So, you have decided to finally purchase a home.
In fact, you started house hunting and found the one.
But before you buy the house, have you checked the HOA rules yet? If you have not, then it is probably time to look at them.
What is HOA? The Homeowners Association or HOA is an entity created to manage shared facilities like the different amenities in the community, condominiums, townhouses and the like.
In addition to common areas, HOA looks after the benefit of the residents too.
They are authorized to collect membership fees, to formulate rules and to implement them.
Developers originally create the association to help maintain a degree of uniformity in the estate.
In order to maintain such uniformity, HOAs lay rules on what residents can and cannot do.
Why are HOA rules important? Just like any institution, a community also needs rules to live harmoniously.
Communities have different rules.
The rules normally depend on the type of people living in there.
This is also affected by the facilities, the preferences of the developers and the lifestyle of the people.
HOA rules have covered more areas over the years.
Some communities are more restrictive than others.
This is why homebuyers should make it a point to check the HOA rules before they purchase a house.
The Importance of checking the HOA rules before purchasing a house.
Checking the rules is important because you have to live by and follow these rules.
This can be uncomfortable if you do not approve of the rules.
This can affect your lifestyle and even affect the things you want to do.
You will encounter several problems if you will not follow the rules.
This affects your relationship with other residents and can cause you penalties and other sanctions, including legal complaints.
What you should check? You need to review the HOA rules carefully.
One of the first things you need to check is the fees.
HOAs will collect membership fees.
Some collect them monthly while others do them annually.
The amount collected is normally used to maintain the different amenities and facilities in the community.
They may also collect fines, so you have to be careful.
Verify the rules for renovations and home additions as well.
Some communities do not allow additions while others have various constraints about it.
This means that you will not have complete freedom over how your home looks.
Different communities also have different security systems and policies.
This should be among the priorities of HOAs.
Check if they have competent security systems.
To prevent burglary, some communities are exclusive and do not allow strangers in.
If this is the case, ask the protocol about having guests over.
HOAs are essential in making sure that the community remains in order.
However, you have to bear in mind that not all rules are the same.
In some buildings, pets are allowed while they are prohibited in others.
This is why you need to check the rules first.
If you want to live comfortably, find out the HOA rules first before you buy a home.