If you’re thinking about buying a home, there is a critical piece of information you need to know before you commit to the purchase. That critical piece of information is the answer to this question: “What is the HOA like?” The HOA – or Homeowners Association – that exercises authority over the community in which your future property exists can have a major impact on your enjoyment of the property. This can either be a negative impact or a positive one, depending on your viewpoint.
HOAs have a significant impact on the day-to-day operation of a community. It may determine things like how short you cut your grass to where you can install solar panels to where you can hang your clothes outside, among many others. This impact has caused many potential property owners to do some research on the HOA in the neighborhood to see if their rules and bylaws are acceptable to them.
The Effects of an HOA
Homeowners Associations can have a wide range of responsibilities and impacts on a neighborhood. These can range from making sure the community pool is clean and maintained to ensuring all lawns have a similar look and feel to ensuring that a neighborhood stays safe from crime or dangerous hazards. In certain states, an HOA can even perform what’s called a “non-judicial foreclosure” on a property, if they have the right kind of justification.
We mention this because the fact is that most HOAs can have a significant impact on the day-to-day goings-on of your community and property. This can either have a positive or negative effect on you and your life, depending almost entirely on your point of view. For that reason, we recommend spending some time checking into the local HOA before committing to a property purchase to see if you can live up to and/or agree with their standards.
