When you’re buying a condo for sale in Los Angeles, you’ll most likely have to be part of a homeowners’ association. (Learn about HOAs here.)
Before you buy in a particular building, though, you need to:
- Become familiar with the HOA’s rules
- Decide whether you can live with the HOA’s rules
- Determine how much the HOA dues will cost you
Become Familiar With the HOA’s Rules
Every homeowners association is different, and each has its own set of covenants, conditions and restrictions, or CC&Rs. You can ask your Realtor® to get a copy of the CC&Rs for you if you’re interested in a particular building, or you can contact the HOA yourself and get them.
Can You Live With Those Rules?
When you read the rules, pay special attention to every line. If there are regulations about whether people can come stay with you in your condo, but you have traveling family members that come and stay for several weeks at a time, you may not be able to abide that HOA’s rules. If you have a large dog, but only dogs under 35 pounds are permitted in the building, you might want to look in another building. Every HOA is different and has its own rules – but the good news is that there are several great places to live in DTLA, so even if you can’t live in your first choice of buildings, you may be equally happy in another.
Determine How Much HOA Dues Cost
Every community has different fees, too. You’ll have to find out how increases are set and how much the current annual cost is. Some HOAs charge monthly, while others allow you to pay quarterly or annually. You’ll want to know what your fee includes, too, and what you’ll have to pay on your own; sometimes things like cable, trash pickup and other essentials are included, but not always.
Are You Buying a Condo in LA?
If you’re thinking about buying a condo in Los Angeles or a nearby community, call us at 213-254-7626 or contact us online.
While you’re here, check out our:
- LA Arts District homes for sale
- LA’s Historic Core homes for sale
- Homes for sale in Little Tokyo
- Bunker Hill homes for sale
- City West homes for sale
- South Park – Downtown homes for sale
- Homes for sale in LA’s Fashion District
- Homes for sale in the Los Angeles Financial District