Last week we learned about all the wonderful benefits of homeowners’ association (HOA) living, like laying on a bed of roses. Today, we’re going to focus on the thorns. As you may recall from last week, for the purposes of this article, when we say HOA, we are referring to communities of single-family homes, condominiums, townhouses and rowhouses. While there are technical distinctions between these, we are just looking at the big picture. So. . .back to those thorns, starting with the assessment. Many HOAs can be expensive. Sure, it’s nice to have a doorman, a gym, an indoor pool, a rooftop pool, and a party room. It’s nice to have someone else tuckpoint the building, mow the grass, and fix the roof. But all of that costs money. You may not be personally maintaining these items, but you are still paying for them. Assessments can go anywhere from $100… read more →
