What you Need to Know About HOA’s
When you’re contemplating the purchase of a home, condo or a townhome in Anthem, Arizona or the surrounding areas you’ll naturally look at the location, the floor plan, the condition, and what the benefits that are offered you.
There’s many things to consider and one that we advise our clients about is often over looked and something you should Need to Know About HOA’s.
The HOA – Home Owners Association
When you buy a home or condo you are essentially buying into a business of sorts – the homeowner’s association. An HOA is the organization that makes and enforces rules for the properties in its jurisdiction. HOAs also collect monthly, semi-annual or annual dues to pay for upkeep of common areas, elevators, building structures and swimming pools. The HOA is essentially responsible to maintain all the common areas of the complex.
So look at ALL the financials of the association. Make sure the association is solvent. Find out if the association has a habit of increasing membership fees. Learn something about the leadership and how the organization operates. You can always chat with current residents to see if there are complaints over deferred maintenance or rules that are enforced only for some. And speaking of rules – be sure to read them in their entirety. When you “buy in” you’re agreeing to those rules, and some of them may not please you.
When you’re ready to begin your search, get in touch with us. We will be excited to show you the available units here in Anthem, Arizona and the surrounding areas, and to help you gather all the information you need to make an informed decision.