Are you planning on buying a home in a Homeowners Association (HOA)?
HOA homes are a good investment because thanks to the standards of the HOA, they’ve been well maintained but there are several things to be aware of before buying a home that’s part of an HOA.
In this article we will educate you on HOA’s and provide you with 3 things you should know about buying a home in an HOA in Modesto.
About Modesto Homeowners Associations
Homeowners Associations can be a blessing in disguise because they also help to preserve your investment by making sure that quality and integrity of your investment are protected since HOA rules keep other homeowners from making poor choices or decisions with their properties which will ultimately cause property values in the community to go up or down.
HOA fees can run anywhere between $50 and $400 per month (depending on HOA community) but the fees do come with several benefits like: community amenities, maintenance of landscaping and common areas, of fitness areas, sidewalks, parking garages and so much more.
Three Things to Know about Modesto HOA’s
- Confirm what you get with the HOA in Modesto – Take the time to read the fine print and confirm what you’re actually getting with an HOA before buying a property in an HOA community since every HOA has different amenities and things that they offer owners.
- Find out what the restrictions are – This is especially important if you plan on making any improvements to a property since you may not be able to make those improvements if your HOA won’t let you.
- Review the HOA budget or you might regret it – Last of all, but most important, take the time to review the HOA operating budget and confirm that the HOA is putting at least five percent every month into its gross operating budget or you may find yourself facing increased HOA fees to cover certain projects over the course of one year.
Learn More about an HOA in Modesto
To learn more about an HOA in Modesto, or to speak with us about our property management services, contact Real Property Management by calling us at (209) 572-2222 or CLICK HERE to connect with us online.