Are you thinking about packing it all up and moving to a community that has an HOA? Communities that have a Homeowners Association have a ton of advantages including the amenities, freedom from landscaping the lawn every weekend, and being in a secure environment. If you are new to community living, you will want to be aware of some aspects that come with this type of community. Here are some of our tips for your move.
Understand the Rules of Your Community
Living in a community is different than owning your own property or home. It is important to note that there are rules and bylaws that govern each community. You will want to ask specific questions when considering a move to see if you and your lifestyle are a good fit. For example, ask about rules concerning pets, smoking, parking, guests in the amenities areas, noise restrictions, rules on renovations, and the list could go on and on. Carefully read all Governing Documents before you decide on purchasing in a community.
Understand the Insurance Differences
You probably already know that there is a master insurance that covers all exterior aspects of your building and common areas in your community. But what you may not realize is that you must also have individual insurance to protect the items within your own unit. Be sure to talk to your agent so there are no gaps in coverage.
View the HOA Budget
Where a community spends its money can tell you a lot about what is valued. Ask to see the budget, which should be available from any HOA Board members. Look to see how often maintenance is completed on common areas, amenities, the roof, exterior structures, painting, landscaping, and paving the parking areas.
Engage with the Community
Ask about community events, how the pool or gym works, and find out if there is an association email that you can get your name on so that once you move in you will begin feeling like you are a part of the community.
Know Who to Contact
Unlike owning your own home, when there is a problem you will need to know who to contact. Get a list of board members as well as a contact person who can tell you whether you are responsible for calling a repair person or whether the association will deal with it. Usually, if the problem occurs in your unit you are responsible, while outside it is the responsibility of the association. However, there are questionable times like if there is a roof leak, water pipe burst, electrical problem and so on.