Why Do HOA Fees Matter?

*Title:* Unveiling the Impact of HOA Fees on Your Real Estate Choices
*Description:*
🏡 *Discover the Hidden Influence of HOA Fees in Real Estate!*
Join Jimmy Roberts, a seasoned real estate expert, as he delves into the often-overlooked aspect of homeownership - HOA fees. In this insightful 4-minute video, "Why Do HOA Fees Matter?", Jimmy unravels the critical role these fees play in both the appraisal process and your purchasing power.
🔍 *What You'll Learn:*
- *The Appraisal Perspective:* Understand why appraisers and banks give so much weight to HOA fees in condos and condominium communities.
- *Amenities & Lifestyle:* Explore how these fees are a telltale sign of the quality of amenities and lifestyle you can expect in a condominium.
- *Budgeting for Your Dream Home:* Learn how HOA fees directly impact your housing budget and mortgage considerations.
- *Maximizing Your Investment:* Gain insights into how these fees influence your purchasing power and the type of property you can afford.
💡 *Key Takeaways for Homebuyers & Investors:*
Whether you're a first-time homebuyer, a seasoned investor, or simply curious about the nuances of real estate, this video offers valuable knowledge. Jimmy's clear explanations and real-world examples make complex concepts easily understandable.
🌟 *Why Watch?*
- *Expert Insights:* Benefit from Jimmy Roberts' extensive experience in real estate.
- *Informed Decisions:* Equip yourself with knowledge to make smarter real estate choices.
- *Boost Your Real Estate IQ:* Stay ahead in the property game with insider tips and tricks.
📌 *Don't Miss Out!*
Click play and step into the world of informed real estate decisions. Have questions or need more info? Drop a comment below, and let's start a conversation!
🔗 *Watch Now:* [Why Do HOA Fees Matter?]( • Why Do HOA Fees Matter? )
*#RealEstateTips #HOAFeesExplained #HomeBuyingGuide #InvestmentInsights #PropertyAppraisal #CondoLiving #JimmyTalksRealEstate #RealEstateExpertise #HomeownerBudgeting #MaximizeYourInvestment*
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[@brett76544]

I was hired by a bank to look at three HOA's. Roads, stormwater, sewer, natural gas, water and electric. One HOA maintained the roads with the others by the townships. The same with stormwater on the roads, but two of the HOA's also had stormwater systems with BMP's (best management practices) for areas not part of the roads. All turned over ownership of the water, natural gas and sewer systems. All three electric underground system were maintained by the HOA with utility meters on the homes. I had to look up in the audits if they were putting money aside for replacement or just talk to the board members. None of them were factoring in eventual replacements of anything like the pool or clubhouse. Now they do. This was added to a Phase I ESA for loans, and one was on a reclaimed mine site. It also helped that I was a chair of a sewer authority, on a borough council and a trainer for an EPA program for asset management and finance for utilities.

[@jimmytalks]

Wow! I'm happy you were able to catch this.

[@mikep490]

I am surprised lenders don't require a higher down or higher interest for HOAs since risk of foreclosure is higher.

[@jimmytalks]

Interest rates are generally tied to personal finance rather than property selection. That said, I'd assume that those who have the opportunity to live in communities with HOA fees (remember this is an additional cost on top of PITI) have or had a good source(s) of income... i.e.. these are a bank's dream client (they would be mine if I were a lender) and if I owned a bank we'd have a rule.... "don't piss off your dream clients!"