Here are the pros and cons of living within an HOA community.
Today I’m sharing the pros and cons to HOAs, or homeowners associations. These are the things to keep in mind if you’re considering buying a home located within one:
Pros to HOAs:
1. Neighborhood upkeep. For example, if a neighbor needs to mow their lawn or paint their fence, the HOA will encourage them to keep the property up to par, which keeps the whole neighborhood looking nice and raises the value of all the homes.
2. Amenities. Many HOAs have inground pools, community buildings, walking trails, tennis courts, and provide other services. Many people want to live in an HOA just for the amenities.
3. Shared maintenance. When things need to be done to common areas such as fixing the pool or removing snow from the streets, people share the maintenance duties.
4. Built-in mediation. Let’s say you’re having a dispute with a neighbor because the limbs of their trees are drooping into your yard, you can ask the HOA to mediate so you can keep a good relationship with that neighbor.
5. Meet more neighbors. HOAs have monthly community meetings and host events, so it’s a great place to make new friends.
Cons to HOAs:
1. Dues. This money supports all the amenities, and you’ll continually pay them as long as you live there.
2. Limitations. HOAs have certain limitations; for example, you may only be allowed to have specific types of fences, or you may not be allowed to park your boat in your driveway. However, these things help keep up the attractiveness of the neighborhood.
3. Rogue board members. Sometimes an HOA board member will be a little difficult. However, in most HOAs, the board members are elected every year, so if one is challenging to deal with, they may not be there long.
So there are positives and negatives to living in an HOA community. As you’re looking to buy a house, ensure it fits your lifestyle.
I’m here to help if you have any questions or real estate needs. Simply call or email me today.