Nevada County is a beautiful place to live. There are so many different housing communities, you have your pick of where you want to live. One thing some of the communities up here have is an HOA. It’s important to learn more about the neighborhood HOA, such as annual dues, community amenities, and restrictions when looking to buy a new home. The goal of the HOA is to help maintain home values and the overall aesthetics of a neighborhood. When looking for a house, many buyers tend to take into account costs associated with owning a home such as insurance, utilities, and taxes. One thing buyers may not think to consider is whether the house is in a neighborhood with an HOA, what the dues are, and how the association is run.
What is an HOA?
There are different definitions out there for a Homeowners’ Association and many operate differently from one another. A Homeowners’ Association, or HOA, is an association that works to maintain and oversee the common areas of a neighborhood or property complex. It’s fairly common to find them in neighborhoods that offer amenities such as a community pool, gated access, a playground, tennis courts, etc. The HOA is typically a volunteer-based board made up of homeowners living in the neighborhood. Many HOAs have committees that coordinate neighborhood events, review proposed changes homeowners wish to make to their property, enforce the covenants, and more.
Get to Know the Rules
The covenants, conditions, and restrictions are different for every HOA. Some rules commonly seen in HOAs are in regard to the overall appearance and aesthetics of the neighborhood, such as the appearances of houses and lawn maintenance. Some also have restrictions regarding street parking or where residents can park their boats and RVs. Others may deal more with coordinating neighborhood crime watches and events.
When considering a house, it’s a good idea to ask for a copy of the HOA covenants, conditions, and restrictions to get a better idea of what is allowed and not allowed in the neighborhood. It’s becoming more common for HOAs to have a website or social media page, which is a great place to learn more about the community. For example, some mandate there can be no fences around the perimeter of a property. If a homeowner wants to paint the house a new color, change the landscaping, or add on to the property, the owner has to submit the proposed changes to the HOA for review and approval. The committee will review the proposed changes to ensure they fall in line with the covenants of the neighborhood. While these may seem rather burdensome or trivial, the HOA was designed to help maintain home values and the overall aesthetics of a neighborhood.
How are HOAs Funded?
Many HOAs require annual dues. Those dues will vary based upon the size of the neighborhood and amenities. Dues are used for a number of things including maintenance of common spaces such as neighborhood entrances, playgrounds, pools, etc. In gated neighborhoods, many of the items that would normally be maintained by the city or parish must be maintained by the HOA. These items may include roads, sidewalks, and street lighting to name a few. Some HOAs will hire a property management company to oversee the collection of dues and coordinate maintenance issues. It’s important to pay the dues on time. Depending on the bylaws, late fees and interest could be tacked on to the bill and the HOA could place a lien on the property if the dues are not paid. The HOA could also foreclose on the property for nonpayment of dues.
After the Closing
Contacting the HOA should be a priority on the Post Move-in List as it is important to provide contact information to the HOA. It’s also a great time to get more information regarding upcoming neighborhood events or other ways to get involved. The HOA cannot operate without residents who are willing to give of their time. It’s important to remember that the volunteers who serve on the HOA are your neighbors and friends. Like you, they want what’s best for the community. Every homeowner benefits from a well-cared for neighborhood.
Looking to buy or sell in the Nevada County area? Give a Coldwell Banker agent a call today!
