Have you ever heard of an HOA? If you’re new to the world of home ownership, you may have only heard of this term in real estate reality shows on TV. HOA stands for Homeowners’ Association, and this type of organization can have a significant impact on your experience as a homeowner – for better, or worse.
The reason for that is that these organizations have a significant amount of control over what happens in the neighborhood under their jurisdiction. A good HOA can be a big help in driving improvements in a neighborhood. Before you make any commitments to a property purchase, it may be a good idea to spend some time investigating the HOA in that neighborhood. See if you can tell how the neighbors feel about the HOA, and, if possible, determine whether or not the HOA’s bylaws are going to be in harmony with your preferences as a homeowner.