Home Owners Association | Sandy Erickson Team Blog

Thursday, September 21, 2023   /   by Brittany Aspenson


You've only just started your house-hunting journey and learned that a house you’re interested in is located in a neighborhood with an HOA. You might have heard them before, but you might still be wondering, what is an HOA? More precisely, what does it do and how does it affect your home-buying decisions?
If you haven’t had dealings with an HOA before, we’ll walk you through exactly what it means, what it does, and what are the most crucial things you need to know before living in a community that has one.

Tuesday, January 4, 2022   /   by Client Care Coordinator

Top 10 Things to Ask a Home Owners Assocation

Before you buy, contact the association with the following questions.
In the process, you’ll learn how responsive, and organized, its members are.

What percentage of units is owner-occupied? What percentage is tenant-occupied? Generally, the higher the percentage of owner-occupied units, the more marketable the units will be at resale.

What covenants, bylaws, and restrictions govern the property? What grandfather clauses are in place? Are rentals allowed? You may find, for instance, that those who buy a property after a certain date cannot rent out their units, but buyers who bought earlier can.  Ask for a copy of the bylaws to determine if you can live within them. Have an attorney review property docs, including the master deed, for you.

How much does the association keep in reserve? Request further information on how that money being invested?

Are association assessments keeping pace with the annual rate of inflation? Smart boards raise assessments a cert ...

  buyer's, home buyer tips, buyer questions, abc's of real estate, buying a condo, buying a townhome, home owners association

Sandy Erickson Real Estate Team
Brokered by Realty Group LLC
4411 Lake Avenue S
White Bear Lake, MN 55110

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