fbpx

Buying a Home in an HOA – What to Know

December 5, 2023

If you are considering buying a home in an HOA, make sure you do your homework! What are the pros and cons of buying a home in an HOA?

Homeownership involves various considerations, especially when it comes to purchasing a property governed by a Homeowners’ Association (HOA). Understanding the role, function, and implications of an HOA is crucial as you look at homes to buy.

Understanding the Function and Structure of HOAs

An HOA serves as a governing body within a residential community, managing shared areas, enforcing regulations, and collecting fees from homeowners to maintain communal spaces. HOAs operate based on established guidelines documented in Covenants, Conditions, and Restrictions (CC&Rs). These regulations set standards for property maintenance, use of amenities, architectural guidelines, and more. HOAs also consist of a board of directors or trustees responsible for enforcing rules and managing the association’s affairs.

Rights and Obligations of Homeowners in HOA Communities

Homeowners within an HOA community have rights to participate in decision-making processes, access financial information, and voice concerns during association meetings. Simultaneously, they carry obligations to comply with established rules, pay assessments for communal maintenance, and maintain their property according to HOA standards.

Pros and Cons of Buying a Home in an HOA

Advantages of Buying a Home in an HOA

Purchasing a home within an HOA offers various benefits. One notable advantage is the maintenance of common areas, ensuring a well-kept neighborhood with landscaped spaces, recreational facilities, and sometimes even security services. These amenities enhance the overall quality of life for residents.

HOAs also tend to enforce community guidelines that can contribute to a cohesive neighborhood aesthetic. Additionally, they often provide a platform for community engagement and decision-making through meetings and committees, fostering a sense of belonging among homeowners.

Disadvantages of Buying a Home in an HOA

However, there are drawbacks associated with buying a home in an HOA. One primary concern for homeowners is the additional financial burden in the form of HOA fees or assessments. These fees cover the cost of maintaining shared spaces and amenities but can be an ongoing expense beyond mortgage payments and property taxes.

Living within an HOA means abiding by the rules and regulations set forth by the association. While these rules aim to maintain a certain standard within the community, they can also be restrictive. Homeowners might face limitations on exterior modifications, restrictions on activities or pet ownership, and potential conflicts over adherence to guidelines.

Key Considerations for Potential Homebuyers

Before deciding to buy a home within an HOA, potential buyers must conduct thorough research and consider essential factors. Reviewing the HOA’s Covenants, Conditions, and Restrictions (CC&Rs) is crucial to understand the rules and regulations governing the community.

Understanding the fee structure and assessing the financial health of the HOA is essential. This includes examining the budget, reserves, and any pending or past litigation that might impact the association’s finances. Prospective buyers should also evaluate whether the rules and restrictions align with their lifestyle and preferences. Doing your research and considering your personal preferences are essential to making an informed decision!

Recent Instagram Posts

📍FOR SALE in WEST LINN, OR!

✨ NEW LISTING ✨

$1,099,900

4 bedrooms | 2.5 bathrooms | 2,963 square feet

-Remodeled home in a quiet cul-de-sac with designer details
-Versatile floor plan with formal living/dining and additional great room
-Entertainer’s dream kitchen with high-end appliances
-Inviting backyard with covered patio and pergola, backing to Oppenlander Park

Want to see more pictures and the floor plan? Check out the link in my bio or in stories! DM if you have any questions. 💚
...

12 2

📍FOR SALE in WEST LINN, OR!

✨ NEW LISTING ✨

$899,000

4 bedrooms + office | 2.5 bathrooms | 3,034 square feet

-Open layout, formal rooms, and a two-story great room with fireplace
-Updated main-level primary suite with spa-like amenities
-Chef’s kitchen with Wolf gas range and Subzero fridge
-Landscaped backyard with deck

Want to see more pictures and the floor plan? Check out the link in my bio or in stories! DM if you have any questions. 💚
...

5 1

Millennials...

They’ve faced their fair share of challenges with higher interest rates, home prices, and the struggle to save for a down payment while renting. 💸

The market conditions have not been the friendliest.
It was reported that 67% of millennials regret not buying a home when rates were lower.

A remarkable 78% of you are still open to the idea of buying a home

Even if it means navigating higher-than-average mortgage rates and making some compromises.

Today I’m sharing a few clever ways I’ve seen millennials get started on their home buying journeys, despite the setbacks.

Getting in the game:
Buying a home just to get into the game, living in it for two years, then using the proceeds to level up to a more desirable home. The key here is to start building equity — then keep going!

House hacking:
Buying a duplex or home with a mother-in-law suite and renting it out on airbnb or to a longer term tenant to reduce costs.

Creative financing:
Looking into creative financing options - there are some incredible loan programs that offer reduced or 0% down payments. (I’d be happy to connect you with a stellar lender who can put together a few great options!)

Recasting:
I’ve seen some paying slightly over the asking price to seal the deal then recasting or refinancing their mortgage at a later date to reduce monthly payments. (Of course, it’s critical to not overextend yourself).

If you’re interested in taking the first steps towards owning your own place - DM me or call me! 📲

Your path to homeownership could be closer than you think! 🏡
...

18 2

Ever Googled your home address? Your house might have a more interesting backstory than a Netflix series! 😆

As your friendly neighborhood real estate detective, I’m here to unveil the mysteries lurking in the shadows of any property! 🕵🏻

Curiosity didn’t just kill the cat; it discovered the epic tales behind properties!

Ready to uncover the secrets of a property?
📲 DM me!
Follow: @robbinsrealtygroup
...

19 1

SOLD!! 👏🏻

If I could hang out with these two incredible people every day I would, they are so fabulous! Congratulations on your new home, it’s amazing!
...

30 4

19% of all homebuyers consider their pets’ needs when choosing a neighborhood. Here’s what pet-loving buyers often prioritize during the buying process: 

• Spacious lots and acreage
• Walkability
• Parks and recreation areas

With that in mind, I had a client who had beautiful dalmations. Her house-hunting priorities included finding a home where the dogs could run and play. I loved helping them find a house that checked all the boxes including acreage her dogs could enjoy! 💚

There’s no denying it—our furry friends bring warmth and love into our homes. If you’re planning to buy a home that caters to you and your pet’s needs, let’s connect and find that puuurfect space for you both! 😉

FOLLOW HERE: @robbinsrealtygroup

Source: A Stunning Stat: There Are More American Households With Pets Than Children.
...

39 8

Get ready to embrace cozy vibes and transform your space with Pantone’s 2024 Color of the Year – Peach Fuzz! 🍑

This warm and velvety hue is like a hug for your walls, creating a flattering glow that’s perfect for those windowless bathrooms or dim bedrooms. Not sure where to add this color to your own home? Here are a few ideas:

1️⃣ Accent Wall: Consider painting one wall in a room with Peach Fuzz to create a focal point. This works well in spaces like bedrooms, living rooms, or even a home office.

2️⃣ Soft Furnishings: Introduce the color through soft furnishings like cushions, throws, or curtains. These items can be easily swapped out if you want to change the color scheme later.

3️⃣ Statement Furniture: Invest in a piece of furniture in the Peach Fuzz shade, such as a cozy armchair or a side table. This can add a pop of color without overwhelming the entire room.

4️⃣ Moroccan Tiles: As mentioned in the article, incorporating Peach Fuzz through Moroccan tiles can add a touch of elegance to your kitchen or bathroom. Consider using it as a backsplash or for a decorative element.

5️⃣ Plush Rug or Quilted Blanket: Enhance the coziness of a space by choosing a plush rug or quilted blanket in Peach Fuzz. This is an excellent way to bring warmth to a room.

6️⃣ Artwork: If you prefer subtlety, consider incorporating Peach Fuzz through artwork or framed prints. This allows you to experiment with the color without committing to a large surface area.

7️⃣ Decorative Accents: Scatter Peach Fuzz-colored vases, candles, or decorative objects around the room for a cohesive look.

Remember to consider the existing color scheme and lighting in the room before introducing a new color. Peach Fuzz’s warm and gentle nature makes it versatile and suitable for various design styles. Give it a try in a room where you want to create a cozy and inviting atmosphere! Would you add sprinkles of this color to your home? ⬇
...

8 1

✨ NEW LISTING ✨

$839,900 in BEAVERTON, OREGON.

5 bedrooms | 2.5 bathrooms | 2,749 square feet

-Private location and tucked away
-Flexible floor plan including a spacious great room.
-Outdoor appeal with rear deck and patio for entertaining

Want to see more pictures and the floor plan? Check out the link in my bio or in stories!
Follow me here 📲 @robbinsrealtygroup
...

12 5

I love treating and surprising my team with fun new marketing goodies! 💚

Let me know if you want a cute green bird sticker! 😉
...

21 6

Spending quality time with my sweet little granddaughter, Lucy! Being with her is always a joy! 🫶🏻 💕 ...

71 14

FOLLOW US

Stay up to date on news and listings that are coming soon!