If you're under contract on a home in Preston Village, you've probably noticed the HOA dues are smaller than what you'd pay a few streets over in Amberly, and smaller still than a country club membership at Prestonwood. That number tends to read as reassurance. Low dues, low drama, one less thing to think about before closing.
That read is backwards. Preston Village's dues are modest because the neighborhood pays for its own pool, clubhouse, lake, gazebo, and picnic area directly, without a golf course or a fitness center spreading the cost across a bigger membership base. The community was platted in 1996, which means the amenities funded by that quarterly assessment are now roughly thirty years old. A smaller number covering older infrastructure is not automatically a problem. But it's exactly the kind of detail that shows up in one specific piece of paperwork, and North Carolina law only requires a fraction of that paperwork to exist.
The Low Number Nobody Should Read As Good News
Preston Village sits inside the larger Preston area but runs its own homeowners association, separate from Prestonwood Country Club membership. That structure is worth understanding on its own terms. In Amberly, monthly HOA fees commonly run in the $175 to $225 range and fund a resort-style pool, a 3,500 square foot fitness center, and tennis and pickleball courts. Nearby MacGregor Downs, where club membership is optional and separate from the HOA, typically runs lower, in the $100 to $160 monthly range, because the association itself only maintains common areas and entrances.
Preston Village's own assessment has historically undercut both. A 2018 community summary put it at $161 per quarter, a figure that's almost certainly out of date by now and shouldn't be treated as current. That's the point worth sitting with. If a published number from years ago is the only figure you're working from, you don't actually know what you're agreeing to fund. You know what someone else's HOA charged once. The current assessment, and whether it still comfortably covers pool resurfacing, clubhouse upkeep, and lake maintenance on a three-decade-old amenity package, lives in a document you have to specifically request.
What North Carolina Actually Guarantees You'll See
Here's the part that catches a lot of buyers off guard, including plenty who've bought in other states with more formal disclosure rules. North Carolina's Planned Community Act requires very little on its own. The only document an association is statutorily obligated to produce is a brief statement confirming whether the seller owes any unpaid assessments, fines, or other charges. State law caps the cost of that statement at $200, with an optional $100 rush fee if you need it fast.
Everything beyond that, the reserve fund balance, the current operating budget, insurance coverage, minutes noting any planned capital projects, isn't legally mandated at all. Title companies and lenders typically request a broader package anyway, because closing without it is its own risk, but that package is a market convention, not a statute. Costs for it commonly land in the $200 to $400 range, sometimes more depending on the association's size and how organized its records are.
| What you're guaranteed | What you have to ask for |
|---|---|
| Statement of unpaid assessments (capped at $200, plus $100 for rush) | Current reserve fund balance |
| Confirmation of any liens on the property | Copy of the most recent budget |
| Notes on planned special assessments or capital projects | |
| Insurance coverage details | |
| Governing documents and any pending litigation |
If you only ask for the legal minimum, you'll learn whether the seller owes money. You won't learn whether the association has enough set aside to repair a clubhouse roof or resurface a pool deck that's been in continuous use since the Clinton administration.
Why Preston Village's Age Changes What That Paperwork Needs To Say
This is where the neighborhood's specific history matters more than it would in a newer community. A homeowners association formed in the last five years hasn't had time to defer much. One closing in on three decades has usually faced at least one round of major repairs, and the question isn't whether those repairs happened, it's whether they were funded from reserves that were built up in advance or from a special assessment that landed on whoever happened to own the home that year.
A quarterly bill that's stayed low for years can mean careful budgeting. It can also mean a reserve fund that's been running thin, with the next big expense waiting to become someone else's surprise.
There's no way to tell which one you're looking at from the dues amount alone. The resale package is where that distinction actually gets made, in the reserve study, the recent meeting minutes, and any line item flagging upcoming work on the pool, the clubhouse, or the lake area. Ask specifically whether the association has a reserve study on file at all. Some smaller, self-managed associations don't, and that absence is itself useful information.
Getting The Timing Right Before You Close
Because the fuller resale package isn't required by statute, timing and delivery aren't standardized either. Your purchase contract will typically set a deadline for when the seller needs to provide it, and if it arrives late, you may have grounds to push the closing date rather than close blind. That only works if the deadline is actually written into your contract and if someone is tracking it.
A few things worth confirming with your agent or closing attorney as soon as you're under contract:
- Who is ordering the resale package, and has the request gone out yet
- What the contract deadline is for delivery, and what happens if it slips
- Whether the reserve fund balance and any planned assessments are explicitly included, not just the unpaid-dues statement
- Who is paying for the package. Sellers typically cover this cost in North Carolina, though it's negotiable and worth confirming in writing rather than assuming
None of this is abstract. Homes in the broader Preston area, which includes Preston Village, carried a median sale price of about $1.25 million as of mid-2026, up sharply from the year before, and typically sold within roughly five to seven weeks of listing. At that price point, a delayed closing or an unexpected special assessment isn't a rounding error. It's a conversation worth having before you're at the closing table, not during it.
For general background on how North Carolina treats homeowners associations, the state Attorney General's office maintains a plain-language consumer guide to HOA rights and rules that's worth a read regardless of which Cary neighborhood you're buying into.
A Few Questions Worth Asking Directly
Is the resale package the same thing as North Carolina's due diligence fee? No. The due diligence fee is a separate payment made directly to the seller for the right to inspect and potentially walk away from the deal. The resale package is HOA-specific documentation about assessments, reserves, and governing rules. They run on separate tracks and separate deadlines.
Who typically pays for the resale package in North Carolina? Convention has the seller covering it, since the seller is the one requesting records from their own association. It's negotiable, though, and worth spelling out in the contract rather than assuming.
What if Preston Village's HOA doesn't have a formal reserve study? That's not unusual for a smaller, self-managed association, but it's worth knowing either way. Ask directly rather than assuming one exists, and factor the answer into how closely you review recent meeting minutes for any mention of deferred maintenance.
If you're weighing a home in Preston Village against something in Amberly, MacGregor Downs, or elsewhere in Cary, and want a second set of eyes on what a specific HOA's paperwork is actually telling you, Living in Cary works through this kind of detail with buyers and sellers across the Triangle every week. Reach out to schedule a complimentary neighborhood consultation before your due diligence clock starts running.
