5 Things to Know About Buying Inside an HOA

Every homeowner’s association is different. Here is what you should find out before you make an offer on a home that’s located within one.

Selling in the Austin area? Get a market analysis report

Purchasing in the Austin area? Get full MLS access

Today we’re going to be discussing five important things that you want to know when buying a home inside a homeowners association. 1. What is the cost? Location will play a key factor, and the cost can vary greatly from one HOA to another. You want to know your starting costs and your monthly costs prior to making an offer. 2. What does the HOA cover? The scope of this also varies. They might cover maintenance or insurance. You want to know exactly what you’re paying for each month. 3. What are the rules? HOAs tend to have restrictions and some are more strict than others. It’s important to know the rules, the penalties, and everything else.

The scope of what an HOA will cover can vary greatly.

4. Are you happy with the home’s exterior? You might love the inside and the floor plan, but maybe you aren’t as fond of the color of the home. If you’re buying in an HOA, many times they will dictate what color your home can be. Make sure you know about this up front.

5. Can you get involved with the HOA? Many times, the answer is yes. It’s a great way for you to know exactly what’s going on in your neighborhood.

If you have any further questions about buying a home in an HOA, give me a call or send me an email. I look forward to hearing from you soon.