HOA: Love it or hate it?

DENVER - Some people refuse to buy a home in a neighborhood that has a homeowners' association. Others say they can't live without one.

Realtor Wade Perry says not all HOAs are the same, and you have to examine the pros and cons.


Amenities: Pools, tennis courts, playgrounds, public gardens, club houses, etc.

Maintenance: Snow removal or lawn service

Property Value: Rules about keeping garage doors closed, cars in driveways, no signs in front yards, etc. help keep a neighborhood clean and well maintained. That, in turn, helps maintain property values.

Sense of Community: HOAs often organize events like easter egg hunts, Fourth of July parades and holiday parties.


Big Brother: Some people may feel like they are constantly being scrutinized or even discriminated against.

Cost: Dues can run as low as $100 a year to as high as $300 a month.

Rules: They may impinge on your lifestyle.

If you are considering buying a home in an HOA, Perry suggests you ask yourself the following questions:

  • Will I actually use the amenities I am paying for?
  • Can I afford it? You will need to budget for those monthly/yearly fees.
  • If there are extra fees/ assessments can I afford it? Review the HOA's financial reports. Find out if it has an emergency fund and how often have they had to dip into it.

(KUSA-TV © 2014 Multimedia Holdings Corporation)


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