There is few things you have to consider if you want to buy your home in community like that.

First thing is financing. If you are obtaining mortgage to pay for your future home, make sure that your lender knows if there is HOA fee involved. Most of the time lender will prequalify you for your maximum purchase price and will take under consideration estimated monthly tax and homeowner’s insurance amount, but not HOA fees. So if you hear that your maximum is $200,000 and you are looking at $200,000 home with monthly HOA fee of $300, you will not be able to get loan.  

Second issue- your balance to close. Find out if there is “capital contribution” in community (in most cases there is). When you purchase home, HOA asks for kind of “sign in fee”. Numbers could be as low as $500…then it is not a big deal. But there are communities that charge $30,000 or even $60,000. Could fee like that be a deal breaker? You bet it could.      

Third- application process. If you need quick (two weeks) closing, find out if there is approval process by HOA and if there is, what is time frame. Usually it is 30 days, so give yourself enough time.

Of course there is a lot of different questions you should ask and a lot of different issues to come up.    


Call or email Anna Chroscicki with RE/MAX Masterpiece Realty at 772-485-4188 or



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