Are you considering moving into a neighborhood with a Homeowners Association (HOA)? Here are some pros and cons to consider before making the move.
Let’s start with the basics. An HOA is a governing structure for a planned community, such as a development of single-family homes, condominiums, or townhouses. Consider an HOA as similar to a landlord or property manager. It’s an entity that takes care of certain features to maintain the community and atmosphere in exchange for a fee, and then you follow certain guidelines.
Now let’s discuss some pros and cons. A pro of living in an HOA community is the lawn care and external upkeep of the property. The HOA pays people to take care of those services for you, and you pay the monthly fee.
On the other hand, the fees can be hefty. If you don’t pay them on time, you run the risk of a lien being placed on your property.
Another pro is the amenities. Some HOAs include pools, gyms, courts, and other common areas. Imagine walking to the pool every day without having to deal with the maintenance or upkeep!
However, there are restrictions when you join an HOA. These can include choices in paint color or fencing. If you wanted to paint your front door orange, you probably wouldn’t be able to in an HOA community.
Lastly, one more pro of joining an HOA is that it cuts down on the number of bills and people you pay for services. It doesn’t necessarily cut down on total costs, but it can reduce some stress in your life. Instead of sending out numerous bills or keeping track of various service providers, you just make one payment to the Homeowners Association each month.
With these factors in mind, weigh the pros and cons for yourself to determine if living in an HOA community is best for you. Let us know how we can help!
Want to learn more? Check out 8 Home Improvements that Could Help You Get Top Dollar for your home or take a look at this handy Deep Cleaning Checklist to satisfy your spring cleaning desires!