Monday, May 28, 2018

The Homeowner’s Role In a Homeowner’s Association

Each year, more people buy homes and join a homeowner’s association or HOAs. These communities hold a lot of promise for homeowners, not just with the quality of living but with future reselling as well. The rules and regulations of HOAs allow for property values to go higher over time, and many potential buyers have been swayed by the allure of being part of an HOA.

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But what exactly is the homeowner’s role in an HOA? 

To reap the rewards of being part of an HOA, a homeowner has to be committed to the rules of the community. Most of the regulations take almost zero effort to follow and in fact are things that people do on a regular basis. While following the restrictions for some homeowners, may take a bit of getting used to, unreasonably and overly restrictive rules are very rare and are almost always up for contestation. 

The first thing future homeowners should do is to look up the rules and regulations of an HOA, even before they decide to buy the house. Once all necessary documents have been signed, homeowners should then should fulfill their responsibilities such as keeping their homes presentable at all times. Typically, schedules and time frames for renovations are part of an HOA’s list of regulations. 

Homeowners can also suggest and recommend ways to enhance the quality of living in an association such as having neighborhood watches and sporting events in nearby parks.

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AMMCOR, Inc. is a Homeowners Association management company that provides services for over 15,000 homes in Orange County. For more on AMMCOR and its high-quality service, visit this website.

Monday, May 7, 2018

Addressing Common Concerns Among New Homeowners

Owning a home is the dream of many Americans. And it would do well to be aware of common questions about finances (like tax alleviations) and maintenance requirements so one can better adjust to homeownership.

The first thing to consider is the strategy that will be used in handling finances post-ownership. A good advice is to make a list of regular bills and their respective payment dates and ensure that you pay these on time. This way there will be money reserved for savings and home maintenance.

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It’s essential as well to understand that one’s credit score will decrease during the first months of buying a house. But paying mortgage regularly and on time will quickly help it go up anew. Unless it can’t be helped, don’t be tempted to open new credit accounts. And maintain a low credit-account balance.

As far as improving equity, always keep the house in tip-top shape by having preventive maintenance in mind. One can make a checklist of things to regularly monitor in the home, from potential leaks and roofing to overgrown grass in the backyard.

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Finally, be aware that homeownership can ease taxes. An important perk that comes with homeownership is that both property tax and mortgage interest get deducted from annual tax returns.

AMMCORis a Homeowners Association management company that provides services for over 15,000 homes in Orange County. The company has been giving clients quality service since 1979. For more insights on homeownership, visit this blog.