HOA (Home Owner Association) Fees are fees that are charged to the home owners who live in a specific area. It may be condos, townhomes, and property in a planned development, subdivision or gated community. These fees generally range from $200-$400 per month. This fee is used to cover expenses in maintaining common grounds such as pools, landscaping, sidewalks, clubhouse, fitness center, elevators, roofs, tennis courts golf courses, etc.
The association will also have covenants, conditions and restrictions which are rules that all residents must follow. Pay particular attention to rules regarding fines and whether the HOA can foreclose on your property for nonpayment of HOA dues or fines resulting from CC&R violations.
Northeast Columbia SC Real Estate – EXIT Real Estate Consultants
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