Homeowner Associations have become more popular in recent decades with a record number of Americans living in HOA communities as of September 2020. Opinions vary on whether HOAs are necessary or too overbearing as they often implement rules and regulations that homeowners must abide by, but even with some strict rules, there are many benefits to having an HOA in your community.
What is an HOA?
An HOA is an organization within a community that creates and enforces rules to maintain the overall look of the community. The HOA is made up of residents of the community elected by community members or may be a community management company. An HOA typically require all members of the community to pay monthly HOA fees to cover maintenance of shared areas and amenities and providing services like trash and snow removal if applicable.
Why is an HOA important?
1. Increase in the Value of Your Home
Perhaps one of the most beneficial reasons for living in a community with an HOA is that it increases the property value of your home. Living in a neighborhood that is well-maintained is a must for many homeowners and therefore puts those neighborhoods in high demand. HOAs have also proven to be effective at stabilizing property values in times of economic recessions and depressions.
2. Access to Great Amenities
Neighborhoods, condominium buildings, and apartment complexes often offer amenities such as pools, parks, and other common spaces for residents to enjoy. With the help of an HOA to handle the upkeep, you’ll be able to enjoy your neighborhood amenities in their best condition.
3. Landscaping Maintenance and Lawn Care Rules
In HOA communities, a percentage of the fees collected from residents goes to ensuring that greenery throughout the community is well-kept. You also won’t have to worry about looking across the street and seeing a neighbor’s knee-high grass because of rules that HOAs make about the exterior appearance of homes in the community.
4. Community Involvement
HOA communities often host events for community members to meet and mingle. From pool parties to movie nights to barbecues, HOAs often offer a variety of activities that everyone can enjoy and meet and connect with their neighbors. Getting involved with your HOA is also a great opportunity to volunteer and make an impact on your community.
5. Keep the Peace with Neighbors
The very presence of an HOA within your community is likely to deter unruly neighbors in the first place. Although, if you do end up having a disagreement with a neighbor, the HOA is there to help resolve the issue. Whether someone across the street is having a loud party or a neighbor’s tree is hanging over your property line, the HOA can act as a mediator in the situation.
While it may be appealing to avoid HOA fees at first, an HOA helps to keep your neighborhood beautiful and has more benefits than many people realize. Reach out to our sales team to learn about our fantastic communities!