If you’re buying your first home, you’re probably learning a whole new vocabulary: mortgage rates, closing costs, escrow, and one term that often raises questions, HOA. Short for Homeowners Association, an HOA can play a big role in your homebuying decision. Understanding how it works now can help you feel confident and prepared before you close.
What Does HOA Stand For?
An HOA (Homeowners Association) is an organization that manages and maintains a residential community. When you purchase a home in an HOA-governed neighborhood, membership is automatic. Along with that membership comes Homeowners Association fees and a set of community rules designed to keep the neighborhood running smoothly. Homeowners Associations are common in new construction communities, townhomes, condominiums, and even some single-family neighborhoods.
What Does an HOA Do?
The main purpose of a Homeowners Association is to maintain shared spaces and uphold community standards. While responsibilities vary by neighborhood, most HOAs manage things like:
- Maintenance of common areas such as landscaping, sidewalks, and entrances
- Community amenities like pools, playgrounds, clubhouses, or fitness centers
- Shared services, including trash pickup or security features
For many first-time buyers, an HOA can simplify homeownership by handling tasks you might not want to manage on your own.
What Are HOA Fees?
Homeowners Association fees are typically paid monthly, quarterly, or annually. The amount depends on the community and what’s included. Some HOAs only cover basic landscaping, while others include exterior maintenance, lawn care, or even roof repairs.
Because HOA fees are a required expense, lenders include them when calculating your monthly housing costs. It’s important to factor them into your budget along with your mortgage, taxes, and insurance. If you’re curious how it all adds up, check out our blog on how much money you need to buy a home.
Understanding HOA Rules and Regulations
Every Homeowners Association has a set of rules, often called CC&Rs (Covenants, Conditions, and Restrictions), that homeowners agree to follow. These rules help maintain a consistent look and feel throughout the community.
Common rules may cover:
- Exterior paint colors or materials
- Lawn care and landscaping standards
- Fence or patio installations
- Pet restrictions
Before buying, review the HOA documents carefully to make sure the guidelines align with your lifestyle. Here’s a helpful list of common HOA rules to give you an idea of what to expect.
Buying a home is exciting, and there’s a lot to consider. If you’re ready to explore quick move-in homes and experience the lifestyle these communities offer, contact us or visit one of our new home communities throughout the Greater Tampa Bay, Ocala, and Orlando areas. Our team is here to help every step of the way.
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