# HOA

> A homeowners association runs a neighborhood's or a condo's shared spaces and rules, paid for by dues from every owner.

By David Knorr, founder of BuyWise Home. Last reviewed October 28, 2026. Web page: https://www.buywisehome.com/guide/glossary/hoa

## Why it matters to you

Dues add to your monthly cost and can rise. Associations can also charge a one-off special assessment for big repairs. Read the rules, the budget and the latest meeting notes before your due diligence ends.

## Related

- [Step 1: Am I ready to buy?](https://www.buywisehome.com/guide/ready-to-buy)
- [Closing costs](https://www.buywisehome.com/guide/glossary/closing-costs): Fees paid at closing on top of the down payment, often 2%–5% of the price.
- [Escrow](https://www.buywisehome.com/guide/glossary/escrow): Money held by a neutral party until the deal closes, and later, your tax and insurance account.

_General information based on the standard Georgia REALTORS® purchase contract and public guidance. Your own contract decides: read it, and ask your agent or closing attorney about anything that matters. Not legal or financial advice._