Welcome to San Diego Blog | November 2, 2015
How do HOAs work?
When you purchase a home, there’s a good chance you’ll have to pay a homeowners association fee, especially in gated communities, townhouses, condominiums, and other similar planned neighborhoods. The idea is to keep common areas clean and maintained, and there’s usually an HOA board that is responsible for setting the rules and regulations.
Each HOA is different, but most have the same core elements. You’ll typically pay your HOA fees either monthly or annually. So what is typically included in your HOA fees?
First, the fun stuff
Amenities are typically the big perk of living in a community with an HOA. While you lose out on some of the freedom of living without an HOA, you instead get community amenities like a maintained pool, gym, clubhouse, tennis courts, BBQs, and other amenities. The HOA fees pay for cleaning and maintenance, so—in theory—you’ll always have a clean pool whenever you want to use it.
Protecting the community
HOA fees often contribute to insurance for the community amenities, as well as a fund for unexpected repairs to damaged community property—think damage from weather or accidents.
Your HOA fees will go toward maintaining the general safety and upkeep of the community. This means things like elevator maintenance for condominiums and trash/recycling services. Included in the monthly HOA fees, many high-rise HOAs also pay for all resident’s trash, water, and gas.
Be active in the association
There may be a board of directors, but homeowners associations exist for the betterment of the entire community, and every voice matters. HOA meetings—and the amenities they support—provide great opportunities to meet your neighbors and make your community a better place. Join a committee or get on the Board of Directors and you can make a difference.
When you are buying a home that is part of an HOA, you and your agent should carefully review all of the rules and regulations, CC&Rs, etc. to make sure they are agreeable to you and to your lifestyle. I would be happy to help. Laura Ochoa 619-920-2823