Part of the appeal of buying a home that is located within a Homeowner’s Association (HOA) is the help busy people get in managing their property. An HOA is a formal legal entity that has been created to maintain common areas. The HOA has the ability to enforce deed restrictions. Rules are put in place or were put in place by the developer to protect property values.
Buying a home in an HOA might be helpful when it comes to things such as keeping up the common grounds (landscaping, community pools, etc.) but if you buy before you study the HOA, you may get yourself in a situation that you don’t like if you disagree with the rules. An [HOA] board’s fiduciary responsibility is to protect property values, maintain the character and appearance of the community and meet the established expectations of owners in the community.