The Benefits of a Homeowner’s Association
June 12, 2018 |
When agreeing to the terms of a community homeowner’s association, what exactly are you getting in return?
Appearance – HOA fees usually pay for upkeep and landscaping, to give the entire neighborhood a consistently pleasing look.
But the rules also work in your favor to make sure everyone keeps up their end of the bargain. No unfinished additions, peeling paint jobs, or lawns filled with old cars.
Safety – In some cases, carefully vetted residents, and compliance with community standards relieve some of the uncertainty
of not knowing your neighbors.
Support – An HOA provides a safe and neutral environment to settle any disputes between neighbors, should they arise. Noise
complaints, stray animals, problems with speed limits: there is no problem that you will have to face alone. With an HOA you have a resource.
Amenities – Each HOA- run community is unique, and there is not a uniform set of extras guaranteed to come with a neighborhood.
Swimming pools, tennis courts, workout facilities, and security gates are all common in many HOA communities.
Increased Property Values – Ultimately, the greatest benefit of being a part of a homeowner’s association is the impact on
your bottom line. There are roughly 63 million people that live with HOAs, about 24% of all houses in the country. Yet, their value accounts for 30% of total real estate values. With good management, the rules and regulations of an HOA can translate into
an increase in everyone's property value.
Homeowner’s Associations & Allison Ables
An HOA is not for everyone. But that doesn’t mean it isn’t right for you! A homeowner’s association entails rules and regulations that everyone in the community must follow. An obvious drawback to the HOA is the fees. These fees vary from one HOA to the
next, but the bottom line is always the same – the collected fees are put right back into the community. Compared to the costs of individual lawn care, home maintenance, amenities, and trash pickup, the fees for an HOA can be lower because the association
can negotiate a lower price for all of the homeowners.
Allison Ables can help you find your dream home, with or without an HOA. We can answer any questions you may have about the community surrounding each of our properties. If you are trying to form a new HOA, or need assistance managing an existing
association, contact one of our agents at Allison Ables Real Estate and Property Management.