Understanding the benefits of HOAs is crucial for anyone considering purchasing a property. In this blog post, we’ll delve into what exactly an HOA is and why opting to live in one can be a fantastic idea.
What is an HOA and how does it work?
HOA stands for Homeowners Association, which is a private organization governed by a board of directors. The board members are responsible for managing the community and ensuring that decisions are made with the common interest in mind. The board has an important role in the HOA. They enforce the rules, keep track of payments and bills, and organize meetings. Their role is also to ensure compliance with the governing documents and state laws.
In general, when you buy a property in an HOA, you automatically become a member of the HOA. That means you have the same rights and duties as all the other owners in that community. In that case, you are subject to the HOA’s rules, which limit what you can and can’t do. So, before moving in, it’s really important to know the regulations and guidelines of the HOA.
Benefits of HOA living
Living in an HOA is an experience with many benefits. The decision to join an HOA means choosing to be in a community and to have a support network. Relying on a board of directors to handle administrative tasks and ensure everything is in order simplifies your life.
Here are the 5 main benefits you gain from living in an HOA:
1- Property values
HOAs are full of well-kept and beautiful homes. And that’s no accident. Unlike an ordinary neighborhood, where each resident is responsible for taking care of their own property, in HOAs there are rules about this. Usually, homeowners need to ask for permission to make changes in the house, because the HOA has control over the aesthetic of the community. The rules to maintain the pattern are important to keep the HOA in a high standard. Because of that care and maintenance, HOAs increase the property values.
2- Community amenities
Most of the time, the HOA is not only a place with houses. It is extremely common to have community facilities, like pools, gyms, and playgrounds. In fact, these HOA amenities are one of the top reasons why people choose to live in HOAs. Having a nice space outside your house, where you can enjoy and have a nice time, a place to meet your neighbors, is a big HOA benefit.
3- Well-Kept neighborhood
For the association, the landscaping maintenance and improvements are fundamental. The HOA board has the responsibility to manage it. Maintaining common areas requires a lot of effort.
By living in a HOA you will have your neighborhood well taken care of without extra personal effort. Usually, your monthly association dues have included costs for the maintenance of the community amenities. Can you imagine enjoying the pool, the gym, the garden and not having to worry about cleaning any of those things? In a HOA that’s the reality.
4- Sense of community
Another benefit of HOAs is that you will be part of a community. With the common spaces it is easier to get to know your neighbors. Besides that, the HOA promotes social events and community meetings. These are good opportunities to discover those who live near you. In general, HOAs aim to make residents feel part of the community, fostering a sense of belonging to something larger than their own houses. That’s the best way to have a group of people you can rely on, and who can rely on you too
5- Safety
Last, but not least, the security!
HOAs are also all about creating safe neighborhoods. With access systems, it is possible to monitor who enters and who leaves the HOA. It is important to know that the board should serve everyone’s security. Many communities nowadays use digital tools to increase safety within the community. Additionally, having common areas such as playgrounds allows people to enjoy leisure time within their community without having to travel far, making it not only more convenient but also safer.
Wrapping up on Benefits of HOAs
The benefits of HOAs are plentiful. When you become part of such an association, you are joining a close-knit community. Having a well-maintained home is just one of the reasons to invest in an HOA property. There’s so much more waiting for you to take advantage of.
