possible.

Contact a member of Gore Group Realty to discover more information about available Henderson homes for sale.

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