[Bogie Shooter]

Originally Posted by joelfmi

Knowing how much you’ll have to pay each month in homeowners association fees helps you understand your budgetary expectations. Plus, knowing what the HOA fees cover gives you an idea of what extra costs you might incur for things not covered, which varies from community to community.

The price for your house is what gets you into an active adult community but it’s the homeowners association fees that you’ll be paying for the years ahead. While these fees go towards worthwhile services (lawn care, trash removal, exterior maintenance, amenity upkeep, just to name a few potential items), they can be a source of discomfort for many residents who didn’t know the specifics going in or until they were already buying.

So why is it so hard to find out what a 55+ community’s HOA fees are? Turns out there are a few reasons.

HOA fees are not fixed and are subject to change at different intervals depending on the community. They may change every year or even as quickly as every quarter. When we say they change, we really mean that they’re probably going up in order to cover the costs of upgrades, emergency maintenance, and inflation.

Visit an active adult community, don’t be afraid to ask for as much information as you need to make an informed decision, which includes a full breakdown of HOA fees, a history of how the fees have changed over time, and a copy of the HOA’s annual budget common area Rules for homeowner. Your agent should be able to help you procure this information if you’d prefer (and if they tell you they can’t, you might need a new agent).

And which village do you live in?