How healthy is your HOA?

Part 2: Avoiding the bad condo blues

Before buying a condominium, one of the most important areas to investigate is the financial health of the Homeowners Association (HOA). It’s important to know the financial health of the HOA.

Part 1 of this series looked at two important questions to ask if you are purchasing a condominium: "What type of ownership are you purchasing?" and "What obligations and restrictions do the CC&Rs (covenants, codes and restrictions) place on you?" A third equally important issue deals with your HOA Dues.