What is an HOA Reserve? - Magic Minute Season 3
What is an HOA reserve? I know, I know… it can seem like a snore. But you have to know this stuff!
Homeowners’ Associations are the governing bodies that help make sure there’s not a meth lab next door to your home or a punk band on the tenth floor of your condo.
The HOA reserves are there for when things like a leaky roof or other big problems arise. And as buyer’s agent, I like to see about 25K per unit in reserve. That helps your buyer feel safe, should something come up!
May not be the sexiest topic, but we need to know it all!
Thanks for being here ❤️ Pete