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(1)In some cases, increases in HOA fees and property taxes could even make a home that was once within your budget suddenly unaffordable.Imagine the case of Mark, a father of two who has recently gone through a divorce. He had to refinance his mortgage in order to remove his ex-wife from the title to his home. As a result he is now paying a higher interest rate on his mortgage.What’s worse, his HOA fees are skyrocketing from a manageable $150 a month to $400 a month after the homeowners’ association passed a special assessment. Mark’s property taxes also recently increased, adding another $200 a month to his expenses.He bought his home for $430,000 and given the increase in expenses, he wants to sell. However, other homes in his development are currently languishing on the market for weeks and weeks.Here are some steps he might take to get his finances back on track in the face of these new expenses.Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's howDave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and 3 simple steps to fix it ASAPI’m almost 50 years old and have nothing saved for retirement. What do I do? Don’t panic. Here are 6 easy ways to catch up (and fast)A homeowners’ association (HOA) is made up of volunteer homeowners within a real estate development, typically condominiums, townhomes or single-family homes.The association sets and enforces rules for the development, and oversees shared spaces and amenities, collecting fees for shared expenses like improvements to the overall property or neighborhood.According to HomeLight, average monthly HOA fees in the U.S. are $390 — that’s $4,680 a year. If a homeowner doesn’t follow the HOA’s rules, or refuses to pay their fees, the HOA can fine them, and may even be able to place a lien on the property. (2)In addition to increasing the financial burden of homeownership, HOAs are also becoming more common. According to U.S. Census Bureau data, in 2024, 81% of new single-family homes sold belonged to homeowners’ associations. (3)An April report from Realtor.com found that property taxes in the U.S. are also going up as home values increase. The report found that the median property tax bill for 2024 was $3,500, an increase of 2.8% from 2023. 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