If you've never lived in a condominium complex or other housing situation that is typically set up as a Common Interest Community, you may not know what an HOA is or how it can affect you. HOAs exist in every state, and the homeowners associations in Idaho are essentially very similar. That's on a basic level, though, as each state's laws vary, and so do the way those laws affect communities and the homeowners associations in them.
What Are Homeowners Associations?
An HOA is a governing body with a board of directors that oversees a specific community, such as an apartment or condo complex or a particular neighborhood. Planned communities and gated neighborhoods usually have homeowners associations, but the houses don't all have to be alike and there doesn't have to be a wall around the neighborhood for the community to adopt HOA management. Just like all HOAs, after a developer has finished building out the development, the homeowners associations in Idaho are funded and run by the residents, and they're set up to ensure the community maintains a certain level of cleanliness, repair, consistency and decorum. There are pros and cons to homeowners associations, so it's important to find out all you can before buying into a neighborhood or housing complex that has one.
What Will Homeowners Associations in Idaho Do For You?
All homeowners associations have Covenants, Conditions and Restrictions, hence the acronym CC&R’s. HOA management--the board of directors--enforces these rules and are in charge of creating new ones as the need arises. These rules must be adopted and voted on by a certain number of households, enough to form a quorum. These rules vary from one HOA to the next, partially based on the type of community. Regulations would obviously be different for an apartment building in New York City than it would be for homeowners associations in a single family residence in most Idaho neighborhoods. Some of the positive covenants and conditions homeowners associations in Idaho might enforce:
• keeping front yards green, maintained, and neat
• require house exteriors to be painted if fading and can restrict your color choices
• restrict noise levels
• limit number of vehicles that can be parked on the street
Conditions like those can benefit you because everyone in the neighborhood must comply, creating a peaceful, orderly, and attractive environment to live in. Additionally many homeowners associations provide amenities you might not otherwise be able to afford and maintain, such as a community park, swimming pool, tennis courts, rec room, health club, and even accommodations for business meetings.
However, covenants and conditions might restrict what kind or how many pets you have, and even what size they can be. The rules could limit what kind of exterior improvements you can make on your home or what kind of landscaping you can do. That can include preventing you from installing solar panels and limiting how big your flower and/or vegetable gardens can be.
It Comes at a Cost
Belonging to homeowners associations depending on the amenities and number of residents, comes at a cost. HOA dues can be billed frequently as monthly in condominium developments to yearly in single family developments. HOA Dues go toward installation and maintenance of common areas which could encompass lawns, sidewalks, outdoor lighting, clubhouses, and swimming pools, depending on what your community includes. You will need to take those fees into consideration before buying a house in an HOA community, because your mortgage lender certainly will. Plus, according to Kiplinger, the HOA management board can vote to levy a special assessment and charge each member extra money if a large, unexpected repair needs to be done. Costs are typically shared equally between property owners. In Idaho we hear stories of associations in other states where HOA dues seem to increase uncontrollably, however, that is not typical in Idaho. For instance, Baldwin Park HOA in Idaho where the Broker of Stewart Realty, LLC resides has only raised their dues once in the 14 years he and his family have resided there. And that increase was only from $400 to $435/year. So, when responsible homeowners manage HOA’s and the members stay involved, it can be a very good arrangement.
The covenants and conditions might restrict what kind or how many pets you have, and even what size they can be. The rules could limit what kind of exterior improvements you can make on your home or what kind of landscaping you can do. That can include preventing you from installing solar panels and limiting how big your flower and/or vegetable gardens can be.
Find Out First
If you fall in love with a house that has an HOA, your agent should provide you a copy of the CC&R’s prior to making an offer to make sure they don't include anything you can't live with. Also, any MLS Listing sheet provided by a good Meridian Realtor should disclose what the HOA fees are and how often they are paid. You can also go the extra mile if you like and get a copy of the minutes from the most recent board meeting, or arrange to sit in on one to see what type of conflicts are typical and how the board responds to them. Plus, remember that any resident can serve on the board so if you want to help make changes or improve conditions, you could make a difference.
Whether you want to avoid homeowners associations in Idaho or are looking to specifically buy in a community with CC&R’s to protect your investment, give Jeff Stewart at Stewart Realty a call for a personal tour of the Meridian area and some great homes that fit your style and budget. Jeff Stewart, Broker/Owner 208-602-1993 or firstname.lastname@example.org