When you purchase a home, there’s a good chance you’ll have to pay a homeowners association fee or HOA, especially in gated communities, townhouses, condominiums, and other similar planned neighborhoods. The idea is to keep common areas clean and maintained, and there’s usually an HOA board that is responsible for setting the rules and regulations.
Each HOA is different, but most have the same core elements. You’ll typically pay your HOA fees either monthly or annually, and it’s an important factor to consider when you’re weighing your options for a new home for sale in Incline Village NV.
So what is typically included in your HOA fees?
First, the fun stuff –
Amenities are typically the big perk of living in a community with an HOA. While you lose out on some of the freedom of living without an HOA, you instead get community amenities like a maintained pool, gym, clubhouse, tennis courts, and other amenities. The HOA fees pay for cleaning and maintenance, so—in theory—you’ll always have a clean pool whenever you want to use it.
Protecting the community –
HOA fees often contribute to insurance for the community amenities, as well as a fund for unexpected repairs to damaged community property—think damage from weather or accidents.
General maintenance –
Your HOA fees will go toward maintaining the general safety and upkeep of the community. This means things like elevator maintenance for condominiums, snow removal, and trash/recycling services.
Administration and Paperwork-
The administrating organization of your HOA is responsible for sending out those bills you pay. They also oversee finances, hold regular meetings, and enforce community rules and regulations.
You HOA fee also pay your homeowner’s association newsletter and your HOA website. When you call the HOA to report a concern, ask a question or request assistance of any kind, the person who answers your call is also paid by your dues as well.
Be active in the association –
There may be a board of directors, but homeowners associations exist for the betterment of the entire community, and every voice matters. HOA meetings—and the amenities they support—provide great opportunities to meet your neighbors and make your community a better place.
Call me, Peg Augustus, at 775-336-8631 for more information on Incline Village real estate and on moving to the area!
I moved here over 30 years ago so I do know a thing or two about living in Incline Village on the Nevada side of Lake Tahoe. I also know the real estate market like the back of my hand. I have been selling real estate here for the past 30+ years. Put my years of market experience to work for you.