Before Buying Into a Homeowners Association

The Community Association Institute suggests:

  1. Getting copies of the governing documents from the association manager.
  2. If you don’t understand the rules, asking your real estate agent or lawyer for help.
  3. Taking time to talk to people who live there about the association.
  4. Knowing how much the assessments are.
  5. If you are on a tight budget, finding out how easy it is for the board to increase the assessment amount.
  6. Does the community have a cash reserve for new projects?
  7. Are there restrictions on renting?
  8. Do you feel comfortable with the architectural guidelines?
  9. What are the rules on pets, flags, satellite dishes, fences, patios and home businesses?
  10. Considering whether the rules fit your lifestyle and sense of community.

How do you think the Heatherlea Association might look to potential buyers? What makes our community marketable and what needs to be improved?


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