Get to Know the HomeOwners Association (HOA) Before You Buy

If you're thinking of moving into a community with a homeowners association (HOA), you need to learn its cost and what your payments will fund. Every HOA is unique and has its own rules and regulations. You will want to become familiar with them before you purchase your home.
By understanding the covenants, conditions, and restrictions of your HOA, you will know what to expect in regards to fees, meetings and policies. This will let you know where your dues are going and how to deal with a neighbor who is breaking the rules.
Don't Buy Until You Are Sure
Although some of the questions you may need to ask will vary according to your personal circumstances, there are many things everyone will want to know before moving into a new community. You will want to understand what, if any, regulations exist in regards to excessive noise or parking discrepancies. This will help you to avoid breaking the rules as well as inform you of who to notify in the event of a problem with a neighbor. You may also want information on board meetings or elections to help you stay involved with your HOA. Ask for a calendar of events as well as a fee schedule that itemizes what your dues cover.
Other common issues to address would be guidelines for outdoor landscaping and holiday decorations. For example, your HOA may only allow holiday lights to be up between November 15 and January 15 to prevent eyesores throughout the warmer months. Others may have stricter guidelines that regulate even the color of your house or texture of your driveway. Don't wait until you close on your home find out about these rules.
Does the HOA Match Your Lifestyle?
Depending on the area, there may be a specific lifestyle focus within the neighborhood. Many developments brand themselves as "family-friendly," so if you're seeking a retirement home with quiet streets with nary a tricycle in sight, be sure to ask your potential HOA first. Similarly, some communities focus on golf or equestrian lifestyles, which is great if this is what you are looking for. However, you may feel out of place if your interests are not the same as the rest of the community.
Ask the HOA About Other Possible Restrictions
Once you have covered the basics, think about any questions that involve your family's unique situation. Are there rules about pets? Find out about any breed, size or other limitations before you buy. There may very well be rules about leashing your dogs on walks, keeping aggressive animals and, of course, disposing of pet waste. If you have children, ask if there are curfews or other restrictions in effect on the community level. If the answers to your questions match your lifestyle, this home will be a good buy for you.