What Buyers Need to Know About HOAs
By Debbie Sagorin, Marketing Irvine to the Highest Level
(Coldwell Banker Realty)
When searching for an Irvine home, you may end up selecting a property in a community with a Homeowners Association, (HOA), in fact in many communities, there are TWO HOAs. In Woodbridge for example, there's a Master Association which covers things like the two lakes, the tennis courts, parks and the 22 swimming pools, and for condo communities and some attached SFR communities, there are Sub-Associations, which usually cover the common areas, roofs outside walls, structure insurance, and so on. There may be additional fees charged to homeowners if the reserve fund for the HOA cannot cover a major or unexpected cost, like severe storm damage. It's important for homeowners to understand that each HOA is a little different, depending on a few factors like the amenities offered. In Irvine'...
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