What is Home Owners Association and How Does it Work?

In the 60s, there were very few Home Owners Associations (HOA). Today, there are many more due to its increasing popularity. Many 55+ communities, in the US, have Home Owner Associations. If you are considering moving to a 55 + active retirement community, you should be aware of what an HOA is and how it works. Here’s a small run down about HOA.

What is Home Owners Association?

HOA is an organization of property owners that administer rules and upholds them in an active adult community. This means if you live in a 55+ community run by HOA the rules set forth by the organization effect and limit what you can and can’t do to your property. The rules and regulations of HOA are enforced by the HOA-elected or developer-appointed board of directors. For example, if you wished to set up a pool in your home, you need to run it by the HOA, and get their approval, before you can start hiring contractors and buying your bathing suit. This is completely legal and is usually written into the deed or referenced in the deed. It is usually filed with a county or municipal government or with HOA. So, even if you are buying a resale home or brand new home, you need to check this out and find out what you can and cannot do to your property once you have bought your home.

HOA Fees

HOA is good for any senior living community because this organization keeps a tight rein on what goes on in the community. HOA has oversight over the maintenance and repair of the community’s common areas and general appearance. For example, you may consider living in a maintenance-free community. This means certain tasks, such as; snow removal, lawn maintenance, etc. are performed by a group of people hired by the HOA. You are able to live a carefree life and enjoy every minute of your retirement because of this factor. As nothing is free, if your community comes under HOA, you have to pay a monthly fee for all the maintenance and upkeep of your community. The cost varies from one community to another. This can vary too according to the type of home you live in, as well as, the amenities in the community. Most often, 55 and over communities that come under “luxury” or “resort-style “ categories charge more in HOA fees than others. So, as a potential homebuyer, you should always check the amount of the HOA fees before making an offer. Keep in mind though, these fees are not fixed and will, without a doubt, increase over the years.

Although you may not think HOA is a good thing, it is. One of the biggest advantages of living in an active adult community with HOA is the bonds you form with your neighbors. You have so much in common that it is bound to bring you closer. Because of HOA, you also stay involved in what goes on in your community. This way you can be sure you don’t live next to an orange or blue house or next door to people who do not look after their yard.

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