Pros and Cons of HOA’s
When you search homes
in Silver Spring, MD, you’ll want to take note of properties that are part
of a homeowners association (HOA). An
HOA collects dues from owners on a monthly, quarterly, or yearly basis. These dues are put towards a variety of
different amenities, depending on the specific association. Some HOA’s will cover trash and recycling
collection, maintenance of common areas, snow removal in the winter, paving and
repairing main roads, pool membership, etc.
HOA’s also require homeowners to abide by a list regulations
– more often referred to as bylaws –
in order to maintain continuity and aesthetics throughout the community. If you drive through a subdivision where
every home has the same mailbox and fence, then that community is very likely
part of an HOA.
HOA dues are in
addition to your mortgage payment, which can make a big impact if collected
monthly. Your mortgage lender will need
to know if you decide to purchase a home that belongs to an association to
ensure that you are not overextending yourself.
Homeowners associations generally have meetings for the
entire board and membership. Board members are elected by the homeowners,
and are appointed to perform specific functions for the HOA.
When you’re ready to begin your homes search
in Silver Spring, MD, contact Emcee Arah
and the EMA Real Estate Group. Arah
and his team are dedicated to providing a quality experience through a
stress-free, step-by-step system of real estate services that have been
specifically designed to ensure a smooth relocation process for his
clients. To begin this exciting process,
call Emcee directly at 301.452.5252 or visit www.LowPaymentHome.com.