Home Owner Associations and Dues or Assessments...

Now that is a topic that brings a host of different emotions to whomever you ask. Some people have never lived in a housing community that has a Home Owner Associations and have heard horror stories.

I hear the horror stories and I have heard many more great stories of how strong associations have saved views and property values by following the by-laws.

What's up with HOAs?

• If you own pet, you might want to look at pet restrictions.
• Look at the parking restrictions and if you have assigned spaces or is it first come, first served. Is there guest parking?
• Water restrictions, can you wash your car?
• Are there any ceilings on how high the monthly fees or special assessments can go?
• Find out if there are any ongoing maintenance problems such as siding or roofing issues. How does the association handle any improvements.
• How much does the association maintain?
• What is the policy on rentals?
• What is the owner/renter ratio?
• Look at the minutes from the last couple of months and ascertain the politics.
• Make sure you look carefully at all the rules and verify the fees.
• Are there any architectural rules?
• Can you install a satellite dish?
• Who takes care of the lawn and common areas?
• What is included in your monthly dues or assessments?

These are but a few of the questions you should ask before you buy into a home or Condo with a homeowner association or committee.

You will be sorry if you fail to ask any of these questions. I feel it's like moving to a foreign country not knowing the language, customs or currency before you get there...

Authored by Paul S. Henderson, Realtor ®, RE/MAX Professionals, Lacey, WA.

(http://phenderson.net) or http://www.lacey-washington.com

©2008 Paul S. Henderson, All Rights Reserved