One thing that a lot of people take into consideration when they are buying a home is the quality of the neighborhood where the home is being purchased. In some communities, many times they are gated, there may be a homeowner’s association in place that creates rules and regulations about what can take place in the neighborhood. In order to purchase a home in one of these neighborhoods, you will likely be obligated to agree to the terms and conditions of the homeowner’s association. This means that you will have to pay the fees associated with the homeowner’s association. Many times, these fees will range from about $200 to $400 each month depending on the neighborhood.
When you move into a community with a homeowner’s association, you will have to abide by the rules that the HOA has put in place. Sometimes this means regulations on what colors you can paint your house, that you need to keep your lawn in good condition, among other things. Some people feel as though the rules and restrictions imposed by a homeowner’s association are a burden, so if these rules are not something you want to worry about, buying in this neighborhood may not be for you.
If you have questions about what you can expect when thinking about buying in a community with a homeowner’s association, consult with an experienced real estate professional who can assist you.
If you require experienced legal representation for any of your residential and commercial real estate, bankruptcy, or family law matters, contact the Mark Scollar Law Office today to schedule a consultation.