What to Know About HOA Agreements & Fees in New Communities

Buying a home in a new community often means becoming part of a Homeowners Association (HOA). While HOAs can help maintain neighborhood standards and amenities, it’s important to understand what you’re signing up for—especially when it comes to agreements and fees.

What Is an HOA?

• An HOA is an organization that manages and regulates a community, ensuring shared spaces and amenities are maintained.
• Membership is usually mandatory for homeowners in the community.

HOA Agreements: What to Look For

• Review the Covenants, Conditions & Restrictions (CC&Rs) carefully—they outline rules on everything from landscaping to home color choices and parking.
• Understand the process for requesting changes or improvements to your property.
• Check for any restrictions that might affect your lifestyle, such as pet limits or rental policies.

Understanding HOA Fees

• HOA fees cover maintenance of common areas, amenities like pools or parks, and sometimes even utilities or trash collection.
• Ask how often fees are reviewed and if there’s a history of increases—this can impact your long-term budget.
• Find out if there are special assessments for major repairs or improvements.

The Benefits and Trade-Offs

• HOAs help protect property values and create a cohesive community feel.
• However, they also mean following set rules and paying regular fees, so make sure the benefits align with your needs and expectations.

Before purchasing in a new community, take time to review the HOA documents and fee structure. Being informed helps you avoid surprises and ensures your new home truly fits your lifestyle.