Homeowners Associations, also known as HOA, are non-profit, local organizations with numerous benefits for homeowners. We recommend that prior to purchasing property in a residential neighborhood, you should learn more about HOA that governs the area and the contracts for members. Total Quality Home Builders will handle the submission of the homeowners association application that the HOA requires.
A Homeowners Association consists of elected leaders and member homeowners in a local geographic area. The members voluntarily join to create the association to benefit a neighborhood. HOAs may be single-family homeowners, condo owners, or mixed-use communities. Some planned real estate developments include an HOA that is mandatory for residents to join.
The Purpose of an HOA
The HOA’s overall purpose is to preserve the aesthetic quality of the neighborhood and enhance a community’s property values. Typically, the requirements established by an HOA deal with appearances, including property cleanliness, condition of the individual property, and necessary repairs. Uniformity in the neighborhood is also an important part of HOA regulations. These guidelines will be expressed in your homeowners association application.
The HOA may also provide additional services for its members that are covered by the monthly HOA fee. Use of cooperative facilities like swimming pools, tennis courts, or event buildings may be included. The members of an HOA will elect a board of directors or a president to handle the organization’s affairs and finances. These leaders are also responsible for enforcing the HOA’s guidelines among the members, as established in the HOA’s charter.
Submitting the Homeowners Association Application
Many HOAs will have covenants that regulate things like fences, building materials, and even the color you can paint your house. It’s very important that your custom home builder is familiar with the HOA that’s associated with the property on which you will build your home. Since Total Quality Home Builders has been building in the Lake Keowee area for over 20 years, we’re familiar with the rules and regulations of the many HOAs in the area. When it’s time to submit the homeowners association application, TQ will guide you through the process.
Next in Part 13: TQ Funding Options for a Custom Home, we’ll discuss our process for financial funding and the TQ accounting procedures.
