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- Are You Moving Into An HOA Community? Here are the Amazing Facts!
Are You Moving Into An HOA Community? Here are the Amazing Facts!
My husband and I are in the beginning stages of purchasing our home. Every so often, we have come across homes within Homeowners Association communities and have been alarmed by the annual fees associated with them. This made me curious, what are Homeowners Associations and why do they exist? There are several elements, both positive and negative about buying a house within an HOA community.
Element 1: An HOA will make sure that you live in a community with AMAZING amenities, such as a clean play area, manicured lawns, and bright and freshly painted walls. You’ll also likely have walking trails, sport courts, swimming pools, BBQ pits, and parks in your neighborhood.
Element 2: HOAs help ensure your home and its neighborhood stay aesthetically pleasing. Think of an HOA like insurance for your neighborhood to stay like the Cleary’s.
Element 3: Aesthetically pleasing is definitely in the eye of the beholder. While it may be my husband’s dream to have a dinosaur statue in our front yard, our future HOA board may require it to be removed. This is one negative and sometimes positive side about an HOA – you are bound by certain rules and regulations. This could turn out to be a positive thing for you, especially if Mr. Neighbor has a noisy fountain or dead-ugly lawn.
Element 4: HOAs help bring a sense of community and pride to your neighborhood. Who wouldn’t love driving up to that gorgeous lawn and home?
Element 5: The support system within HOA communities is by far an Amazing feature. Have an issue with a neighbor and a property line? Get mediation and a fair solution with the HOA’s involvement. Sidewalks need shoveling (not necessarily a Texas thing, but still), the HOA will likely take care of it.
Despite all these elements, you should remember this one nugget about HOAS: Homes within HOA communities retain their property value. Maybe the annual fee isn’t so bad.