I am looking at getting into my first property and i know things like grass, outside maintenance is something that SFH have to take care of as a single family home.. However when it comes to condos HOA takes care of these things:
maintain all structures, such as patching damaged roofs and siding, for example. Your HOA will also take care of the grounds by hiring landscapers to cut the grass, maintain gardens, and trim bushes.
What is the cost overlay on a property HOA vs outside maintenance?
I guess it depends on the market?
Little about the market i am looking into:
HOAs are around 100-165 monthly
Very Dry Area ( Nevada)
MOST DONT HAVE GRASS
Properties are probably 1980-2000?
Obviously I will be using an inspector to see if roofs are good for the next xxx years.
I guess i am looking for a rule of thumb.
I am sorry, I am confused, Can you try re stating your question?
Are you asking "since there is an HOA in place what should I budget for repairs and rehabs not taken care of by them"?
Very little, newer houses like that will need almost nothing exterior that isn't covered by them. Every HOA is different, so you might want to knock on some doors and ask "how long have you lived here? What have you had to do to your house on the outside that wasnt covered by the HOA". If you get a whole-lotta "nothing" as an answer you should be fine to budget nothing and just pay for items as they come up.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.