If you’re interested in purchasing a home, it’s important to know everything about the property and the neighborhood. One important detail is whether the home is part of a Home Owners Association (HOA).
A home owners association is an organization in a subdivision, planned community, or condominium that creates and upholds rules for the properties. When you purchase a home that is part of an HOA, you automatically become a member of the HOA and are required to pay dues.
Some homeowners may not like certain restrictions placed on them, but they are usually happy the restrictions apply to their neighbors. In this article, we share the perks of owning a home that is part of an HOA.
Perhaps one of the most obvious benefits of being part of an HOA is the amenities. Many homeowners appreciate having access to amenities they may not be able to afford otherwise. Such amenities include clubhouses, tennis courts, pools, exercise facilities, and walking trails. Even some things as simple as neighborhood street lights and sidewalks are all amenities afforded by an HOA.
Higher Property Values
Typically, home values are enhanced by being in a community association. Rules and regulations keep homeowners from doing things that may negatively impact the rest of the neighborhood. You can rest assured that the homes around yours will be visually appealing.
But before you decide to purchase, make sure you ask for a list of the HOA’s regulations to ensure you are willing to abide by them.
Enhanced Safety and Security
Safety and security are often enhanced in neighborhoods that have an HOA. Some of the amenities may include private security, locked gates, and patrol when necessary. Knowing your neighbors and coordinating a neighorhood watch program can also help increase safety.
An HOA typically requires dues, which are used for a variety of issues. From repaving the roads to maintaining the amenities, the funds will ensure your neighborhood remains in excellent condition.
Typically, there is a greater sense of community in neighborhoods that have an HOA. A stellar HOA board will try to plan events that bring all the neighbors closer. Outsiders will notice the sense of community and want to be part of it. Naturally, the demand will help enhance property values.
Owning a home that is part of a community association should never intimidate you. An HOA is a valuable organization that protects you and your property.
Call us today, and let one of our neighborhood experts give you all the details on the most dynamic communities in town!