Today’s blog continues to explore ways that real estate agents can match potential buyers with communities that they will love.
Homeowners Associations (HOAs) govern many of today’s neighborhoods (both condominiums and planned unit developments). Before a home is purchased that is part of an HOA, it’s important that the buyer take the opportunity to decide if the HOA matches their desires and lifestyle.
Rules, covenants, fees, and amenities vary from one HOA to another. Like everything else, it’s not one size fits all. By asking a few questions upfront and obtaining the right HOA documents from Home Wise Docs by way of our website, realtors can help put a buyer in an HOA that is well-suited to the clients’ standard of living and everyday life.
Here are 7 questions that can help you create a good match.
1. Do you like to live in close proximity to your neighbors?
Residing close to neighbors or in the same building is an advantage for some people and a detriment for others, so this is an important factor to consider when purchasing a new home.
2. What is the HOA fee range that you can afford or feel comfortable in paying?
Fees vary from one community to the next, so it’s critical that the buyer is committed to and can afford the HOA fees.
3. What type of services and amenities do you want or expect from an HOA?
Pools, tennis courts, fitness centers, community centers, etc. are just some of the amenities that people may want to ensure are available before purchasing an HOA home. The extras are more important for some people and less important to others, so it’s a good idea to outline desires and expectations at the onset.
4. Do you have pets (type, weight, number of animals, etc)?
Pets are an extension of family and very important to owners. If the client has pets, you need to ensure that they are allowed within HOA rules before the client falls in love with the property.
5. Are you agreeable that the HOA rules may direct and/or limit your home improvements?
HOAs can be too restrictive for some homeowners, which is why some people don’t fit with a community that limits home improvements. This is especially true for those who like to change colors, add buildings and modify their homes.
6. How many vehicles do you have?
Some HOAs restrict the number of cars that can be parked in front of the home, so this is an important question for those people who have an extra car(s). If the client has multiple vehicles, explore parking options if sufficient parking isn’t readily available.
7. Do you have a home business that could interfere with HOA rules?
HOAs usually have rules regarding parking, traffic, noise, etc., so it’s vital to know if a business will violate any rules before the purchase.
Realtors get away with asking buyers personal questions when the same questions from an HOA Board or other association members would be considered rude. Why? Buyers appreciate an agent who takes an interest in strategically matching them with the home of their dreams. It’s important to everyone (the buyer, the agent, and the community) to achieve both short and long-term pleasure in an association home sale. A few basic questions go a long way in reaching the goal!
Stay tuned for our next blog on answers that real estate agents need to have before listing HOA property.
Wise Property Solutions serves condominium and homeowners associations by addressing their financial, association and facilities management needs. The only certified and licensed community association management firm serving the Mountain South (Virginia, North & South Carolina, Tennessee) with offices in the Tri-Cities and Knoxville.