Understanding the Nuances of Single-Family Home HOAs - A Complete Guide

Before buying single-family homes under an HOA governed community, acquainting yourself with the legal rules is vital. Why? Under HOA the fines and consequences of non-compliance can even bar you from ever owning another property again. Wait, we’re getting ahead of ourselves. Let us first understand what HOA is, the issue that we’re dealing with, and how you can overcome it. 

What even is HOA?

HOA is the acronym for Homeowner’s association. It is also interchangeably referred to as HOD or Home Owners Dues. HOAs are part of townhomes, planned housing developments, planned housing developments, single-family homes, and condos. Under it, you’re usually charged on a monthly basis. 

But most people confuse the term with an attached housing structure like townhomes or condominiums. Legally termed as Common Interest Developments, they’re quite different than you think. 

It was around the 1980s that the developers started building communities of single-family homes which was then termed as Common Interest Developments. They used to have their own HOA fees and a set of rules and regulations. 

The purpose of such development was to maintain order and enhance aesthetics. But beyond just expecting people to follow them, we personally are liable to follow the rules and pay the HOA fees. 

Is HOA problematic?

It’s not the HOA rules themselves that are problematic - but it becomes challenging when one fails to comply or doesn’t read them thoroughly. In ignorance of the rules, homeowners often make mistakes which call for major legal issues for them as well as other members. 

Gentle Reminder: You’re bound by the HOA rules as soon as you make a property purchase, whether you’re aware of it or not.

Before buying a house, be sure to read the HOA thoroughly and if you aren’t comfortable with it, then you can forgo it. HOA is a democracy with elected members residing in the community itself. If you’re already living and want changes in the rules, then you must try getting elected. Once you become a member of the board, you’ll also get a say on what happens in the society along with new rules and fees structure.

I am a renter. Should I bear the HOA dues?

As a renter, you’re supposed to pay the dues mentioned in your lease. You won’t be liable to any extra charges that the owners spring upon you at the last minute. 

Buy an HOA single-family home now!

Besides the rules, HOA is an excellent way of integrating into a united community with proper maintenance. To buy the best property with rational HOAs contact Micheal Silbak now! They're real estate agents with years of experience and expertise. 

Book an appointment now!