What is an HOA?


HOA stands for homeowner association. It's a corporation formed by a real estate developer for the purpose of marketing, managing, an selling homes and lots in a residential subdivision. Generally, apartment buildings, condos, and planned unit developments of single-family homes.

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Pro's to a HOA:

Benefits to homeowners may include:

  • maintenance and management services
  • provision of recreational amenities such as pools and parks
  • insurance coverage
  • enforcement of community appearance standards which may lead to higher property values
  • the opportunity for members to plan development in accordance with community values


Con's to a HOA:

Disadvantages to homeowners may include:

  • the financial burden of association fees, punitive fines, and costs of maintaining appearance standards
  • restrictions on property use and personal autonomy
  • the potential for mismanagement by the board, including the possibility of arbitrary or heavy-handed enforcement of rules



Overall, its up to you to choose whether or not to purchase in a HOA community. As with other decisions in buying a home, just be sure that you are properly informed to make the decision.