What is a HOA or a Home Owner's Association?

Real Estate

Many people who move to Myrtle Beach have never heard of the term H.O.A or a Home Owner's Association.

First things first...What is an HOA?

A Home owner's association is an association responsible for setting community rules which residents must abide by. These are typically called covenants, conditions and restrictions (CC&R's). These rules can vary by community, i.e what paint colors you can and can't use. 

Typical HOA fee's can vary greatly depending on the location and value of your property. Some are $50/month all the way up $800/month. 

Do I have to join the HOA if I move into a property that is governed by an HOA? 

Yes, if you purchase property within an HOA community you are REQUIRED to join the HOA and pay the monthly fees associated with it. 

According to the U.S. Census Bureau the average annual HOA dues are $396.

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What does the HOA do for me as a homeowner? 

The primary function of an HOA is to keep your property value as high as possible. They do this through enforcing rules that protect the homeowner and promote continuity throughout the neighborhood. 

Bottom line:

Don't let HOA fee's scare you!

They are in place to protect the value of your home and most people grow to appreciate having a governing body to preserve the quality of the neighborhood. 

When are ready to view properties make sure your real estate agent seeks out the specific HOA guidelines so you know exactly what you are responsible for before you move in!

All that being said there are always the outliers,  Click here to see the 7 craziest HOA laws!

If you have any additional questions  please feel free to reach out!