Condo HOA Fees Explained: What They Cover and Why They Matter
Donald Horne, Broker / Owner, Team Success Listing LLC
What Is a Condo Homeowners Association (HOA) and What Does It Cover?
If you’re considering buying a condo, you’ve likely come across the term Homeowners Association (HOA). But what is a condo HOA, and what exactly does it do?
A Condo Homeowners Association is an organization made up of unit owners in a condominium complex. Its main purpose is to manage and maintain the common areas and shared responsibilities of the community. When you buy a condo, you automatically become a member of the HOA and are required to pay monthly or quarterly HOA fees.
What Do Condo HOA Fees Cover?
While HOA fees vary based on location, size of the community, and amenities, most condo HOA fees typically include:
Exterior Maintenance: Roof, siding, windows, and paint.
Landscaping & Snow Removal: Upkeep of green spaces, walkways, and parking areas.
Building Insurance: Covers shared structures and common areas (note: you still need individual condo insurance).
Amenities: Access to gyms, pools, clubhouses, and more.
Utilities: Sometimes water, sewer, or trash removal.
Reserve Funds: Savings for major repairs or upgrades like new roofing or repaving driveways.
Why Condo HOAs Matter
HOAs play a critical role in maintaining property values, enforcing community rules, and creating a well-kept living environment. However, it’s important to read the HOA bylaws and budget documents before buying to understand the rules and financial health of the association.
Knowing what an HOA covers in a condo can help you make an informed decision. You’ll want to balance the benefits of convenience and shared maintenance with the monthly costs and any restrictions the HOA may impose.
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Donald Horne / Broker-Owner
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