The Colorado HOA Forum, a home owner’s advocacy organization, has published its’ HOA Home Buying Guide. This is a list of issues that every home buyer should address prior to buying a home in an HOA (Homeowners Association). Too often home buyers find out about restrictions, assessments, and other issues after they settled into their new home causing conflicts that could’ve been avoided if they knew about HOA governance and finances prior to signing on the dotted line to buy the home.
The Colorado HOA Forum guide is based on feedback from its’ hundreds of members many of whom wished they had the guide when buying into their HOA community. Home buyers must understand that when they move into an HOA they are giving up something (property rights and living restrictions) to get something (strong local governance, enforced community standards, amenities, etc.). Furthermore, homeowners are subject financial responsibilities and obligations of the HOA many of which they are unaware of until after they move-in. Many of the items listed in the Guide are being pursued to become State law and mandated as part of the home sale transaction.
The Forum understands that informed consumers make better purchasing choices and with your home being the most major purchase you will ever make the benefit of full disclosure in imperative. The guide is available on their web site at www.coloradohoaforum.com.