April 27, 2025 - 16:59
When searching for a new home, potential buyers frequently focus on the price and mortgage options, but there are two critical factors that are often overlooked in real estate listings: flood-zone status and homeowners association (HOA) dues.
Understanding whether a property is located in a flood zone is crucial, as this can significantly affect insurance rates and overall safety. Properties in these areas often require additional flood insurance, which can add substantial costs to homeownership. Failing to disclose this information can lead to unexpected financial burdens for buyers.
Additionally, many listings neglect to mention the dues charged by HOAs. These fees can vary widely and may cover amenities, maintenance, and other community services. Buyers should be aware of these costs upfront, as they can impact monthly budgets and overall affordability.
In summary, potential homeowners should conduct thorough research beyond the listing price to ensure they are fully informed about all associated costs before making a purchase.
