Breckenridge Real Estate Blog

Homeowners associations play a vital role in running a condominium project.  They are in charge of exterior repair, maintenance, and manage a substantial portion of real estate projects in the Colorado Rocky Mountain ski resorts of Breckenridge and Keystone.  Buyers of properties in Summit County, referred to as Colorado’s playground, are seeking “maintenance free” second homes and vacation real estate. 

Therefore, HOAs for Breckenridge real estate come in very handy.  They arrange for seasonal services, contract for competitive bulk rates, use the clout of numbers to defend the property owners, take care of structural and exterior repairs, replace aging roofs, siding, gutters, etc., allowing owners and guests to remain a step removed from the details.

Nonetheless, it behooves every buyer to discover all of the property restrictions and requirements imposed by the affiliated HOA before closing. The Colorado contract allows time to review such documents.  In single-family home developments, HOAs facilitate new building projects.  Some also require approval for remodeling, additions, and landscaping changes.  Many HOAs include an Architectural Review Committee that enforces building guidelines and approves all plans. This helps protect your investment and the overall neighborhood environment.

During a real estate transaction you will be able to obtain declarations, bylaws, rules and regulations, financials, Profit and Loss, and prior HOA meeting minutes to review, in order to obtain background information on the property you will be purchasing.  In Summit County, Breckenridge your broker will be able to obtain information for home and unit sales and renter occupancy.

It is in everyone’s best interest for HOAs to ensure that buyers understand their guidelines.  Some are more proactive about it than others are.  Buyers and their real estate agents should investigate the title record and HOA restrictions regardless.  Those buyers who want to be more involved in decision-making about repairs and contractors should definitely read and agree to all of the details before closing.  Otherwise, they must trust the HOAs to walk that fine line, operating with the best interests of all parties in mind.  HOAs are actually doing an excellent job in our beautiful mountain towns. 

Jonna Beardsley of Breckenridge Associates offers a wealth of information about real estate in the Rocky Mountains.  Call Jonna at (970) 453-2200 for friendly, professional assistance.