Are you considering a move into a neighborhood with a homeowners association (HOA) but not sure if it is right for you? A homeowners association is an organization in a planned community, subdivision, or condominium that creates and enforces rules for properties within its control. Read on to see the top 10 reasons to buy property in an HOA.
10. Increased amenities– Do you enjoy walking trails, swimming pools, and community parks? In many homeowner associations, monthly dues are used to build and maintain community amenities. Being a homeowner in a community with an HOA guarantees access to fantastic amenities without having to lift a finger!
9. Amenity maintenance– Garden beds weeded, pool sparkling clean, and manicured common area lawns all happen while you relax. Usually, HOAs do a wonderful job of maintaining their facilities.
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8. Rules and regulations prevent nuisances– It may scare some potential homeowners away, but HOA rules keep the community looking its best. You don’t have to worry about a neighbor’s broken down car sitting in the front yard. In some HOAs you won’t have to worry about someone obstructing your ocean view. The association made up of community members, establish guidelines that all homeowners need to adhere to.
7. Beautiful homes and streets– Part of HOA rules govern outward appearance of the property. Does neighbor want to leave garbage cans at the street? Association rules will prevent that. Keeping yards manicured and free from debris plus the addition of association sponsored maintenance make HOA communities a great place to live.
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6. Support with neighborhood conflict- HOAs are an added layer of support when dealing with neighbor disputes. Most homeowner associations have community meetings where issues can be addressed.
5. Security– Some HOA neighborhoods are inside gated communities that provide for private neighborhood access to residents and invitees. Some HOAs even have private security guards to keep the community safe and preserve privacy.
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4. Increased sense of community– Pride in ownership and a sense of community bring the neighborhood together. Some associations host events and encourage their homeowners to participate in community functions.
3. Rule makers– When you rent an apartment, you have to abide by lease restrictions. If you live outside of an HOA you are at the mercy of laws and codes set forth by the county. In an HOA community, you have control over the rules and restrictions through a homeowner elected board. With a homeowners association, you can directly influence your neighborhood.
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2. Happiness– People that live in HOAs are happy! According to the Foundation for Community Association Research 92% of homeowners association members rate their experience with their community association as positive (70%) or neutral (22%). 88% say their elected boards have their community’s best interest in mind.
1. Property values– Generally, homeowners association communities keep property values from declining. All those rules and regulations keep homes in pristine condition and the amenities are a draw for just about every demographic of homebuyer.
Talk to one of the many experienced Elite agents today about buying a home in an HOA.