Is an HOA or Home Owners Association right for you? This is an important question to ask before deciding on your new home. First of all, what is an HOA? HOAs are a group of people that govern a subdivision, condominium or planned community. The association collects monthly fees from all owners to pay for common area maintenance, handle legal and safety issues and enforce restrictions set by the developer. So, by now, you are either getting a warm comfortable feeling when it comes to HOAs or, you may be feeling a little uncomfortable with the idea. Either way you are not alone.
If you like the idea of an orderly neighborhood and you don’t mind the monthly or yearly fees, then an HOA may be for you. If you prefer to not have standards place upon you and would rather live by your own set of rules, then you may want to avoid communities that are governed by an HOA. Regardless, be sure to know the pros and cons as either decision is one you’ll live with for years to come. And most importantly, if you do choose to go with an HOA, make sure you know the rules of the particular association.
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