What are homeowners associations?

During the process of buying a home you may find one or more homes that come with the term HOA, this is short for Homeowners Association, but what exactly is an HOA?

In this blog post, I will explain HOA’s and provide you with an understanding of how they work so you better understand Homeowners Associations and how they affect the home buying process.

HOA’s Explained

A homeowner's association (HOA) is an organization in a subdivision, planned community or condominium that makes and enforces rules for the properties within its jurisdiction. The purchase of the property automatically makes the homeowner a member of the HOA and dues are required. Some associations can be very restrictive about what members can do with their properties.

BREAKING DOWN 'Homeowner's Association - HOA'

Homeowner's associations (HOA) are formed by planned communities with single-family homes or multiple unit or condominiums. An HOA is typically established to make and enforce rules regarding the properties within the jurisdiction. Most HOA are incorporated and are subject to state laws. The association has a board of directors that are elected to enforce and oversee the HOA governing documents. Membership in an HOA is usually a requirement for the purchase of certain properties.

Source – Investopedia

Should You Buy a Home That’s Part of an HOA?

So, you’ve found a great home in the Houston Texas Real Estate market that’s also part of an HOA. The big question is should you purchase it? The answer to this question depends on your priorities as a homeowner.

Homeowners Associations do come with restrictions regarding what you can and can’t do at your home and if you violate HOA rules you could be subject to fines, assessments or both so it’s important to keep that in mind if you want to own a home that’s not subject to HOA rules.

If you want to own a home that’s part of a community which includes swimming pools, tennis courts, parks, and other amenities than owning a home which is part of and Homeowners Association may be a smart move for you because HOA’s also maintain common areas and amenities that are part of communities.

Learn More About Homeowners Associations

To learn more about homeowner’s associations, or to view homes for sale in the Houston Texas area contact me, Kim Buish, Realtor® with Red Door Realty & Associates by calling me at (713) 819-1642 or click here to connect with me online.