Many home buyers feel strongly whether or not they want they want to live in a subdivision or condo complex with an HOA.

Besides looking at real estate that either has HOA covenants or not, there are considerations to take into account when buying a Colorado home or Colorado condo with an HOA.

John Rebchook in InsideRealEstateNews.com wrote a great list of these considerations, that include:

• How much are the assessments or HOA dues?
• What do the HOA dues cover?
• Have you read the HOA documents?
• Get and review the minutes of the last HOA board meeting.
• Get the financials and look at how much is in reserve.
• When were the roofs last repaired or replaced. Boilers?

If it has been a long time and the reserves are small that can be a red flag signaling that a special assessment will be required to fix a major problem.

Have you had experience dealing with a good HOA or a bad HOA?   Share your comments and your suggestions with us.

If you’re inclined to be a leader in your community, consider joining your HOA board or a committee.  It could be a way to meet others in your neighborhood.