If you’ve ever watched a home improvement or real estate show on TV, you’ve probably heard of the term “Homeowners Association”, or “HOA”, for short. Depending on the show, they may speak well of HOA’s, or they may not. Either way, this is understandable, since an HOA can sometimes go either way. While the mission of most HOA organizations typically involves the improvement or maintenance of a neighborhood, the advantages of this arrangement can depend on a large number of variables.
Additionally, they often have a significant measure of control over the neighborhood, potentially even the ability to force a home into foreclosure. For these and many other reasons, be sure to do your homework about a neighborhood before purchasing a property. If an HOA is in place, it would likely be a good idea to see if that’s a good thing or a bad thing for your personal circumstances before making any commitments.
Recent Comments