WHAT DOES HOA MEAN?

By
Real Estate Agent

HOA Stands for Home Owners Association.  You really need to check with your association because the coverage can vary significantly. 

HOA fees normally will cover ground maintenance for all green spaces in your development.  If you live in a Condo or townhouse it may cover insurance but you should not assume that it does.  You ultimately would be responsible for the contents of your home either way and it would not hurt to have your own coverage on the property as well.  If it is a Single Family dwelling you will also be responsible for coverage for the home as

HOA Stands for Home Owners Association.  You really need to check with your association because the coverage can vary significantly. 

HOA fees normally will cover ground maintenance for all green spaces in your development.  If you live in a Condo or townhouse it may cover insurance but you should not assume that it does.  You ultimately would be responsible for the contents of your home either way and it would not hurt to have your own coverage on the property as well.  If it is a Single Family dwelling you will also be responsible for coverage for the home as well.

They normally maintain any pools, tennis courts or other entertainment areas.  Depending on where in the country you are and what kind of neighborhood it is they may also maintain your lawns or remove snow.  Generally the more they maintain the higher the HOA's are. 

Before you get into a contract in a community that has HOA fee's check to see what the cost will be so that you can factor that into your monthly payment.  Also inquire about if the fee stays the same or if they can be increased from year to year.  Trust me it will never decrease.  You need to make yourself aware of this before you move forward with an offer or commitment.  Always be sure to know exactly what the HOA fees cover and to have it in writing.  For example in Florida, some HOA fees almost tripled over a three year period due to the hurricanes.

Home Owners Associations can also have rules that you need to be aware of.  Here in Kentucky we have a development that will not allow you to have your garage door open.  Another one will not let you have fences or above ground pools.  You should always be aware of any of these rules and regulations. well.

They normally maintain any pools, tennis courts or other entertainment areas.  Depending on where in the country you are and what kind of neighborhood it is they may also maintain your lawns or remove snow.  Generally the more they maintain the higher the HOA's are. 

Before you get into a contract in a community that has HOA fee's check to see what the cost will be so that you can factor that into your monthly payment.  Also inquire about if the fee stays the same or if they can be increased from year to year.  Trust me it will never decrease.  You need to make yourself aware of this before you move forward with an offer or commitment.  Always be sure to know exactly what the HOA fees cover and to have it in writing.  For example in Florida, some HOA fees almost tripled over a three year period due to the hurricanes.

Home Owners Associations can also have rules that you need to be aware of.  Here in Kentucky we have a development that will not allow you to have your garage door open.  Another one will not let you have fences or above ground pools.  You should always be aware of any of these rules and regulations. 

Posted by

Joanne Tilford

Real Living Home Realty

3424 Frederica Street

Owensboro KY  42301

270-929-8454

Owensboro KY Rea Estate

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the folder to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
ActiveRain Community
Groups:
Real Living Home Realty
Tags:
what does hoa mean

Comments 0 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the eye to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the pencil to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainer
67,353

Joanne Tilford

Touching Lives Building Realtionships
Do you want to know what your house is worth in today's market?
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the printer to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information

" style="overflow:hidden;" seamless scrolling="no" id="custom-widget-content" onload="resizeIframe()">Your browser does not support iframe.