Hey guys, this is Jury Hernandez—your Kissimmee real estate agent—and today, I'm bringing you vital insights that are absolutely essential if you're considering buying a home in one of Florida's famed planned communities. As many of you might know, especially those relocating from another state, a distinctive feature of the Sunshine State is its abundance of meticulously designed residential areas. And what's more, the majority of these settings are governed by homeowners' associations (HOAs). In this blog post, we're diving deep into what it means to buy a house within the parameters of an HOA and how to navigate this terrain wisely.
Understanding HOAs in Florida's Planned Communities
First things first, becoming part of an HOA isn't usually an option—it's a requirement. Membership fees are par for the course—and these can be charged upfront or over time, depending on the specific community's policy. Now, let's talk coverages and responsibilities, which can vary dramatically from one HOA to another.
HOA Fees and Coverage: Single-Family Homes vs. Townhomes and Condos
In a single-family home community, it’s unlikely that your HOA will extend to covering the roof or exterior maintenance. However, step into a townhome association, and you may find these types of repairs are part of the package. Condominiums offer an even broader swath of services, typically encompassing all exterior maintenance within their purview.
Buyer's Responsibility in Homeowner Association Agreements
The Importance of Documents
As a buyer, it's your duty to become well-versed in the community’s rules and regulations. Although we, as real estate agents, will supply you with all the necessary documents, ultimately understanding these details is your responsibility.
The Golden Rule: Inspection Period Due Diligence
If your offer on a property has been accepted, you enter the critical inspection period. Use this time to secure and scrutinize the HOA's covenants, bylaws, and accountability matrix—what they cover and what falls on your shoulders. This clarity is imperative for a smooth homeownership journey.
Engage with the HOA Manager
I highly recommend picking up the phone and having a candid chat with the HOA manager. Gain insights into their insurance provisions and financial strength, as well as any upcoming dues adjustments—because rest assured, HOA fees are more inclined to rise than fall.
Also, what does the HOA covers and what are the owner's responsibilities.
Additional Fees: CDDs and CFDs Explained
While we're here, let's quickly touch on Community Development Districts (CDDs) and Community Facilities District (CFD) fees. Like HOAs, CDDs involve maintenance expenses that become part of your property taxes. CFDs, on the other hand, are less common and often pertain to areas where the local government has taken over certain improvements and maintenance aspects of communities.
Side note: Just in case you are looking for a home in Kissimmee, there are 4 CFD communities here. Crescent Lakes, Indian Creek, Indian Point, and Indian Ridge Villas.
Conclusion: Embrace Your HOA Community
With this knowledge to hand, approach the prospect of owning a home in an HOA community with confidence. The benefits can be numerous—from community amenities to sustained property values.
If you're ready to start your home search journey in Kissimmee, don't hesitate to reach out. I, Jury Hernandez, am here to equip you with the knowledge you need to invest wisely and with peace of mind.
Until our next insightful exploration, remember I'm not just here to sell houses—I'm here to guide, inform, and inspire you in your real estate journey. If you have any further questions or need personalized advice, my door is always open. Connect with me, your trusted Kissimmee real estate advisor, and let's make your dream home a reality.
I hope this post has shed light on the nuances of purchasing a property within an HOA in Florida. Remember to share your thoughts, experiences, or any questions you might have in the comments below. If you found this article helpful, do share it with others embarking on their home-buying journey. And of course, for more advice and the latest updates on Kissimmee real estate, make sure to subscribe to my newsletter.