Living in a neighborhood or housing development with a homeowners association can provide amazing benefits. It is the dream of most people to one day own a place they can call their own.
On top of it all, a place where neighbors respect each other’s values and interests. Having access to facilities like pools, tennis courts, gyms and other luxury amenities will only serve to enhance the pleasure you can enjoy as a benefit of homeownership.
If you would enjoy having access to facilities and amenities in your neighborhood, then choosing to buy within a homeowners association can prove to be one of the best decisions you have ever made. Here are some of the benefits which most property owners enjoy from their HOA.
What is a Homeowners Association?
Let’s familiarize you with the basics. Commonly referred to as an HOA, a Homeowners Association is a governing body in a planned development area. As a home buyer, you will most likely become a member of a homeowners association when you purchase a townhouse, condominium, house in a gated community, or house in a neighborhood with common areas not maintained by the city or town.
Membership in a homeowners association will require your payment of regular fees and adherence to the guidelines and bylaws of the governing body.
The dues that you pay are for:
- The upkeep of the community
- Maintaining the association itself
- Reserve funding in the event of community damage beyond that covered by insurance
- Supporting the initiatives that members establish at regular meetings
Membership in a homeowners association isn’t for everybody.
For some buyers, the idea that a management association can tell you when you can put out a decorative flag or that you can’t park your truck in front of your property is a deal-breaker. If you have a concern that something that’s important to you, such as your ability to run a business from your home, could be banned by HOA rules, then be particularly careful to read all the regulations before you buy a home in a community with a homeowners association. This doesn’t mean you can’t buy at all within an HOA, but you’ll have to find one with regulations that meet your requirements. Via realtor.com
People may perceive membership as stressful, hectic, or unnecessary when in a real sense, it is only meant to help them. In fact, they get access to a diverse array of facilities and privileges which most homeowners who are not part of it just get to dream about every day.
Below are some of the advantages which people living in an HOA governed area get to enjoy and which most people tend to overlook.
They bring class to a neighborhood
One of the hidden benefits of living in an area under an HOA is that it brings quality and a touch of lavishness to the community living there. That is because the houses in the neighborhood are required to maintain a standard defined by the community. The rules are strict about the house’s exterior and landscaping.
That means all blocks get proper maintenance so you will almost never have to deal with disturbing scenes of dirty or shabby looking properties. Broken down cars and overgrown lawns are typically addressed quickly with the levy of a fine. A homeowners association usually creates a more upscale and posh neighborhood as opposed to areas loosely managed by the municipal government.
The bottom line is that more attractive streets, neighborhoods, and communities keep home values high.
Community amenities included
Even though many people perceive HOA dues as an extra cost, it mostly goes back to their pockets in one way or another. For instance, besides enhanced security and a more classy appearance, residents within an association usually receive access to additional facilities and amenities.
Pools, gyms, tennis and basketball courts among many other recreational facilities are right in the neighborhood as opposed to driving miles away.
Easier dispute mediation
Living in an independent community means that when disputes arise, residents often resort to seeking help from the police or other higher authorities. A homeowners association can help by resolving conflicts at a grassroots level.
Anytime you have a problem with your neighbor’s dog whining all night; you will not have to call the animal department as you can let your HOA leaders handle the matter. If you and your neighbor happen to brush shoulders the wrong way, rather than intensifying the issue or taking it overboard, the HOA can address the situation and help to ensure that everyone is living in harmony.
Every property owning member of the association has opportunities to influence community rules. Covenants and bylaws are the organizing principles of homeowners associations. All members have the right to vote on proposals as well as the appointment of board members.
If a member wants to have even more influence, they will always be able to run for an elected office within the community.
Sense of community
HOAs bring people together through community events and mixers. Many have monthly or quarterly gatherings for their members. The get-togethers can include everything from cookouts to movie nights, games, bounce houses for the kids, and so much more.
Social events held by the association are limited only by the imaginations of the board members. As a voting member of the association, you will have the opportunity to shape the future of your community.