OfflineWhen ever you are purchasing a property that includes HOA fees - fees paid to a homeowners association is a nonprofit association that manages the common areas of a condominium or "planned unit development" (PUD). Unit owners pay a fee to the association in order to maintain areas such as a pool or playground that are owned jointly.
Read the fine print! It is very important to be aware of all the details included in the HOA. These will be costs that will need to be included in your holding formula.
Along with HOA, you need to be aware of any CC&R's that your property might need to follow. These are
the covenants, conditions and restrictions that you must follow. Over my years of buying properties I have had CC&R's that dictate EXACTLY how many bushes, trees, flower you must plant on your property. Be aware and follow all the rules.
Thanks for the tip and the information on HOA. I know sometimes its the things you do not know about today that may cost you in the future. Thus, its always best to try to know and find out all the facts before moving forward. Thank you for the information and the insight. Believe and Achieve!
- Joe
Thanks for the info on HOA and PUD