A homeowner’s association, or HOA for short, is a private organization headed by an HOA board. An HOA aims to increase property values by maintaining common areas and providing a sense of community. While the annual fees may deter some buyers, we’ve outlined a few reasons why living in a homeowner’s association is worth it.
They Help Maintain the Value of Your Home
Before going forward with any major renovations to their home, most HOA’S require homeowners to apply for approval. The application process for any home modifications ensures consistency with the intended design of the community. HOA’S also require regular maintenance of homes, lawns, and any other personal property. While some of the regulations may seem restrictive, they are for the benefit of the homeowner and the community. An HOA board’s advice can help homeowners maintain the value of their homes in the constantly evolving real estate market.
They Encourage a Sense of Community
Joining a homeowner’s association also ensures that you will always feel safe and comfortable. People who live in an HOA know their neighbors well and are usually friendly. HOA’S will regularly host activities and communal events that bring neighbors together, such as holiday parties, sporting events, and barbeques. Participating in fun activities with neighbors increases community involvement and pride.
They Provide Access to Amenities
One of the most obvious benefits of living in an HOA is the diligent care for common areas. This can include parks, fitness centers, walking areas, pools, sports courts, and more. In addition, community spaces are regularly landscaped and plowed after a snowfall. A community that looks good is one that its members can take pride in.
They Help Keep the Peace
Most homeowner’s associations have a strict set of standards when it comes to short-term rentals and noise policies. This means homeowners will never have to worry about neighbors having disruptive parties late into the night or renting to anyone that will. If nuisances occur, the HOA board can calmly resolve the issue without confrontation between neighbors. If disagreements do happen between neighbors, HOA’S can serve as a neutral third party that can help to mediate the issue.
Living in an HOA can have many benefits that are not available to the average homeowner. Unsure about purchasing a home that has an HOA? Contact us today; we would be happy to talk to you and answer any questions!