Some buyers are hesitant to purchase houses, condos, or townhouses that have a Homeowner's Association. While HOAs aren't for everyone, there are many benefits to buying a home with a.&
The Benefits Of Having A Homeowners Association
Some buyers are hesitant to purchase houses, condos, or townhouses that have a Homeowner's Association. While HOAs aren't for everyone, there are many benefits to buying a home with a HOA. The monthly HOA dues you pay go towards covering almost all of your property expenses including water, garbage, common area maintenance, exterior building maintenance, landscaping, amenities (pool, hot tub, gym, tennis courts, rec room, etc.), basic insurance, and sometimes more. When all of the homeowners split the cost of these expenses it reduces the amount each owner pays. Below are the top 10 reasons buyers benefit from a Homeowner's Association.
10. Well-maintained amenities – HOAs typically do an outstanding job of maintaining amenities. (Think manicured common area lawns, freshly painted walls, lighting that works, and clean areas to play).
9. Increased amenities – Not just well-maintained amenities, but lots of them, too, which may include walking trails, sport courts, swimming pools, gyms, barbecue pits, and neighborhood parks.
8. Aesthetically pleasing homes – Just take a drive through a HOA community and you’ll see.
7. Rules and regulations deter nuisance activity and promote conformity – Beauty is not just in the eye of the beholder.
6. Added layer of support in dealing with neighborhood property issues - HOAs often partner with municipal code compliance departments to ensure adherence to the rules.
5. Community bonding and communication among neighbors – A great way to make new friends.
4. Increased community pride – Who wouldn’t be proud to live in an attractive, well-run community.
3. Financial stability – A well-managed HOA has a reserve study in place and funds available for future common area repairs and capital improvements, thereby reducing the likelihood of special assessments down the road.
2. TLC – Community common areas are cared for by trained professionals.
1. Properly protected property values. When your neighborhood takes care of the surrounding homes it maintains and increases the value of your home.
Noa has been exceeding the expectations of his clients since launching his real estate career in 2003. His client list includes CEO's of Fortune 500 companies, biotechnology executives, professional ....