Why the HOA matters as much as the unit
When you buy a condo, you're buying two things: your home, and a share of a building run by a homeowners association (HOA). The unit's finishes are easy to see on a tour. The association's finances, rules, and upkeep are not, yet they shape your monthly costs, what you can do with your home, and how the building ages.
In downtown Bellevue, where many buildings offer similar-sounding amenities, these behind-the-scenes details are often what separate one building from another. The questions below will help you compare buildings with clear eyes. If you're still deciding which buildings to consider, start with the downtown building guide.
Questions about money: dues, reserves, and assessments
- What do the monthly dues include? Common inclusions are building insurance, water and sewer, garbage, common-area utilities, staff, and amenities. Some buildings include more; some include less.
- How have dues changed over time, and is an increase planned? The current budget and recent minutes usually tell the story.
- What does the latest reserve study say? A reserve study estimates what major components (roofs, elevators, mechanical systems, building envelope) will cost to repair or replace and when. Ask whether the association is funding reserves according to the study's plan.
- Are there any special assessments? Ask about assessments that are current, approved for the future, or being discussed by the board.
- What is the master insurance deductible? If a loss happens, owners may be responsible for part of the deductible. Your own condo (HO-6) insurance should be chosen with this in mind.
- Is the association involved in any litigation? Lawsuits can affect finances and, sometimes, financing options for buyers.
Questions about the building itself
- What major projects have been completed recently, and what's coming up? Think elevators, roofs, windows, garage, mechanical systems, and exterior envelope work.
- Is there any history of water intrusion or envelope repairs? In the Pacific Northwest climate, this is worth asking about in any building.
- Who manages the building? Professional management, a self-managed board, or a hybrid. Ask how long the current manager has been in place.
- How are maintenance requests handled? Owners' experiences, and the tone of meeting minutes, can be revealing.
Questions about rules and lifestyle
- Rentals: Can you lease the unit? Are there minimum lease terms, rental caps, waiting lists, or short-term rental restrictions?
- Pets: Are pets allowed, and are there limits on number, size, or type?
- Parking: How many stalls come with the unit, and are they deeded, assigned, or limited common elements? Is there guest parking?
- EV charging: Is charging available or permitted, and how is electricity billed?
- Storage and bikes: Is there a storage unit or bike room?
- Moving and renovating: Are there move-in fees, elevator reservations, or rules about remodeling hours and flooring?
Questions that can affect your loan
Lenders review the building, not just the buyer. Depending on the loan program, they may look at things like the share of owner-occupied units, how much of the building is commercial space, whether one entity owns many units, the health of reserves, insurance coverage, and pending litigation.
If you plan to use a government-backed loan such as FHA or VA, ask your lender early whether the building meets that program's requirements. Building issues are much easier to handle before you're under contract than after.
Where to find the answers: the resale certificate and HOA documents
In Washington, sellers of condominium units generally must provide buyers with a resale certificate containing key information about the association. Your purchase agreement typically gives you a window to review it. Along with the certificate, ask for or review:
- Declaration, bylaws, and rules
- Current budget and recent financial statements
- The most recent reserve study
- Board and annual meeting minutes
- Insurance summary
- Any disclosure of assessments or litigation
Meeting minutes deserve extra attention. They often show what the board is worried about, months before it shows up in the budget. If something in the documents raises a legal question, a Washington real estate attorney can advise you.
Next steps
Make a shortlist of buildings, then use these questions to compare them side by side. When a unit catches your eye, you'll already know whether the building behind it is a fit. To see how the rest of the process works, read the condo buying guide, or set up listing alerts for the buildings you're watching.
Weighing a townhome or new construction instead? My sister site Bellevue Urban Spaces compares townhomes, lofts, and condos.
This guide is general information, not legal, tax, or financial advice, and details can change. Information is deemed reliable but not guaranteed; please verify anything important for your situation.
Loomis Hamilton is a real estate broker with McConnell Group, helping buyers and sellers in Bellevue and across the Seattle Eastside. MLS ID WA 138027.
(425) 516-2041 · l.hamilton@mcconnellgroup.com · Contact page