Parking – Check with the HOA directly to see what guest parking is like. Usually, parking is first come first serve. In that case, it may be better to visit the complex at different times of the day on different days of the week to see how many spots are actually available. Some residents abuse this & you’ll want to know ahead of time.
Neighbors & Amenities – walk around the complex a couple times to get a sense of the culture there. See what types of amenities are offered and if people are actually using them. BBQ, pools, community center(s), gym, theatres, etc. While walking around ask the residents there how they like the community & if they have had any issues with management or other neighbors.
Rent/Own Ratio – Check with the HOA directly to see if there are any regulations on how many units are allowed to be rentals. If your long-term game plan is to have the unit as a rental in the future you may not be allowed. CC&R’s can change even after you purchase so you may need to check on this sporadically.
HOA/Community Reviews – Take this with a grain of salt because people tend to write reviews when they are disgruntled. If you see a large number of bad reviews this should initiate more thorough research.
Rules – Most people get swept up in the glamor of buying a new place. But be sure to read all of the CC&Rs which will go over all the rules of the complex. Things to specifically look into:
- Is there extra storage that can be bought/rented?
- Can parking spots be bought/rented?
- Are pets allowed & what are the specific requirements for those pets?
- What utilities are covered?
- How often have the HOA fees increased?
- Are there specific rules to follow upon move in / move out? (Some complexes require you to schedule this with their management ahead of time)
- What are the common area rules (are reservations required at certain venues)?
- What does the complex insurance cover?
