If you’re a first-time homebuyer, or if you’ve previously owned a home that wasn’t part of a subdivision or neighborhood, you may not be that familiar with homeowners’ associations. However, many homes for sale in Grand Junction are part of an HOA–and that means you need to become familiar with what they are, what they do, and how much membership will cost you.
What is a Homeowners’ Association?
A homeowners’ association is an organization that’s usually staffed by neighborhood residents; they’re paid through monthly dues, and they make rules and regulations for the people who live in the community.
In most cases, the HOA is also responsible for enforcing the rules and maintaining common areas, such as parks, playgrounds, pools and other amenities.
How HOAs Get Funding
Homeowners’ associations get their funding by collecting monthly dues from neighborhood residents. Some HOAs collect monthly, while in others, dues are payable annually.
What Rules Do HOAs Come Up With?
No two homeowners’ associations are the same; each neighborhood, its needs, and its dues are different.
However, some common rules that HOAs may impose in communities include restrictions or rules on:
- Exterior paint colors
- Installing fencing
- Parking on the streets
- Lawn maintenance
- Time limits for making repairs on cosmetic problems
- Loud music and parties
- Types of inhabitants in homes
- Whether you’re allowed to rent your home to a tenant
Every homeowners’ association has its own Declaration of Covenants, Conditions and Restrictions–commonly called CC&Rs–which you can often view on your community’s website. If you’re purchasing a new home, you’ll also be given a copy of your community’s CC&Rs before you close.
Are You Looking for a New Home in Grand Junction?
If you’re looking for a new home in Grand Junction, we can help you find one that’s perfect for your needs.
While you’re here, you can also check out our:
- Fruita real estate listings
- Palisade real estate listings
- Redlands real estate listings
- Clifton real estate listings
- Glade Park real estate listings
- Loma real estate listings
- Whitewater real estate listings
When you’re ready, call us at 970-765-4135 or get in touch with us online to tell us what you want from your next home. We’ll begin searching right away.