The American Dream is to own a home, but with the high cost of living and mortgage rates on the rise, it can be hard for buyers to find their perfect match. Homeowners associations (HOAs) provide an opportunity to purchase a home with amenities that are affordable and in areas that may not have been considered before. An HOA offers many benefits such as lower taxes, limited homeowner responsibilities, low maintenance fees for water damage or mold removal services and more! You should consider buying into a homeowners association if you’re looking at purchasing your first property or want to move up in quality without moving up in price.
Beautiful Amenities are Taken Care of
Many neighborhoods with homeowners associations have beautiful common areas shared amongst all homeowners such as swimming pools, clubhouses, tennis courts, and parks. There is likely to be an amenity that suits your lifestyle, depending on where you live.
HOAs do a great job of maintaining their amenities and common areas. You can see this in the well-maintained common areas: freshly painted walls and lighting that works, manicured lawns and over-seeded, as well as clean play areas and lighting. The community will feel better if it looks good.
An HOA Provides Extra Safety
When homeowners live under an homeowners association they have reciprocal benefits of living in this community such as homeowners security. A neighborhood with a homeowners association may also be very safe because the board members are always looking out for violations or potential dangers such as broken street lights or defective stop signs they can report to city officials for repair/replacement so that the entire neighborhood is safe for everyone to enjoy.
Many other homeowners use a homeowners association as a way to keep their community safe by monitoring it themselves instead of hiring an expensive security personnel company or having police patrol 24/7 which is too expensive for most HOAs.
An HOA Hires Contractors to Fix Repairs For You
A homeowners association is helpful when there are repairs needed or situations that need to be addressed after your home inspection; for example, a new roof, broken window, etc., because the homeowners association can hire contractors and do all of the billing/collecting without homeowners having to worry about finding reputable people.
More Community Engagement
Neighborhood gatherings and activities like movies, themed festivals, and more bring people closer together. Activities and events that bring people together are a great way to increase pride in ownership and HOA membership. No matter the size of your community, you can feel joy and camaraderie among neighbors at every community event.
Rules & Regulations to Dissuade Annoyances
Every resident in the community has to uphold the same standards regarding exterior maintenance, noise restrictions, parking restrictions, and short-term rental guidelines.
Maintaining Property Values
Residents are responsible for maintaining their homes and common areas. A lot of home buyers find living in an HOA attractive because it is a place where they can enjoy a clean home and a quiet neighborhood.
An homeowners association may increase your property value by adding value to the surrounding area when you purchase homes within an HOA neighborhood. Homeowners who live in an HOA benefit from the reciprocal benefits of living in this community such as knowing that someone will always be there to help them maintain their home’s value. If you would like more information on how your property’s value is being maintained, contact your real estate agent!
The benefits of living within an HOA vary from one homeowner to another. It is important that you take the time to evaluate your individual needs and wants, then research HOAs in your area accordingly before deciding if it’s right for you.