A homeowner’s association, or HOA, is an organization within a subdivision, planned community, or condo building that makes and enforces specific rules for the properties and residents. A homeowner’s association (HOA) is usually found when you purchase a condominium, townhome, or other development property.
To purchase the home, you must also join the HOA and pay monthly or yearly HOA fees. These fees can cover common area maintenance, repairs, and general upkeep. The more amenities your building offers, the higher the HOA fees typically are.