A homeowners association or HOA is an organization in a subdivision, community, or condominium that enforces rules for the property within its jurisdiction. If you are to purchase a property you automatically become a member of your HOA and dues will be required. Some HOA’s can be very restrictive with what homeowners can do with their property. Homeowners association’s have a great amount of control over properties. They require you to pay dues, and if you don’t then they can place a lien on your property or penalties can be imposed for breaking the rules.
Although HOA’s have a great control over your property there are some great benefits to being apart of one. The members aim for a high standard of appearance for the property. The HOA also provides a good amount of rules and regulations for the community. There are various amenities that come along with being apart of a great organization like this. It is very beneficial because of the numerous amenities and stable community that comes along with it.
Everyone knows that even though there is a lot of advantages of HOA’s, there are always some disadvantages. Some disadvantages of being apart of a HOA are the high cost of all the association fees. Also HOA’s have been deemed too restrictive for some homeowners because of the harsh expectations and regulations.
For all of your real estate needs, please contact the Hornburg Real Estate Group at Keller Williams Realty at DallasFtWorthHomeSearch.net or (817) 264-7087.