So, you’ve moved into a new neighborhood in Florida, and it’s time to begin paying your Homeowner Association (HOA) fees. But what exactly are HOA fees, and how much do they typically cost? Well, the purpose of an HOA is to represent the community residents and assess and collect fees to help pay for things like the maintenance of common areas, shared amenities, and even sometimes the exterior upkeep of buildings. As a result, the fees can vary widely from community to community depending on what is covered in your HOA fees, with an average being anywhere between $100 and $1,000 per month. If this sounds like a lot, don’t worry – our experts at Evergreen Home Buyers have compiled 5 tips for lowering your monthly HOA fees so you can still enjoy the local amenities without breaking the bank.

1. Ask to See the Budget
The very first thing we recommend is to ask to see the HOA budget. It’s your right as a homeowner to review the HOA budget and ask any questions you may have about it, so requesting a copy and taking some time to familiarize yourself with it is a great place to start.

2. Review HOA Contracts
Although this might be challenging if you’re not on the HOA board, it’s always a good idea to review the current HOA contracts to check for any outdated or overpriced ones. Especially with an older HOA, the contracts might be completely out of whack, meaning it’s important to review and renegotiate these contracts, if possible.

3. Join the HOA Board
If you want to gain even more control over the HOA fees you’re paying as a homeowner, you might decide to join the HOA board to gain further insights regarding the budget. As a board member, you’ll not only stay up to date on the decisions affecting your community, but you can also help with things like finding new contractors if the current ones are overpriced or just having your opinion brought to the table in general.

4. Renegotiate Insurance
Similar to reviewing the contractor contracts, you might be able to help renegotiate the insurance premiums to lessen the expected monthly payments. Insurance is a big part of HOA payments, so although you cannot eliminate them altogether, you can try to renegotiate terms with your current carrier or investigate other insurance providers to lower the monthly HOA fees.

5. Double-Check Property Management Fees
Another significant part of HOA fees is property management fees. Property managers charge a monthly fee to manage the property, so it’s worth reviewing this expense and potentially renegotiating. During the review process, ask yourself questions like: how much is your HOA paying in property management fees? Is this a fair amount? And are there more cost-effective options?

Final Thoughts
Once you’ve circulated through each of these suggestions, hopefully your HOA fees will become more reasonable while still covering everything that needs to be completed in the community. However, if you’ve exhausted all of these options and you’re finding that your HOA fees are still too high and you need to make a change, there is another option.

At Evergreen Home Buyers, we will purchase your home AS IS, making the process entirely hands-off for you with no repairs, inspections, appraisals, or contingencies necessary. Plus, we can close in as little as two weeks! So, for a completely quick and painless way to sell your home for cash faster, visit www.selltoevergreenjax.com today.