Community associations continue to grow and thrive across the U.S. According to our latest estimates over 56 million Americans live in over 285,000 condominiums, homeowner associations, co-ops, and other community living arrangements nation-wide, with 8,000 to 10,000 new communities being built each year.
Community associations offer a wide variety of benefits that vary from community to community, including amenities such as golf; tennis courts; and aquatic facilities, along with reduced maintenance requirements, and more consistent property values. In many areas of the country, community associations also represent some of the best lower income housing opportunities.
But regardless of where you live or what type of home you are considering - you need to be an educated consumer in order to make a purchase decision that is right for you and your family. While some states have very comprehensive disclosure laws regarding the information a seller must disclose to a buyer regarding a home in a community association, other states have very limited or no such requirements. That is why buyers must know what questions to ask of their Realtor and the seller before signing on the dotted line.
That is why CAI has put together "Community Matters - What You Should Know Before You Buy". This free brochure highlights some of the unique aspects of living in a community association and identifies some of the key questions that prospective buyers should be asking, such as:
How much are assessments and when are they due?
What is the annual budget and how does it compare to similar communities?
Does the community have a viable reserve to fund major, long-term maintenance and repairs?
Download your free copy today and help make yourself a more informed consumer.

