Thinking of purchasing a home? Before you do, consider if the home is in community with a homeowners association (HOA). HOAs have their own rules and regulations you may need to be aware of. Here is a basic guide to HOAs and some of their pros and cons.
What is an HOA?
An HOA is made to govern certain neighborhoods to benefit the community. The organization is typically made up of community members. If your home is in an HOA, you’ll need to abide by the regulations set in place by your HOA. This often includes paying monthly or quarterly fees.
HOA fees
Homeowners associations ask for property owners within the neighborhood to pay fees. Funding is put towards community gardening. It may also be put towards neighborhood trash removal. If your community has a pool or resident center, fees may also go towards the upkeep of these facilities.
Pros and cons of having an HOA
Paying extra fees may seem troublesome. Here are some pros and cons to help you decide if having an HOA is worth it:
Pros
- An HOA board can act as a neutral party to oversell minor neighborly disputes. This can include yard sign placement, grass cutting, etc.
- You may get access to fun amenities in the neighborhood.
- Your overall community is kept neat and clean.
Cons
- The HOA rules may be strict about what you can place in your yard and exterior decor.
- Additional fees to account for.
- Board members may favor one neighbor over the other.
Before you become a property owner, it’s always good to do research on the neighborhood you’re interested in. Speak with your real estate agent to learn more about the community.
About the Author
Pablo Torres
Pablo Torres is a qualified Real Estate Agent with over 10 years experience in real estate sales, due diligence and contract negotiations. Knowledgeable of South Florida neighborhoods. Currently, Pablo focuses his skills on all markets in the Miami metropolitan area.
He has the ability to understand sellers, buyers and renters needs with excellent communication. Fluent in English and Spanish with working knowledge of Portuguese. Pablo has impeccable reputation and a passion for real estate.
He graduated with a degree in International Business from Florida International University (1998) and a masters in business administration from Nova Southeastern University (2003). He had embarked on a career in commercial banking before being driven to switch to one of his passions-real estate.
Dedication, perseverance and punctuality allowed Pablo to sell different types of properties. His expertise with South Florida's cultural diversity has allowed him to sell real estate to both buyers and sellers.
Part of what makes Pablo so successful is his dedication to exceptional customer service and his devotion to their needs, whether they are buying or selling properties. Pablo has many repeat customers who cite his willingness to work long hours to resolve the toughest issues, as a reason why they stick with him. Torres integrity, attention to detail and careful handling of a transaction, exceeds their expectations. Sellers know that Pablo's extensive and personalized marketing strategies, means that their listing is seen by most buyers.
As a real estate professional, Pablo has the tools to represent your interests in virtually any transaction. Pablo's ability to interview, reason and figure out the smallest details makes every successful transaction a seamless process. Pablo is the right real estate professional to hire.
