We shouldn't treat all homeowners associations the same. Some may offer benefits like community pools and sprawling common areas, while others can bring unexpected financial and social nightmares, like imposing huge assessments and mandatory upgrades.
As a realtor of over 20 years and a homeowner who's been on the board of an HOA, I can tell you firsthand that joining an HOA can be a double-edged sword.
You’ve probably heard of homeowners associations abusing their powers by changing rules and forcing fines on members in ways that don't seem transparent or ethical. Unfortunately, this happens more than you’d likely know. With that, it’s important to understand the HOA of any community you’re considering so you don’t end up with big regrets at the end of the day.
Before you join an HOA, know this
A homeowners association is an organization in a residential community that creates and enforces guidelines related to home appearance, noise, parking and renovations, among other things. HOAs usually charge fees or dues to cover services, maintenance and shared facilities.
