What to Look For in Your HOA
Posted: November 6th, 2019
Did you know that there are more than 370,000 homeowners’ associations across the U.S. representing more than half of all owner-occupied homes in the country? According to LawDepot.com, HOA’s are set in place to “provide structure to a community, protect property value, and ensur[e the area] is a pleasant place to live.” But sometimes, in their quest for cleanliness and uniformity, homeowners’ associations may try to enforce rules that leave homeowners feeling frustrated.
If you’re preparing to start your search for a new home in Brevard County, it’s important to pay attention to the homeowners’ associations in your selected neighborhoods. Here are a few of the things you should look for to help you make sure you choose the best with none of the stress.
Reasonable, Clearly Defined Fees
As with any other contract you enter, you want to make sure you know exactly what your dollars go toward in your homeowners association agreement. During your home search, your realtor should be able to provide you with your intended HOA’s current fees as well as their fee histories.
Keep in mind that the size of the development and the number of amenities within will have an effect on expenses. However, if you see large, unreasonable increases in fees over the years, you might want to look elsewhere.
According to Investopedia, HOA fees range from about $100 to $700 a month, with the average resting right around $200 monthly. Be sure to include the projected HOA fees in your budget to ensure you can afford your selected home.
Amenities You Actually Want
Part of your homeowners’ association fees will go to the establishment and upkeep of community amenities. At first glance, it’s great to live in a community that has a pool, tennis court, and clubhouse -- but if you never use them, there’s no reason to pay for them.
Every neighborhood in Brevard County presents a different lifestyle for its residents, from the active go-getters to those who prefer peace and privacy. Pay attention to the lifestyle amenities around your selected neighborhood and if possible, speak to a few of the residents to get a glimpse at community living.
Rules You’re Comfortable Following
Homeowners' associations set forth a series of standards to keep their communities beautiful and maintain or increase property values over time. While that’s a noble goal, sometimes the rules they establish may be too restrictive for your comfort.
Your HOA can determine everything from how tall your grass can grow to what color you can paint your front door. If you find your selected HOA’s rules too restrictive, it’s best to look elsewhere rather than to get into a fight.
When they’re established and run correctly, homeowners’ associations can make your life as a homeowner easy and stress-free. Talk to one of Ellingson Properties’ Brevard County real estate professionals to learn more about the different neighborhoods around the Space Coast and all the amenities they have to offer. Call 321-750-7050 today.