Wednesday, September 4, 2019 / by Angel Murillo
Many homes across the United States are part of an HOA, or homeowners association. So what does that mean?
In a nutshell, an HOA helps ensure that your community looks its best and functions smoothly. If you're buying a condo, townhouse, or free-standing home in a neighborhood with shared common areas and amenities (such as swimming pools, parking garages, and security gates), odds are high these areas are maintained by a homeowners association.
The number of Americans living in homes with HOAs is on the rise, growing from a mere 1% in 1970 to 25% today, according to the Foundation for Community Association Research.
Is buying a home with an HOA right for you? We'll help you decide by laying out the pros, cons, and costs of an HOA.
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The Hebert McMahon Realty Group