If you plan on buying a home in Southern California one of the most common things you will encounter are Homeowners Associations but many people actually don’t know what an HOA actually does other than the fact that they may have to pay HOA dues every month.
In this post we will share with you what services an HOA offers so you will be more knowledgeable about how a Homeowners Association benefits you if you ultimately decide to buy a home or townhome in an HOA community.
Homeowner Association Basics
Depending on the HOA community that you choose to buy a Southern California home, your homeowners association may charge a fee between $20 and $1500 per month but the upside of paying this fee every month means that you will also have access to amenities that you wouldn’t find in other communities like a fitness center, tennis court and swimming pool.
Besides having access to nice amenities in your community your HOA fees will also cover the cost of maintaining common areas including landscaping, sidewalks, parking garages, elevators and the exterior structure of your building so you don’t have to.
HOA’s Protect the Value of Your Investment
Another benefit of Homeowners Associations is that the money you pay in fees each month will also go towards protecting the value of the investment you’ve made in your home because HOA rules will do things like stopping other homeowners from painting their houses horrible colors or choosing landscaping that will only lower the value of your home.
Before Buying a Home in an HOA Do This
Although you may be excited about buying a home that’s already part of a Homeowners Association the reality is that the home you want to buy could already be in violation of HOA rules so it’s important to take a step back, learn the HOA rules, and find out if there’s anything about the home you may need to change once you move in to insure that the home is in compliance with HOA rules.
Learn More about Homeowners Associations
To learn more about Homeowners Associations or to view Southern California homes for sale, contact Fred Sed Realty today by calling us at 949-272-0125 or connect with us online.