Hoa

Laura asks…What is a reasonable funding percentage for an HOA reserve fund?I am considering buying a townhouse with very little reserves (~20% funded). In the California Bay Area, what is a considered "healthy" level of funding? What is the norm? My fear is that special assessments will be made to pay for upkeep of the community, on top of already high HOA dues.Anne answers:That percentage indicates a high likelihood of special assessments. Even if you aren't hit with a special assessment, there may be a push by the board to get the reserve funding to an acceptable level, which in turn

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