What questions should I ask about HOA fees before buying a condo or townhome?

HOA dues are a permanent line item that lenders count in your DTI, so treat them like part of the mortgage. Ask for the current monthly fee and its increase history, the reserve study showing whether the association is funded for big repairs, and whether any special assessments are pending — those can be thousands per owner for a new roof or elevator. Request the CC&Rs and rental restrictions if you might lease it later. Underfunded reserves are a red flag because they signal future special assessments or fee spikes. Read the association's financials and recent meeting minutes. Add the full HOA fee to your affordability math at wealthserene.com/tools/home-affordability, since a $400 dues bill materially shrinks the price you qualify for.