When you plan to buy a home in Orange County, California, you might have some questions about homeowners associations (HOA). Understandably so! HOAs are a topic that strike fear into many a homebuyer's heart, with all the horror stories of oppressive HOA rules and domineering board members. Chances are you’ve heard a few.
If you’re thinking of buying an Orange County home in an HOA, be sure to do your research. Ask sellers for their HOA contact and attend HOA meetings to get a feel for the community and the HOA board. Read the CC&Rs to learn about the rules of the community. And be sure to review the HOA’s financial statements to ensure that the HOA is in good financial health. If you’re already a member of an HOA, get to know your HOA board members and attend HOA meetings. The more you know about how your HOA works, the less likely you are to be surprised by an HOA action.
Per the California Association of Community Managers, there are roughly 5,000 separate homeowners associations in Orange County, California. (See the full data at this PDF link.) With an average of around 173 properties per HOA, there are about 900,000 HOA-governed homes in the county, which house over 80% of its residents.
So, if you want to buy a home in Orange County, CA, chances are it will be in a homeowners association. Hopefully, this HOA FAQ helped to answer some of your questions. Before you dive into a home purchase or any HOA-related legal action, we highly recommend that you consult with your Realtor and an experienced, qualified real estate attorney. If you need a recommendation, we’re happy to help! As always, we are here as your resource for all things Orange County real estate. Give us a call, or click here to contact us online.