Alan Larrabee - Windham Real Estate, Londonderry Real Estate, Litchfield Real Estate


While they have become ubiquitous with the emergence of suburban neighborhoods and townhouses, homeowners associations (HOA, for short) are a relatively new phenomenon.

In modern America, there are many ways to live: apartments, condominiums, houses, townhouses, and now even “tiny houses” are gaining traction. But it wasn’t until the late 1900s that property owners began to experiment with alternative ways of living that revolved around share, “common spaces.”

What constitutes a common area?

Whether you live in an apartment, a house, or in your RV you likely experience common areas every day that are owned by the government. Roads, bridges, and parks are all common areas in that they are used by multiple people and their upkeep is paid for with taxes.

If you take that analogy and apply it to the greenways and lobbies of a condominium, or the streets and sidewalks of a gated community, there are few differences.

What is a homeowners association?

When a developer plans a new community they will often create a homeowners association that will be managed by the people who move into the houses or condominiums. Once a certain number of people have moved into the development and joined the HOA the developer will typically hand over ownership to the HOA and relinquish their legal rights and responsibilities of the land. From there, the HOA typically has complete control over management. Though it should be noted that states have their own HOA related laws with varying levels of oversight.

What does an HOA do?

The most common thing we associate with HOAs is fees and rules. People who move into a community governed by a homeowners association are typically required to join the HOA and are therefore obligated to pay fees and adhere to the guidelines set down by the HOA board.

The fees you pay will go towards maintenance and development of the common areas of your community. That usually amounts to landscaping, maintaining pools and fitness complexes. Fees can range from anywhere between $200 and $450 per month depending on where you live.

HOAs also enforce regulations that homeowners must follow. These vary depending on the community but often include building restrictions for things like fences and additions, as well as other ways that homeowners can customize their homes such as paint and vinyl color. Some homeowners associations go so far as to regulate whether or not a homeowner may fly the flag on their favorite sports team over their door.

Advantages and disadvantages

So what are the advantages and disadvantages you can expect when you belong to a homeowners association? Let’s start with the clear disadvantages. If you are a tinkerer or someone who relishes the freedom to do what they want with their property, living in an HOA-run community might not be right for you. If your salary isn’t quite what you’d like it to be, the cost of living in an HOA neighborhood, along with the monthly fees, might be a bit more than you’re comfortable with.

What about the advantages? First, you can expect that the neighborhood will be well-maintained. This brings about another advantage in that you can expect your property value to grow or at least remain stable thanks to the quality of the neighborhood being carefully managed.



62 Moose Hollow Road, Danville, NH 03819

Single-Family

$349,900
Price

3
Bedrooms
7
Rooms
2
Baths
CUL-DE-SAC NEIGHBORHOOD | BEAUTIFUL COLONIAL | Luxury, elegance and craftsmanship are all hallmarks of this exquisitely maintained & landscaped home. Complete with 7 rooms, 3 bedrooms, 2 full baths and countless amenities. Throughout the home you will enjoy fine features and details such as beautiful hardwood & tile floors, window treatments, & lighting. This home has been well maintain and has impeccable dcor. The open concept floor plan lends itself to accommodating full scale entertaining and the casual family lifestyle. The first floor features an updated kitchen with stainless steel appliances & granite counter tops opening to a dining room and flowing into a huge family room with a fireplace an attached bright & cozy 3 season porch with a large 14 x 22 composite deck. The upper level offers an good size master bedroom with a large walk-in closet, and two additional spacious bedroom and full bath. A fabulous farmers porch with composite decking over looking the lush flower gardens and fabulous landscaped yard with mature plantings with an irrigation system. A custom, maintenance free, composite fence, fire pit, water fountain, is accompanied by ornamental river rock and numerou, custom block walls to project an estate like setting. This home is sure to exceed your expectations! Make this the perfect place to call HOME!
Open House
No scheduled Open Houses




This Condo in Pelham, NH recently sold for $369,900. This Colonial style home was sold by Alan Larrabee - Coco, Early & Associates.


9 Oriole Circle, Pelham, NH 03076

Condo

$369,900
Price
$369,900
Sale Price

2
Bedrooms
7
Rooms
2/1
Full/Half Baths
Home is in the process of construction. Still time to make your own selections! Gorgeous 55+ development with many value added items included! Hardwood flooring, central a/c, 2 zone heating/cooling, first floor master bedroom with private bath, 1st floor laundry, full basement, 2nd floor featuring a large den, home office, 2nd bedroom and full bath! Great place for guests or live in care takers. BEST VALUE AROUND!




A fixed-rate mortgage (FRM) offers one of many financing options for homebuyers. It enables homebuyers to lock in an interest rate on a home loan and pay a set amount each month for the life of a mortgage. As such, an FRM remains a popular option for homebuyers across the United States.

Ultimately, there are many benefits to choosing an FRM, including:

1. Easy Budgeting

With an FRM, your mortgage payments will always stay the same. Thus, after you get approved for an FRM, you can budget accordingly.

An FRM often serves as a great option for homeowners who struggle to maintain a budget. It ensures your mortgage payments will never rise or fall for the life of your loan, which may make it easier for you to map out a weekly, monthly or annual budget.

In addition, an FRM will stay intact regardless of market conditions. This means you won't have to worry about your mortgage costs rising even if interest rates increase nationally.

2. No Price Fluctuations

An FRM minimizes headaches for homebuyers, and for good reason. After you agree to FRM terms with your lender, you will know precisely what you'll be paying for your home.

Comparatively, an adjustable-rate mortgage (ARM) may be difficult for homebuyers to understand. This type of mortgage may fluctuate over time, which means the amount you pay in the first few years of your loan could escalate.

For example, a 5/1 ARM ensures that your interest rate will remain intact for the first five years of your loan. After the initial period, the interest rate may change annually. As a result, your monthly mortgage payments may fluctuate over the life of your loan.

3. Simple to Understand

Your lender will be able to outline the terms of an FRM with ease, as this type of mortgage ensures an interest rate is set in stone until your loan is paid in full. Plus, after you receive an FRM, you can focus on what's important – acquiring your dream home and enjoying this residence for years to come.

With an ARM, the interest rate for your loan may move up and down over the years. The factors that cause the interest rate to fluctuate are based on numerous market factors as well. Therefore, it can be tough to plan ahead for your monthly mortgage payments due to the fact that various factors may impact your loan's interest rate.

Determining whether an FRM is right for you can be challenging. Thankfully, banks and credit unions can define all of your home financing options and respond to any concerns and questions.

Furthermore, your real estate agent may be able to put you in touch with lenders in your area. This real estate professional also is happy to offer tips and recommendations to ensure you can get the financing you need to secure your dream house.

Examine all of your home financing options closely, and you should have no trouble obtaining a home loan that matches your budget.



16 Jackman Ridge Road, Windham, NH 03087

Single-Family

$569,900
Price

4
Bedrooms
9
Rooms
2/1
Full/Half Baths
This beautifully, well maintained home shows pride in ownership. The 4 bedroom, 2 1/2 bathroom home with a 2 car garage sits on a 2.67 acre lot in a desirable Windham neighborhood. Set back from the street this home eludes a private estate setting. Spacious and upgraded throughout, this home is sure to exceed expectations of any home buyer(s). A Beautifully designed open 1st floor with all hardwood, custom woodwork and beautiful 2 story foyer with maple stairs & Bronze Chandelier. Kitchen boast SS appliances, maple cabinets and Corian counters and flows into a dining area family room with a gas fireplace. The open floor plan is great for family events and entertaining. The upstairs consists of 3 good size bedrooms and a master suite with private bath and a BONUS ROOM. The perfect rec room/game room or use as the 5th bedroom. Need more space? There's plenty of additional space to finish in the walk out basement. An updated deck provides plenty of room for grilling, entertaining or simply enjoying your private back yard views. Other features include lawn irrigation system, generator hook-up, 1st floor washer & dryer hook-up, Brick paved walkway, and Wrap around farmer porch. This is a true gem, and a must see!!! Showings start on 7/22.
Open House
Saturday
August 11 at 12:00 PM to 2:00 PM
Cannot make the Open Houses?
Location: 16 Jackman Ridge Road, Windham, NH 03087    Get Directions