What Is an HOA, and What Should First-Time Buyers Know
- By Jim Blackburn
- on
- 100 first time home buyer FAQs
1. HOAs Help Maintain Standards
An HOA exists to protect the look, feel, and value of the community. They enforce rules around landscaping, home color choices, parking, fence height, and more. It might sound strict, but the goal is to keep the neighborhood clean, safe, and appealing. If you like structure and consistency, this can be a major plus.
When evaluating HOA communities, use our loan calculators to factor HOA fees into your total monthly housing costs alongside your mortgage payment.
2. You’ll Pay Monthly or Annual Fees
HOAs aren’t free. You’ll usually pay monthly, quarterly, or yearly dues that help cover things like lawn care, snow removal, community pools, security, or other amenities. Fees can range from a few hundred to several thousand dollars a year, depending on the neighborhood. Always ask what’s included—and what isn’t—so you can factor it into your monthly budget.
Calculate your complete monthly payment including HOA fees with our FHA Purchase Loan or Conventional Purchase Loan calculator to see the full picture of affordability.
3. Read the Rules Before You Commit
This part’s crucial: not all HOA rules will match your lifestyle. Want to park your RV in the driveway? Install solar panels? Rent out your home as an Airbnb? Some HOAs don’t allow it. Always ask for and read the HOA bylaws and restrictions before you close. This way, you know exactly what you’re agreeing to—and can avoid unwanted surprises down the road.
Work with experienced agents through our realtors and wholesalers network who can help you review HOA documents and understand restrictions before you make an offer.
Want to Evaluate HOA Communities Wisely?
HOAs can be a great fit or a deal-breaker depending on your lifestyle. Here’s how to decide:
💰 Calculate total costs including HOA fees with FHA Purchase Loan or Conventional Purchase Loan calculators
🤝 Work with knowledgeable agents through our realtors network who understand HOA communities
📚 Learn all homebuying considerations at our buy a house page
⚡ Get pre-approved with same-day approval to understand your budget including HOA costs
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