Missy’s Real Estate Corner

“Don’t wait to buy real estate. Buy real estate and wait.” – Will Rogers

Did You Know? 

When buying a home in a neighborhood with a Homeowners Association (HOA) or a condominium, it’s important to look closely at the community’s financial health. One key factor is the reserve fund — the community’s savings account for big repairs like roofs, siding, or paving.  A good rule of thumb is that associations should be setting aside at least 10% of their annual budget into reserves. Why does this matter to buyers and homeowners?

Because strong reserves mean fewer surprise special assessments (large, unexpected fees charged to owners) and a more stable, well-maintained community.  Taking a few minutes to review the financials can help you avoid costly surprises down the road and give you peace of mind that your investment is protected.