Thinking of purchasing a home? Before you do, consider if the home is in community with a homeowners association (HOA). HOAs have their own rules and regulations you may need to be aware of. Here is a basic guide to HOAs and some of their pros and cons.
An HOA is made to govern certain neighborhoods to benefit the community. The organization is typically made up of community members. If your home is in an HOA, you’ll need to abide by the regulations set in place by your HOA. This often includes paying monthly or quarterly fees.
Homeowners associations ask for property owners within the neighborhood to pay fees. Funding is put towards community gardening. It may also be put towards neighborhood trash removal. If your community has a pool or resident center, fees may also go towards the upkeep of these facilities.
Paying extra fees may seem troublesome. Here are some pros and cons to help you decide if having an HOA is worth it:
Pros
Cons
Before you become a property owner, it’s always good to do research on the neighborhood you’re interested in. Speak with your real estate agent to learn more about the community.
Marianna Vis of Four Seasons Sotheby’s International Realty’s Bedford office has begun 2022 by leaving a blazing and record-breaking trail behind her in 2021.
To mark the first achievement of her record-breaking year, she facilitated over 50 Million dollars in New Hampshire home sales. Marianna is also the number one selling agent in the town of Bedford, NH again in 2021, including out-selling Realtor® teams that combine sales statistics…and has been the top Agent for neighboring New Boston for over 10 years. Setting both a personal and local real estate benchmark achievement, she listed the two highest-ever selling properties in Bedford, NH. 442 Joppa Hill Road and 56 Perry Road were both marketed, staged and listed by the record-setting Realtor® in 2021, and each sold for an impressive $3,750,000.