Buying a home in an area with HOA (Homeowners Association) fees can be tricky, especially since many people aren’t familiar with the process. However, it definitely has its pros and cons. Although it might not seem so at first, HOAs in Florida are there to help you as a homeowner. People usually only see the burden of following the rules instead of focusing on the benefits they get from a Homeowners Association. In reality, it helps maintain the stability of communities by preventing people from behaving disruptively. Before you make the decision to purchase a property within a Homeowners Association, here is everything you need to know!
HOAs in Florida: What Exactly Are They?
Of course, before you make any decisions, it’s essential to understand what HOAs are. It essentially entails that residents within a certain condo complex, neighborhood, or gated community are required to abide by the same rules and have the same regulations. If you live within one of these associations, you are expected to follow all these regulations with no exceptions. Primarily, they regard how the common spaces should be treated by the people living there, and how each resident needs to maintain their own personal properties.
You will see many of the typical HOA requirements within communities in Florida. For example, residents are obligated to pay monthly fees, which are used to cover any expenses in the common area, and can even sometimes cover your home’s exterior maintenance! Many HOA communities cover their residents’ garbage pickup, lawn mowing, and more. But as we mentioned above, these perks also come with a list of rules the residents must comply with. If they aren’t respected, certain consequences go into action. They can either put a hold on your property or charge you extra fees, depending on the severity of the mistake. A typical rule is that the more you get out of the association, the larger your fine will be if you commit an offense.
Do All Residents Have the Same Obligations?
No matter how long you’ve been a community member, all the fees, rules, and regulations are the same for all members. Before moving into one of Florida’s HOAs, make sure that you are okay with following all the rules and able to pay the HOA fees. Additionally, some associations are stricter than others, so you should look into every single detail you can find before signing any agreements. Here are some example rules that HOAs can set up:
- They can decide if you’re allowed to rent out your home or not.
- The HOA determines the cost of your monthly fees and what is covered within those fees.
- When it comes to the exterior of your home, they can make rules about essentially anything, down to the design and the colors you can use.
The Advantages and Disadvantages of HOAs
Advantages of HOAs
- They help to avoid inter-community conflict. There’s nothing worse than living very close to a neighbor whom you disagree with. This can very easily lead to arguments. If you live in an HOA in Florida, the chances of getting into a heated argument with your neighbors are far less. As we mentioned, everyone is required to follow the same standards, so the opportunity for conflict is reduced.
- Important HOA information will always be available to you. Before signing any offers, you’ll want to make sure you have all the information you can get about the association you’re interested in. Luckily, this information is public, so you can be equipped with all the knowledge you need before making a decision. Additionally, once you move in, HOAs are typically very transparent and communicative when rules or regulations are updated.
- There are ample opportunities to make new friends within the community! If you live in a close-knit community, it’s almost inevitable that you’ll make some new friends in the area. You’ll see each other around the neighborhood often, especially in common areas. Some associations even have community recreation centers where they host fun events for the residents.
- You won’t have as many chores. Seeing how you’ll be paying for certain services like throwing out the trash, mowing the lawn, or cleaning the common areas, you will have all that extra time on your hands to do whatever it is that you love!
Disadvantages of HOAs
- Many HOAs have strict criteria to become a member. If you’re looking to live in an HOA community, there are specific criteria you’ll need to fulfill. Some communities are stricter than others, and it’s best to be prepared for what the HOA will require of you to join. That’s why it’s crucial to research the community you’re interested in as much as you can.
- There are also strict criteria once you move in. Along with the association rules and regulations you’re required to abide by, you will also likely need permission if you wish to renovate or make any changes to the property.
- You could possibly feel the effects of other’s mistakes. If your fellow HOA residents are late with their fees or have outstanding issues with the association, this could slow down the process if you’re ever looking to sell your home. These conflicts could signal financial instability to lenders and buyers, resulting in delays in obtaining mortgage approval, potential concerns about future assessments, and a negative perception of the community, making your property less attractive to buyers. Additionally, it might slow down the administrative process required for closing the sale, which can also be unappealing to buyers. Before joining HOAs in Florida, make sure that you know exactly what you’re getting yourself into.
HOA or Not…Relocating to Florida is a Journey
Of course, there’s much more to relocating to Florida than first meets the eye. Every part of your moving day will require you to choose the right option for a worry-free process. Will you bring your belongings with you or store them for the time being? When is the best time to move? How much are you willing to spend? These are the aspects you need to consider before you start planning the relocation. Additionally, hiring a professional moving company will aid you in a lot more than just transporting your belongings. Pairing up with City Movers means having them at your disposal for anything you’re wondering or having doubts about.
Ready to Make Your Florida Homeownership Dreams a Reality? I Can Help!
Whether you decide to move into one of Florida’s HOAs or choose another neighborhood, the first step and most important step is to work with a professional who can not only help you find the home of your dreams but also guide you through the entire home-buying process. As a local, expert REALTOR® at Lamacchia Realty, I know the ins and outs of the current market, and how to effectively navigate HOAs. If you’re ready to make the move, contact me today!