What is an HOA?
An HOA is the governing body of a subdivision, planned community, or condominium complex. It’s run by a board of volunteers who usually live there. When you buy in the community you are automatically a member. Generally you have a set of rules to follow and pay monthly dues. The HOA’s function is to enforce those rules, which are called Covenants, Conditions, and Restrictions, or CC&Rs.
The HOA is there to protect your property value.
The goals of an HOA’s rules are to increase property values and allow all members to enjoy the amenities like pools, clubhouses, gyms, theater, walking trails. The best HOAs make sure the neighborhood is clean, attractive, and safe. Weigh the benefits with the cost of the association dues and that will help you to determine if the association is right for you. Also look carefully as to whether the budget is fully funded to keep the property in good condition for the time you will be there.