Paying home owner association (HOA) fees in addition to a mortgage and property taxes may, at first, seem less than desirable. You may be even wary of HOA because you have heard they can be restrictive, determining the colors you are allowed to paint your home, the condition of your lawn, etc. The benefits of having an HOA, however, can be considered an investment.
HOA’s may seem to restrict your creativity or personal style, not allowing you to paint your home bright pink and orange. But what appeals to one person may not appeal to another. By having guidelines and rules all residents in your neighborhood must abide by, what the HOA is really doing is ensuring your property value doesn’t decrease because of unappealing overgrown yards or piles of trash in your next door neighbor’s yard. HOA’s put certain rules in place to safeguard your property value.
With newer communities, it is becoming more common to have shared amenities such as pools, parks, and sport fields. HOA fees go toward the upkeep and maintenance of these facilities. Not only does this help increase the property value, but also saves the residents time and money by giving them the opportunity to enjoy such amenities within walking distance.
Safety and Neighbor Communication
Often neighborhoods with HOA, also have a neighborhood watch and regularly scheduled meetings. This provides an opportunity to address any concerns and get to know your neighbors. Additionally, with the neighborhood watch you can feel safe and secure even when you leave your home for an extended period of time.
These are just a few of the many reasons HOA’s help improve the quality of life. If you are interested in moving up and finding a new neighborhood contact us. We can help you find the perfect new home with the amenities and neighborhood design you desire.