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What You Need to Know About Homeowner Association Fees

What You Need to Know About Homeowner Association Fees When buying a home, you’re probably thinking about mortgage rates, home prices, your down payment, and maybe even your closing costs. But you may not be thinking about homeowners’ association (HOA) fees. While you won’t necessarily have these, you should know it’s a possibility, depending on where you decide to live. A homeowner’s association is basically an organization that oversees a housing community (including shared spaces) and sets and enforces rules for things like upkeep. Some buyers love the perks that come with an HOA, others may see the fees as an extra expense. The key is knowing what they cover and whether the benefits outweigh the costs for you.   The Benefits of Having an HOA: Think about this. If you’ve fallen in love with a home because of how beautiful the community is – maybe it’s the landscaping, the well-maintained streets, or the overall curb appeal – there’s a good chance the HOA is one of the reasons why it looks so good. Here are some of the biggest perks: Neighborhood Maintenance: Many HOAs cover landscaping, snow removal, and upkeep of common areas. This helps maintain the neighborhood’s overall appearance. Amenities: Depending on the neighborhood, an HOA could also include access to perks like a pool, clubhouse, fitness center, or even private security. In these cases, while you have to pay an HOA fee, you’re also saving money in some ways because you don’t need to have separate gym or pool memberships anymore. Some here in Charleston even include private community boat docks, storage, and ramps exclusive for you to use! Property Value Protection: Since HOAs enforce community standards, they prevent homes from falling into disrepair. So, you don’t have to worry about nearby eyesores hurting your property value. Less Personal Upkeep: In some communities, HOAs even take care of exterior maintenance, roof repairs, or other shared responsibilities, reducing the work for homeowners.   HOA Fees: More Common, Especially in Newer Neighborhoods Does every house have HOA fees? No, not all homes have them. But they are common, especially in newer communities. In fact, over 80% of newly built single-family homes are now part of an HOA, according to the Wall Street Journal (see graph below):   But it’s not just new builds that have homeowners’ associations. Homes that were previously lived in may have an HOA fee too. According to Axios roughly 4 out of every 10 homes had an HOA in 2024.   HOA Fees and Your Home Search Ask me about which homes do and do not have HOA fees as part of your search – and how much the fees are. Some neighborhoods have quarterly dues, some have monthly, some don’t have any at all. To give you some sort of baseline though, the median HOA fee rose last year to $125 per month, based recent reports.   Bottom Line Before buying a home in an HOA community, it’s a good idea to review the rules and fees so you know exactly what’s included, how that fits into your overall budget, and what restrictions may apply. Would you rather pay an HOA fee for added perks, or skip it and have full control over your property?  Let’s talk about what’s best for you! Call me any time to discuss: 843-566-5029

Written by Stephen Tichy on May 23, 2025. Posted in HOA Information for Prospective Buyers
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