What is an HOA
A Homeowners Association, otherwise known as an HOA, makes and enforces rules for the community. While not every community is part of an HOA, if the home you are purchasing falls within the HOA jurisdiction you are required to join and pay monthly dues. An HOA is run by a board of directors that is typically made up of community members. The board is in charge of reviewing the budget, allocating funds, and imposing fines when any rules have been broken.
As your local Moorpark real estate team we are happy to explain the fact that there are many pros and cons when it comes to having an HOA. You should thoroughly consider the decision of whether or not you prefer to live within a covenant community prior to entering escrow. However, once you do enter escrow on a home that is part of an HOA you will receive a copy of the community’s CC&RS. These are known as the covenants, conditions, and restrictions. This is essentially a list of the requirements and restrictions of the community. Many people prefer to live within an HOA because it helps to keep the community looking uniform, neat, and tidy. It also prevents your neighbors from having unruly landscaping, interesting color housing choices, and trash galore. However, it also prevents homeowners from parking their RVs in front of their homes, painting their home the color of their choice, dictating what type of fencing they are allowed, and something as small as whether or not they can have a child’s basketball hoop located in the front of their home. These factors can be seen as largely negative for some families.
The fees imposed by an HOA can vary dramatically within Moorpark real estate, but typically run within the range of $200-$400 per month. These rates will vary based on the type of property, location, and amenities that the community has to offer. For example, if you live in a guard gated community you can expect the rates to be exponentially higher.