Should I Buy an Home in a Homeowner's Association?

Real Estate Agent with eXp Realty

First time home buyers ask me this question all the time: should I buy a home in a Homeowners Association? Also known as an HOA, the answer to the question is a personal one because HOA's, like most things, have pros and cons. 

In this short video I talk about those pros and cons.

How do you know if a home is an and HOA or not? Well, here in New Mexico it has to be disclosed before you purchase. You're supposed to receive HOA documents including the HOA resale disclosure at least 7 days before you go to close on your new home. The resale disclosure certificate gives you all the most relevant information about the association including the current monthly HOA fee. However, when you're browsing online looking for homes on sites like Zillow, you're not going to know if a neighborhood has an HOA or not. For that your going to have to contact a local Albuquerque Realtor like me.

Are Homeowners Associations Mandatory?

Homeowner's associations are almost always mandatory in Albuquerque and Rio Rancho NM. Neighborhood associations, however, are usually voluntary. Most HOA's that I know of can write citiations and put a lien on your property if you don't pay them or if you don't pay your quarterly dues. I don't know of any neighborhood associations, which are friendly groups of interested neighbors, that can do that.

That doesn't mean if your home does not have an HOA that you can anything you want with your property, if it's in the city, because most neighborhoods have some kind of covenants and restrictions in addition to local zoning code.


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Richard L. McKinney P.A.
Atlantic Shores Realty Expertise - Port St Lucie, FL
For Results that MOVE you on the Treasure Coast!

Nice post. 

Dec 07, 2015 11:16 AM #1
Fred Hernden, CMI
Superior Home Inspections - Greater Albuquerque Area - Albuquerque, NM
Albuquerque area Master Inspector

HOA's are good and bad. Some people look at them as being the Gestapo, I look at them as not letting your wacky neighbor paint his house bright orange and keeping the car up on blocks in the front yard. Great video!

Dec 07, 2015 11:09 PM #2
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

It's NOT for me.  But I have a lot of buyers who only want a neighborhood with an HOA

Jan 27, 2016 12:18 PM #3
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Rich Cederberg

eXp Realty Agent Albuquerque
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