Owning a home is a pretty big deal. It comes with many different responsibilities and obligations. Depending on your point of view, this can be a good thing or a bad thing. One example of the responsibilities and obligations of home ownership is being under the jurisdiction of a Homeowners’ Association, or HOA.
In some cases, this can be a very beneficial arrangement for a homeowner, who may benefit from neighborhood improvements, safety and security efforts, or general upkeep arrangements. In other cases, a homeowner may feel that the standards and bylaws of their HOA are restrictive and arbitrary. For these reasons, it’s a good idea to check out an HOA before committing to a property purchase. Check with the neighbors to see how they feel about the HOA, ask for a copy of their bylaws, and check the rate of foreclosures in the neighborhood. These are a few ways to check out an HOA.