The RE/MAX blog came up with 6 things to consider when working with the HOA. From our experience, we added the last three just for a few more things to remember.

If you are purchasing a home within an HOA there are things you should investigate to make sure the HOA rules and regulations mesh nicely with your lifestyle and needs. Below are 9 things to consider when looking into your HOA:

1. FEES
This is a big one as you should compare the monthly/quarterly/annual rate to similar developments nearby.
2. WHERE IS YOUR MONEY GOING?
Many communities now are integrating all sorts of amenities into their HOAs; gyms, pools, clubhouses, common areas and parks, etc. Not only check what is included, but make note of things that are NOT included so you know.
3. RECENT HIKES IN FEES
It may be a smart idea to see the recent increases in the fees within the past 10 years. This can give you a good idea for what to expect while you are living there. Also, ask for a record of additional fees that have previously been charged to cover “special assessments” (when the HOA lacks the reserves to cover a big improvement).
4. COMMUNITY PRIORITIES
You may completely overlook the board minutes and focus primarily on the financials or bylaws of the HOA, but don’t skip the minutes. Look through them and see which topics appear frequently when the board meets, this could be a great indication as to what is important to them.
5. THE FINE PRINT
Carefully examine all covenants, conditions and restrictions. Don’t wait until after you move in to realize you can’t add a basketball hoop or a pool.
6. PENALTIES
Of course this won’t happen to you if you read the fine print and fully examine all covenants (#5 above), but it is a good idea to be aware of the fines and other penalties you may face when a rule is broken.
7. DO NOT DO IT & ASK FOR FORGIVENESS LATER
Be sure to call your HOA or management company and verify the fence height before you do it, rather than after. Verifying the rules and what you are allowed to do will significantly decrease the strenuous labors you have in mind for upgrading your home.
8. MEET YOUR NEIGHBORS
Then next time you go to visit your soon-to-be home, hang out and meet the neighbors. They are the ones who will know first hand about the HOA. Make sure to ask what they like about them, as well as what they don’t like.
9. BE AWARE OF THE CONTRACT
The contract to close on your home is contingent of the HOA and its documents, so don’t bypass this step as it is a critical component of the home buying/selling process.

Considering these 9 simple things when reviewing the HOA can make a huge difference in your home buying experience. You want to be sure that the HOA you are going to be moving into is compatible with your lifestyle. Every HOA is managed differently and for the most part have different levels of strictness on the properties they are made up of. Be sure to KNOW YOUR HOA inside and out!