Check Out the New Construction in Davie!

Oak Park
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Sterling Ranch
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Woodbridge Ranches
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Saddle Bridge
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Vaquero Trails
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Camelot Estates

Camelot – Features

Grove Creek Ranches

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February 1, 2017News, Real Estateconstruction, davie, fl, homes, new, new construction, news[email protected]

How Will Spouse’s Bad Credit Affect Our Mortgage Loan?

Question: “I have excellent credit. But my husband has bad credit. We want to buy a house together, using our combined income. How will his credit situation affect our chances of getting approved for a home loan? Can we just use mine?”

For richer or poorer, in sickness and in health, and with good credit or bad. Marriage is all about sharing!

All jokes aside, here is the short answer to your question:

If you plan to use both incomes to qualify for a loan, the lender will probably look at both of your credit scores as well. If they only looked at your excellent score, you would have an easier time getting approved and would probably qualify for a great interest rate. But your husband’s low score will likely come into the picture, and it could affect your ability to secure financing. It could also cause you to take on a higher rate.

Here’s the longer answer to your question:

When you marry somebody, your credit scores remain separate. Yours is yours, and his is his. They do not merge in any way. You share everything else in marriage — just not your credit scores.

Of course, if you apply for some kind of financing as a couple (like a mortgage loan), the lender will review both of your scores. They do this to see how both of you have borrowed and repaid money in the past. But they’ll also look at your combined income, and that could work in your advantage in terms of securing a loan. So it often becomes a tradeoff. Having two incomes could help you qualify for a loan, while the lower credit score could create problems. It all comes down to how the lender views you as a “total package.”

This is actually a common scenario. A lot of married couples are in the same situation as you. One person will have excellent credit, while the other spouse will have bad credit. But they want to use their combined incomes in order to qualify for a certain loan amount. The bottom line is that if both names are on the loan documents, and both incomes are being used to qualify, then both credit scores will be reviewed as well.

There’s an article about this on myFICO.com, a website owned by the company that created the FICO credit-scoring model. Here is what they said to someone asking the same question as you:

“Even if your wife’s good score would qualify her for a loan with a good interest rate, your bad score may mean that, as a couple, you would only qualify for a loan at a worse interest rate. If your score is very bad, you may not qualify at all.”

Can You Get a Loan on One Income?

If your spouse’s credit is so bad that it will affect your ability to secure financing, you basically have two choices. One option is to apply for the loan by yourself, using only your income to qualify. The drawback here is that you’ll qualify for a lesser amount, when using a single income instead of two.

You could also wait until your spouse has a better credit score, and then apply for a loan. How to improve a score is another lesson entirely. In short, it is best accomplished by paying all of your bills on time, and by reducing credit card usage and balances for a more favorable “utilization ratio.”

Having a spouse with bad credit is not necessarily a deal-breaker as far as mortgage loans go. The lender will consider the bigger picture, including your income stability, employment, debt-to-income ratio, and other factors. But it does require some extra consideration on your part. Hopefully this article gives you some things to consider. Good luck to you and your spouse in your home buying ventures!

Roofing: A Guide to the Options

Article by HouseLogic By Jeanne Huber Published 08/18/16

A roof replacement is one of the biggest financial commitments a homeowner will make, so here’s a guide to roofing materials that will help you spend your money wisely.

Replacing a roof is a substantial undertaking, with an average cost of $7,600 for an asphalt roof, “2015 Remodeling Impact Report” from the NATIONAL ASSOCIATION OF REALTORS®. The price jumps if you upgrade to standing-seam metal and better quality underlayment and flashing.

But while you might get more immediate pleasure from those upgrades, they can’t compare to the long-term value of a solid, attractive, and leak-free roof. About three-quarters of homeowners get new roofs not because they want to but because they have to. If you’re one of them, here’s a guide to your options.

How Roofing Materials Are Sold

Most roofing is sold by the “square,” enough to cover 100 square feet of roof area. Our sample house — a typical two-story, 2,300-square-foot house with a medium-pitch roof — has a roof area of about 1,500 square feet. Double that if the house is only one story. Note: All costs are approximate.

Composition Shingles

Commonly called asphalt shingles, these are the most popular residential roofing material in the country. Most products consist of a fiberglass mat between two layers of asphalt. Tiny stones embedded in the top help protect the shingles from the sun’s damaging rays.

Basic three-tab shingles have slits in the front, so each piece looks like three small shingles. Architectural shingles are a more upscale choice. They are thicker, longer-lasting, and don’t have slits where debris can collect. They also create a more textured look, which many people prefer.

Benefits: Relatively inexpensive, and all roofers know how to install them. Good fire resistance. Some types are suitable for hail regions and available with wind warranties up to 130 mph. May contain zinc or copper to inhibit algae growth.

Drawbacks: Typically last only 20 years and need periodic cleaning to remove moss and debris.

Green factor: Some types have a reflective coating that can lower cooling costs. Though theoretically recyclable, most worn shingles end up in landfills.

Cost per square foot: $2-$4, installed

Average two-story, 2,300 square foot house, including removal of one layer of roofing: $7,000

Wood Shingles and Shakes

Traditional and beautiful, wood is no longer as popular because quality has declined, and because of rising concerns about fire. Shakes are thick and have a rough, split surface; shingles are thinner and sawn flat. Both types must be installed over spaced boards, not solid sheathing, so the roofing can dry.

Benefits: In dry climates, shakes and shingles perform well; some shakes have up to a 50-year warranty. Thicker shakes can be used where hail is severe.

Drawbacks: Not fire-resistant unless treated, so some building codes prohibit them. Thinner products can be damaged by hail. In wet climates, wood must be cleaned periodically to remove moss and lichen.

Green factor: Roof-quality shakes are cut from old-growth trees. Worn-out roofing can be recycled into mulch, provided it hasn’t been treated with pesticide.

Cost per square foot: $5-$12, installed

Average two-story, 2,300 square foot house, including removal of one layer of roofing: $17,200.

Metal Panels and Tiles

Once found mostly on commercial and farm buildings, metal roofing is now the fastest-growing residential roofing material. There are two basic kinds: standing-seam panels and tiles. Panels come in pieces around 16 inches wide and up to 20 feet long, so they reach without a seam from the ridge to the gutters. Metal tiles can mimic the look of wood shingles or shakes.

Benefits: Extremely long-lasting; some come with lifetime warranties. Good fire resistance, and some styles are strong enough to resist wind and heavy hail. Panels go up quickly and require little maintenance.

Drawbacks: Higher initial cost than composition shingles. Tile roofs have numerous grooves that trap leaves, so they need frequent cleaning.

Green factor: Styles with reflective coatings reduce cooling demand by 10% to 15% and can qualify for a federal energy efficiency tax credit of up to $500.

Cost per square foot: $3.50-$11, installed

Average two-story, 2,300 square foot house, including removal of one layer of roofing: $16,800.

Clay or Concrete Tiles

Red clay tiles are an essential feature of Spanish-style homes in much of the Southwest and Florida. In addition to traditional styles, clay and concrete tiles can mimic wooden shingles or shakes, while others look almost like slate.

Benefits: Long-lasting; some manufacturers offer lifetime warranties. Well-suited to relatively dry climates, and will not burn.

Drawbacks: Heavy, so the roof structure must be able to support the weight. They can be damaged by hail. Concrete tiles are moss magnets in damp climates; use glazed tiles instead.

Green factor: Long-lasting clay and concrete tiles can be reused and eventually recycled into new building materials.

Cost per square foot: $5.50-$10.50, installed

Average two-story, 2,300 square foot house, including removal of one layer of roofing: $17,500

Slate

Quarried in the Northeast and Virginia, slate is much more common in the East than in the West. Because slates hang from nails and are not glued down, they are best suited for fairly steep roofs that shed water quickly.

Benefits: Slate can last for decades, doesn’t burn, and sheds snow and rain well.

Drawbacks: Slate is expensive and requires skill to install and repair, which can be an issue where such roofs are rare. The roof structure must be able to support the heavy weight.

Green factor: Slate is a natural material, and slicing it into shingles requires little energy. If a building with a slate roof is torn down, the slates can be reused.

Cost per square foot: $10-$20, installed

Average two-story, 2,300 square foot house, including removal of one layer of roofing: $29,300.

FHA Mortgage Insurance Premiums Have Been Reduced for 2017

Do you plan to use an FHA loan to buy a home in 2017. If so, I have some good news. The Department of Housing and Urban Development (HUD) announced this week that it would reduce the FHA annual mortgage insurance premium (MIP) for 2017. This change will take effect later this month, and it could save homeowners an average of $500 this year according to officials.

In 2017, the annual MIP for most home buyers who use a 30-year FHA loan will be reduced to 60 basis points, or 0.60% of the loan amount. See the table below for details.

Mortgage Insurance Premium Table, and Additional Details

Borrowers who use the Federal Housing Administration (FHA) loan program to purchase a house are generally require to pay two different mortgage insurance premiums, or MIPs. This insurance protects the lender in the result of borrower default.

There’s an upfront premium, usually set at 1.75% of the loan amount.
There’s also an annual premium, which is the one being reduced for 2017.

On January 9, 2017, HUD officials announced they would be lowering the annual mortgage insurance premium rate by 25 basis points, or 0.25%. This is great news for borrowers who plan to use an FHA loan to buy a house, because they could save an average of $500 per year according to HUD.

The revised annual mortgage insurance rate will apply to most new FHA mortgage loans with a closing / disbursement date on or after January 27, 2017.

The table below was published along with the official policy update sent out by HUD on January 9, 2017. You’ll see the reduced mortgage insurance premiums under the “New MIP” column on the right.

The FHA’s MIP tables can be confusing at first glance. But there’s a method to reading them. For starters, you’ll want to find your loan’s term or length. If you’re going to use standard 30-year FHA loan, refer to the top half of the table where it says: “term > 15 years.” Next, use the loan amount column that applies to you. The “LTV” column is essentially the inverse of your down payment. Most FHA borrowers put down 3.5%, since that’s the minimum down payment for the program; so the LTV in this case would be 96.5%.

Bottom line: Most FHA borrowers in 2017 will end up with an annual mortgage insurance premium rate of 60 basis points, or 0.60% of the loan amount.

Pros and Cons of the Program

There are pros and cons to every kind of mortgage loan, and this applies to the FHA program as well. Borrowers who use this program generally encounter the added cost of mortgage insurance.

On the surface, this might seem like a drawback to using an FHA loan to buy a house. But this insurance coverage allows people to buy a home who wouldn’t otherwise qualify for a mortgage loan with such a low down payment.

In order to avoid mortgage insurance entirely, you would have to make a down payment of 20% or more, or use a “piggyback” loan strategy. Thus, the FHA program is a viable option for home buyers with limited funds saved up for a down payment.

You Won’t Use Zillow Again After Reading This

Did you know that by using Zillow you’re missing out on a ton of listings?! National Real Estate Websites focus on Big Geographic Areas and spend most of their money on advertisements making it harder to find accurate information regarding the properties you’re interested in. As a Local Realtor, Buying/Selling/Renting, Market Data, and Neighborhood Resale History are conversations that I have daily. Don’t roll the dice on one of the Largest Financial Transactions you will have by using National Real Estate Websites. If you’re searching for a home and want reliable information you can trust visit my MLS Search at https://ginavillanellrealtor.com/search-mls/ and take advantage of all the properties you won’t be seeing on the other sites!

Questions, Comments or Concerns? Please Feel Free to Contact Me using the ‘Contact’ Button in the upper right corner or to Text/Call (954) 812-2832, I look forward to speaking with you!

Gina

Should I Buy My First Home in 2017?

Happy New Year! Will 2017 be the year you buy your first home? Are you still on the fence about it? Here is some updated information to help you make an informed decision, and to answer the question: “Should I buy my first home in 2017?”

Buying Your First Home in 2017

In most U.S. cities, buying a home makes a lot of sense right now. The housing market is stable, with rising home values reported across the nation during 2016. The job market and the broader economy have improved significantly since the recession years. And in many areas, owning a home is actually more affordable than renting right now.

But these are just the external factors. There are personal considerations as well. You have to make sure buying a home makes sense for you, based on your current financial and lifestyle situation.

For starters, ask yourself the following questions:

Do you plan to live in the area for at least the next few years? If so, buying might make sense for you.
Do you have steady and reliable income right now, with a reasonable expectation for continued employment and income? If so, you can put another check mark in the “buy” column.
Would owning a home improve your quality of life in some way?

If you answered yes to these questions, then 2017 might be a good time to buy your first home.

Mortgage Rates Have Risen

As a first-time home buyer, you should be aware that mortgage rates have risen in recent weeks. In fact, by the last week of December 2016, the average rate for a 30-year home loan had risen to its highest point in more than two years.

At the start of 2017, the average rate for a 30-year mortgage was 4.32%. Analysts with the Mortgage Bankers Association expect rates to rise gradually throughout 2017, possibly reaching 4.7% (for a 30-year loan) by the end of the year.

The point is, if you postpone your home-buying plans until later in 2017, you could end up paying more for a home — and for a mortgage loan. So a strong case could be made for buying sooner rather than later.

I Can Help You Every Step of the Way

I specialize in helping first-time home buyers succeed. I can help you find a home that meets all of your needs, and make a smart offer based on current market conditions. This is the first step to success when buying your first home, and it all starts with market research. This is one of my key skills.

I can help you navigate the complexities of the local real estate market in order to find the ideal home. Please contact me at your convenience so we can talk about your home buying needs.

9 Easy Mistakes Homeowners Make on Their Taxes

Article by HouseLogic By: G. M. Filisko Published: August 12, 2016

Don’t rouse the IRS or pay more taxes than necessary — know the score on each home tax deduction and credit.

As you calculate your tax returns, be careful not to commit any of these nine home-related tax mistakes, which tax pros say are especially common and can cost you money or draw the IRS to your doorstep.

Sin #1: Deducting the Wrong Year for Property Taxes

You take a tax deduction for property taxes in the year you (or the holder of your escrow account) actually paid them. Some taxing authorities work a year behind — that is, you’re not billed for 2013 property taxes until 2014. But that’s irrelevant to the feds.

Enter on your federal forms whatever amount you actually paid in that tax year, no matter what the date is on your tax bill. Dave Hampton, CPA, a tax department manager at the Cincinnati accounting firm of Burke & Schindler, has seen homeowners confuse payments for different years and claim the incorrect amount.

Sin #2: Confusing Escrow Amount for Actual Taxes Paid

If your lender escrows funds to pay your property taxes, don’t just deduct the amount escrowed. The regular amount you pay into your escrow account each month to cover property taxes is probably a little more or a little less than your property tax bill. Your lender will adjust the amount every year or so to realign the two.

For example, your tax bill might be $1,200, but your lender may have collected $1,100 or $1,300 in escrow over the year. Deduct only $1,200 or the amount of property taxes noted on the Form 1098 that your lender sends. If you don’t receive Form 1098, contact the agency that collects property tax to find out how much you paid.

Sin #3: Deducting Points Paid to Refinance

Deduct points you paid your lender to secure your mortgage in full for the year you bought your home. However, when you refinance, you must deduct points over the life of your new loan.

For example, if you paid $2,000 in points to refinance into a 15-year mortgage, your tax deduction is $2,000 divided by 15 years, or $133 per year.

Related: How to Deduct Mortgage Points When You Buy a Home

Sin #4: Misjudging the Home Office Tax Deduction

The deduction is complicated, often doesn’t amount to much of a deduction, has to be recaptured if you turn a profit when you sell your home, and can pique the IRS’s interest in your return.

But there’s good news. There’s a new simplified home office deduction option if you don’t want to claim actual costs. If you’re eligible, you can deduct $5 per square foot up to 300 feet of office space, or up to $1,500 per year.

Sin #5: Failing to Repay the First-Time Homebuyer Tax Credit

If you used the original homebuyer tax credit in 2008, you must repay 1/15th of the credit over 15 years.

If you used the tax credit in 2009 or 2010 and then within 36 months you sold your house or stopped using it as your primary residence, you also have to pay back the credit.

The IRS has a tool you can use to help figure out what you owe.

Sin #6: Failing to Track Home-Related Expenses

If the IRS comes a-knockin’, don’t be scrambling to compile your records. File or scan and store home office and home improvement expense receipts and other home-related documents as you go.

Sin #7: Forgetting to Keep Track of Capital Gains

If you sold your main home last year, don’t forget to pay capital gains taxes on any profit. You can typically exclude $250,000 of any profits from taxes (or $500,000 if you’re married filing jointly).

So if your cost basis for your home is $100,000 (what you paid for it plus any improvements) and you sold it for $400,000, your capital gains are $300,000. If you’re single, you owe taxes on $50,000 of gains.

However, there are minimum time limits for holding property to take advantage of the exclusions, and other details. Consult IRS Publication 523. And high-income earners could get hit with an additional tax.

Sin #8: Filing Incorrectly for Energy Tax Credits

If you made any eligible improvements in 2015 and 2016, such as installing energy-efficient heating and cooling system, you may be able to take a 10% tax credit, up to $500. With some systems your cap is lower than $500. For instance, you can only claim $200 on windows. But keep in mind, this is a lifetime credit. If you claimed the credit in any recent years, you’re done.

Installing a solar electric, solar water heater, geothermal, or small wind energy system can also make you eligible to take the Residential Energy Efficient Property Credit.

To claim the deduction, you have to use the complicated Form 5695, which can mean cross-checking with half a dozen other IRS forms. Read the instructions carefully.

Sin #9: Claiming Too Much for the Mortgage Interest Tax Deduction

Taxpayers are allowed to deduct mortgage interest on home acquisition debt up to $1 million, plus they can also deduct up to $100,000 in home equity debt.

This article provides general information about tax laws and consequences, but shouldn’t be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice.

January 5, 2017DIY, News, Real Estate, Taxes, Tipsescrow, gina villanell, points, Real Estate, real estate tips, refinance, south florida, south florida realtors, tax return, taxes, tips[email protected]

Condo Rules and Regulations, HOAs, and Your Holiday Displays

Article by HouseLogic By: Marcia Jedd

Check your condo rules before you put up that menorah or Santa decoration, or you might find yourself taking your holiday decorations down a lot sooner than you planned.

If you’re one of the 62 million Americans living in condo and homeowners associations(HOAs), you don’t get to take a holiday break from condo rules. Humbug, you say? Well…

“A hallmark of a shared ownership community is that you give up some of your rights for the good of the community. If there are restrictions involving holiday decorations, including lights and signage, you’re generally bound by them,” says Ryan Poliakoff, co-author of New Neighborhoods: The Consumer’s Guide to Condominium, Co-Op and HOA Living. After all, one person’s beautiful display is another’s junk.

I want to flout condo rules and put up holiday decorations despite an HOA rule banning them. What’s going to happen to me?

Option 1: Nothing may happen if the HOA rules aren’t enforced.

Option 2: You might get a letter asking you to take down your decor.

Option 3: You might get fined for breaking condo rules.

Constructive ways to balance your need to deck the halls with condo rules that ban decorations:

Talk to your neighbors. If it’s your first holiday in your new home, check your association’s rules and regulations to find out what’s really allowed. Chat with the neighbors, too. Condos that ban lights and signage most of the year may be lenient about decorations during the holiday season. “But do understand these rules and regulations are enforceable by boards of corporations that are created contractually,” Poliakoff says.

Take your holiday case to the board.Call the president and ask if you can speak at the next meeting. Show up with a short written proposal to modify the HOA rules to allow specific kinds of decorations, like lights on balconies or door wreaths.

“Don’t criticize or start calling anyone names. Suggest to your board they amend their rules to allow for holiday decorations within limits,” Poliakoff says. Offer to write an email or letter outlining a holiday decorating exception that runs during a set period like Dec. 15 to Jan. 1.

Check state laws on condo rules. Got no satisfaction from your trip to the condo board? You might be able to appeal to a higher authority. Some states have a large body of home owners association laws that may override HOA rules in certain instances, while other states have few home owners association laws.

“There are laws in some states that do allow the display of items such as religious items or wreaths,” Poliakoff says.

If you can argue state law, sharing a copy of the law with the condo rule-makers may get them to change their minds about holiday decorations. If it doesn’t, you can consult a lawyer to find out about how much it will cost to sue your condo board to force it to follow state laws.

Bottom line: Living in a shared association is about give and take. And you’re always free to decorate your home’s interior as you like.

4 Dazzling Home Holiday Light Shows: They Cost HOW Much?!

Article From HouseLogic.com Published: December 29, 2010

HouseLogic calculates the electricity costs of four very ambitious home Christmas light displays—using conventional lights and then electricity-saving LEDs.

For many home owners, decorating for the holidays is a chance to share holiday joy with their neighbors, friends, and anyone else who drives by—or flies over in an airplane. But it also can be quite a costly undertaking. Safety concerns notwithstanding, holiday lights are notorious power leeches that take a toll on your electric bill.

To demonstrate, HouseLogic used the average price per kWh in each home’s region to roughly calculate the dollar damage sustained by some of the more extravagant Christmas light displays (assuming each bulb was the average 5 watt C7 bulb). And just for fun, we did rough estimates of energy bill savings if all the lights were LEDs. While LEDs are more expensive than traditional bulbs to purchase, they use up to 90% less energy and last a lot longer.

Noel, times a million

In Delaware, 1,000,000 twinkling lights signal the start of the holiday season. You read that right–one million! The Faucher family has been slowing traffic to a crawl with their home Christmas display for about 25 years with this ambitious and breathtaking endeavor.

Estimated cost: $686/hour; keeping them lit for 4 hours a night over 30 days (about a month) adds up to $82,320.

Estimated cost using only LEDs: $89/hour; $10,680/month

Possible electric bill savings: $597/hour; $71,640/month.

A wired wonderland

This home located on Balboa Island in the middle of Newport Harbor, Calif., draws thousands of viewers from all over every year—including visitors who travel by boat! An electronically bedazzled feast for the eyes, the Zimmerman house uses 25,000 lights (digitally synchronized to Christmas songs), to bring its glowing treasures to life–including blinking candy canes, bells, snowflakes, and a 25-foot tree.

Estimated cost (lights only): $19/hour; keeping them lit for 4 hours a night over 30 days adds up to $2,280/month.

Estimated cost using only LEDs: $2.50/hour; $300/month.

Possible electric bill savings: $16.50/hour; $1,980/month.

Next stop: Santa’s Toy Shop

For nearly 40 years, Dick Norton and his family in Burbank, Calif., have pulled out all the stops to create this winter wonderland, complete with a combination of digital displays and analog props, including a North Pole Express train that emits steam, an animated merry-go-round, Santa’s Toy Shop, and 10,000 lights. The display is a thing of wonder to be sure, but paying for the juice to run the elaborate attraction — even with the inclusion of a few LEDs — probably isn’t as wonderful.

Estimated cost (lights only): $7.50/hour; keeping them lit for 4 hours a night over 30 days adds up to $900/month.

Estimated cost using only LEDs: $1/hour; $120/month.

Possible electric bill savings: $6.50/hour; $780/month.

40,000 and counting

The Lagerstrom family’s obsession with Christmas lights started back in 2002 with 4,000 lights. This year they plan 45,000. And the Lagerstroms, from Canada’s British Columbia, don’t plan to stop there, with an ultimate goal of 250,000 lights. They also are in the process of switching to LEDs, which will lower their costs as we estimate here.

Estimated cost (this year, if all incandescent): $17/hour; 4 hours a night for 30 days comes out to $2,040.

Estimated cost using all LEDs: $2/hour or $240 for the month.

Possible electric bill savings: $15/hour or $1,800 for the month.

Green alternatives

The Holdman family display in Pleasant Grove, Utah, uses about 150,000 lights and is 100% wind powered. But if you expect to see a giant wind turbine in their front yard, look again. The Holdmans use renewable energy credits (RECs), which put power back on the grid from a wind energy facility.

Another green solution is Christmas light timers. Having an automatic shut-off time can prolong the lifespan of your lights, and ensure that you don’t over-expend energy.

Solar Christmas lights are another way to go. They rely on a solar panel to absorb sunlight during the day. When the sun goes down, the lights automatically come on.

December 21, 2016Holidays, Newsbudget, christmas lights, cost, gina villanell, house, Real Estate, real estate agent, real estate blog, tips, villanell sells[email protected]

How Do HOAs Work?

When you purchase a home, there’s a good chance you’ll have to pay a homeowners association fee, especially in gated communities, townhouses, condominiums, and other similar planned neighborhoods. The idea is to keep common areas clean and maintained, and there’s usually an HOA board that is responsible for setting the rules and regulations.

Each HOA is different, but most have the same core elements. You’ll typically pay your HOA fees either monthly or annually, and it’s an important factor to consider when you’re weighing your options for a new home. So what is typically included in your HOA fees?

First, the fun stuff Amenities are typically the big perk of living in a community with an HOA. While you lose out on some of the freedom of living without an HOA, you instead get community amenities like a maintained pool, gym, clubhouse, tennis courts, and other amenities. The HOA fees pay for cleaning and maintenance, so—in theory—you’ll always have a clean pool whenever you want to use it.

Protecting the community HOA fees often contribute to insurance for the community amenities, as well as a fund for unexpected repairs to damaged community property—think damage from weather or accidents.

General maintenance Your HOA fees will go toward maintaining the general safety and upkeep of the community. This means things like elevator maintenance for condominiums, snow removal, and trash/recycling services.

Be active in the association There may be a board of directors, but homeowners associations exist for the betterment of the entire community, and every voice matters. HOA meetings—and the amenities they support—provide great opportunities to meet your neighbors and make your community a better place.

December 8, 2016Newsfees, gina villanell, hoa, house, how it works, news, Real Estate, real estate agent, south florida[email protected]