05 Jul 2024
By RESCO Realty

What Every Homeowner Should Know About HOA Documents

Homebuyer Tips,
When you purchase a home within a community governed by a Homeowners Association (HOA), you're committing to a unique set of rules and responsibilities. Understanding HOA documents is crucial to ensure you’re fully aware of your rights and obligations as a homeowner. Here's what you need to know and when to ask questions. What Are HOA Documents? HOA documents, also known as governing documents, include several key components: Covenants, Conditions, and Restrictions (CC&Rs): These are the rules that dictate what you can and cannot do with your property. They cover everything from architectural guidelines to pet restrictions. Bylaws: These outline…
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10 May 2024
By RESCO Realty

Understanding, Paying, and Benefiting from HOA Fees

Homeowner Tips, ,
Are you considering purchasing a property governed by a Homeowners Association (HOA)? If so, you've probably come across the term "HOA fees." What exactly are these fees, who pays them, and why are they necessary?  What Are HOA Fees? HOA fees, short for Homeowners Association fees, are regular payments made by homeowners to the HOA that governs their community. These fees are typically used to cover various expenses associated with maintaining and managing the common areas and amenities within the community. What Do HOA Fees Cover? Maintenance and Repairs: One of the primary purposes of HOA fees is to cover…
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25 Apr 2023
By RESCO Realty

The Top Homeownership Expenses You Need To Know

Real Estate, ,
Owning a home can be an exciting and rewarding experience, but it's important to be aware of the expenses that come with homeownership. Understanding these costs can help you prepare for and manage them effectively, ensuring a smoother transition into your new home. The Mortgage Payment The mortgage payment is typically the largest expense that homeowners face. This monthly payment consists of the principal and interest on your home loan. The principal is the amount you borrowed to purchase the home, while the interest is the cost of borrowing the money. The length of your loan term and the interest…
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