One of the most important questions any new homeowner should ask, prior to moving into a new home, is whether or not the community they’re moving into has a governing homeowners’ association, or HOA.
The idea of homeowners’ associations is definitely not a new one, as they've been around for decades. But their prevalence is on the rise, with nearly 6 in 10 homeowners across the country now living in communities that are overseen by homeowners’ associations.
So, why the increase? Well, the easy answer is that it’s what the majority of homeowners want, and when managed properly, they can be a real benefit to any residential community.
They have many benefits, but there are things to be wary of as well. Let’s look at some of the…