A Few Things to Consider Before Buying within a HOA
With more than half of the Lake of the Ozarks real estate listings being part of a homeowner’s association or condo owner’s association, the Fran Campbell Team feels that it’s important for our buyers to have a good understanding of what a HOA/COA is. A Homeowner’s Association, or HOA, is the governing body of the development or complex, usually comprised of homeowners who have volunteered to serve on the HOA board. The primary purpose of a homeowners association is to manage a neighborhood's common areas such as roads, parks and pools. Most HOAs have their own set of bylaws and regulations that all homeowners and their guests are required to abide by within the subdivision. Here are some things you should consider before buying a home or condo within a HOA: What Additional Association Expenses will there be? The majority of HOA/COAs have association fee structures. This will vary for each community. Knowing the fees you'll be required to pay will have an impact ...
