It’s a foreign term for you.
Home Owners Association.
We don’t like them here in Scottsdale, Arizona and soon…..you won’t either.
I jest. They have their pros and cons. They are actually great at making sure your neighbors don’t paint their houses purple and take care of their weeds.
But if you get some HOA members that have a lot of time on their hands, well you know what it’s like dealing with people who have a lot of time on their hands.
HOAs range in price all over the valley and differ from one neighborhood to the next. Older neighborhoods don’t have them. Newer neighborhoods definitely do.
If you want to live in a gated community, you’re going to have to buck up.
Always ask how much they are and exactly what they cover.
Before close of escrow you will be mailed or get access to the rules and regulations of the HOA. ‘
These are called the CC&Rs. Conditions. Covenants. Restrictions.
Make sure you read the rules and check the financial solvency of the HOA to make sure they’ve got a healthy amount of money in reserves.
The last thing you want after you purchase your new place is to get whacked with an assessment and have to shell out hundreds or even thousands of dollars to fix something in the community.