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Total HOA Over 10 Years
$55,027
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ℹ️ The $400/mo HOA is equivalent to financing an extra $60,123 on your mortgage — factor this into your buying decision.
How to Use
- 1Enter the home price and your mortgage details.
- 2Input the monthly HOA fee and expected annual increase rate.
- 3Select your projection horizon (5, 10, 15, or 20 years).
- 4Review how HOA fees compound over time and their share of total housing cost.
- 5Use the equivalent principal figure to compare HOA homes to non-HOA homes.
Frequently Asked Questions
What does an HOA fee cover?+
HOA fees typically cover maintenance of common areas, landscaping, community amenities (pool, gym), building insurance (for condos), and a reserve fund for major repairs. Coverage varies significantly by HOA.
Can HOA fees go up?+
Yes. HOAs can increase fees with proper notice (typically annual). Special assessments for major repairs can add hundreds or thousands in one-time charges. Review the HOA's financial statements and reserve fund before buying.
What happens if I don't pay HOA fees?+
Unpaid HOA fees can result in late charges, loss of amenity access, liens on your property, and in some states, foreclosure — even if your mortgage is current. HOA obligations are legally binding.
Are HOA fees tax deductible?+
Not for primary residences. HOA fees on rental properties are deductible as a business expense. No deduction exists for personal use of your primary residence.
How do I evaluate an HOA before buying?+
Request and review: the HOA financial statements, reserve fund study, past meeting minutes, CC&Rs (rules), and any pending litigation. A well-funded HOA (70%+ funded reserve) is a green flag; underfunded reserves mean future special assessments.
This calculator is for informational purposes only and does not constitute financial, legal, or tax advice. Consult a qualified professional before making real estate or financial decisions.