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We Need to Talk About HOA’s & Las Vegas Real Estate

The majority of homes in Las Vegas have Home Owner’s Associations. This can be a benefit or a detriment when shopping for a new home, or selling one. In theory, the HOA will provide at a minimum, protection for your home’s value based on the homes around it being kept up rather than falling to disrepair and negatively affecting your home’s value. In reality, the HOA can be seen as an additional cost to home ownership that can vary in benefit as widely as buying a great or terrible stock of a company. In a way that analogy is very on point, as management of the HOA and it’s assets, legal status and financial standing can cover a wide range.

Using a Realtor who understands HOA’s is a great starting point in helping you find the right community to live in, but now your due diligence doesn’t have to end there. When you buy a home you’ll have an independent, qualified, licensed home inspector verify the condition of the structure and it’s components. You’ll have an independent, qualified, licensed appraiser verify the value of the home. When you buy in a HOA, you’ve previously received a sometimes 500 page resale package delivered to you before you close. It’s really been on you personally to read and interpret the bylaws, restrictions, and financial condition of the association your buying into. Sure a Realtor can give you their opinion of a community’s standing.. but they are not qualified or licensed to interpret legal documents for you.