8 Questions First Time Home Buyer Should Ask About Home Owners Association (HOA)
Design by Diana Walton- Houston First Time Home Buyer Specialist
Hello and welcome to Houston First Time Home Buyers Edition, formally First Home Houston (FHH), where we provide useful information to help Houston first time home buyers make the most informed decision when it comes to buying, decorating, and maintaining their first home.
You know that we love having you visit us daily. As a first time home buyer, we also know you may have a lot going on right now. As you make your way through the home buying process with the help of an agent that is looking out for your best interest. Make sure you are not just signing papers. Make sure you understand what you are signing. Ask questions. A lot of questions. If your new home will have a community homeowner association (HOA) here are a few question you may want to ask.
What is the cost?
When is the payment due?
What are the rules?
Which amenities are included?
How do I contact the HOA?
What happen if the payment is not made on time?
Can they foreclose on the house?
How are disputes resolved?
While the purpose of the homeowners association is to help protect property value and maintain a pleasant living environment, rules are imposed on residents to accomplish those goals. Knowing the who, what, why, where, and when of your HOA will help you navigate any issues that may pop up once you purchase your home and move in.
As for the cost, knowing and keeping it in mind along with the due date, will help you keep the funds ready when the bill comes due, monthly, quarterly or annually. As a first time home buyer, we want you to make the very best decision your first time around.
As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please contact us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana
