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STEVE: So HOA is the homeowners association.
They can pay for a lot of different things, depending on the neighborhood. In this neighborhood
we're paying for the landscaping in the front of the development, it pays for
lighting all throughout the year, sprinkler systems, watering of the landscaping, but
then also lighting around the holidays.
DONNA: So if you're expecting to put a 6-foot privacy fence up because you have a dog, you'd
better make sure you can because homeowners associations do restrict things.
Some homeowners associations, they'll restrict fencing. They won't let you have a boat outside,
you know, parking on the street, so just be aware of restrictions. You want to ask that
question.
DONNA: The final say is going to be their committee, so to speak, the president, your
treasurer, so forth, the people that have been elected to
the board, and they're the ones to maintain the homeowners association, enforce their
rules.
DONNA: Homeowners association fee is a fee that goes to the development. Typically those
homeowners association fees are just yearly fees, and what you want to know about that
is obviously what they cover, so you know, and then what it won't allow you to do.
DONNA: So know what the yearly fee is, if it's $300 or $200 or whatever, and know who's
managing it. Is it still with the builder there or is it actually the homeowners because
if it's the homeowners association and you buy a home there, you can be active in it.
You can participate. You have a right. You have a vote there, so it can be a good thing.