Buying a Home Step 13: Understanding HOAs, CCRs, and bylaws (when applicable)
/When purchasing a home, it's important to understand the governing documents of the Homeowners Association (HOA) that governs the community. These documents, which typically include the Covenants, Conditions, and Restrictions (CCRs), outline the rules and regulations that all residents must follow. Here's a checklist of commonly found items to consider when reviewing these documents:
Architectural guidelines: These rules dictate what types of changes you can make to the exterior of your home, such as adding a fence or painting the house.
Use restrictions: These rules outline what you can and cannot do on your property, such as running a business from home or using the property for short-term rentals.
Maintenance requirements: These rules outline the responsibilities of the HOA and the homeowner for maintaining the property, including landscaping, painting, and repairs.
Assessment fees: These fees cover the cost of maintaining the community, such as landscaping, pool maintenance, and security.
Dispute resolution: These rules outline the process for resolving disputes between homeowners and the HOA.
Understanding these governing documents is crucial when purchasing a home in an HOA community. Make sure to review them carefully and ask any questions before making an offer.
Are you ready to begin the home-buying process? Whether your timeline is 3 weeks, 3 months, or 3 years, our team is here to help you every step of the way! Get started now by filling out our Ready To Buy Survey, and our team will reach out to schedule a call to discuss how we can support you on this path.
Terra Wright Knudsen- Bainbridge Island Realtor
