If you’re an outsider to Home Owners Associations, the thought of joining one when you purchase a home may be enough to send you in the other direction.The truth of the matter is, HOA’s don’t just exist to tell you what you can and can’t do with your home. Here are some things Jamie Wiebe with Realtor.com writes that you should know about HOA’s before aligning yourself against them completely:
Negative stereotypes – There are all kinds of horror stories about HOAs who exist seemingly to make their members lives painful and nightmarish, but the main goal of most HOAs is to protect their investment.
Research – Research and get to know your HOA before buying. Ask to see their Covenants, Conditions & Restrictions, writes Wiebe, to find out what kind of changes are allowed, paint color or foliage restrictions, the level of enforcement (fines, letters of warning, etc), HOA fees and what services they cover.
Reasonable rules – HOA’s don’t exist to invent rules for the sake of rules, but to maintain property values to prevent rogue neighbors from infringing on your ability to sell your home at fair market value.
Attend a meeting – If the meeting is open to non-HOA members who are interested in joining the neighborhood, you’ll know within a meeting or two if it’s your scene – or not.
Dues & bylaws – Don’t skip your dues, and work to understand your bylaws. Not paying your dues can result in a lien on your home. Also, being familiar with the bylaws can help you be familiar with, not just what you can and cannot do, but also how to handle anything you find unfair.
Source: http://www.realtor.com/advice/buy/homeowners-association-secrets/