Comparing homes
HOA or no HOA
The true monthly cost of a home with an HOA next to one without, once you count what the dues cover and what you would pay for yourself.
Behind the numbers
How it works
Same loan terms
Each home gets the same rate, down payment percentage and tax rate, so the difference comes from the homes, not the loan.
Everything monthly
True monthly cost = principal and interest (30 years) + property tax + insurance ÷ 12 + HOA dues + assessments set aside + upkeep + services and amenities you pay for yourself.
What is left out
Mortgage insurance, utilities you would pay either way, and any difference in resale value.
Adjust it
What each input means
| HOA dues and assessments | From the HOA’s budget. Ask about any planned or recent special assessments. |
|---|---|
| Insurance | Some HOAs insure the exterior, so the owner’s policy can cost less. Get quotes for each home. |
| Upkeep and services | What you would pay yourself for what the HOA covers. |
When to use it
Made for
- Two homes on the short list, one with an HOA
- Townhome or single-family
- Reading an HOA budget before an offer
Buying
Choose the part of town that fits your life first: golf, trails, dining, space, views. Then be first to the right homes, sent to you personally by Morgan.
- Find your area
- Backyard sun (optional)
- Your search
- Your plan
Questions
Good to know
What should I ask an HOA?+
What the dues cover, how healthy the reserves are, whether any special assessments are planned, and the rules on rentals, pets, parking and changes to the home.
Are HOA dues fixed?+
No. Boards can raise dues and add assessments. The budget and meeting minutes show how often that has happened.
Keep planning
Related tools
Buying budgetWhat your payment buysFrom a monthly budget to a price range, with rate, taxes, insurance and HOA all counted.Open →
Comparing homesNew build or resaleThe real price of a new build next to a resale home, with upgrades, what is not included, and the wait.Open →
The yearly billProperty tax estimateYour yearly and monthly property tax from your own local rate, assessment and exemptions.Open →Want Morgan’s eyes on it?
Send your numbers and she will review them personally, with real figures for your area.