If you’re on the market for a new home or planning a move soon, you might be wondering whether or not a homeowner association (HOA) is right for you. In this article, we have broken down the benefits and drawbacks of HOA’s. Think about how these details would pertain to you.
These tips come from industry insiders and reliable sources, and you should check them out. Know what you need to know. Make the best choice.
Invest wisely. Be sure you know what your HOA would or would not include. Take into account those living with you, too, animals included.
Top Benefits of Having an HOA
When you agree to this partnership, you can unlock all kinds of wonderful benefits. Take security, for example. Many HOAs have designated security staff. If you live in a high-rise, chances are you will be greeted by a concierge every day, too. This could come in very handy for those of you who stay very busy.
Career and other responsibilities also can be more enjoyable when you have various maintenance needs administered by your HOA. In a planned community, your features like fitness centers and pools cared for by pros are dedicated to your HOA. Commons areas and landscaping are taken care of, too. According to C&D, a company that does parking lot sweeping in Dallas TX, sweeping large areas without the proper equipment is not only inefficient but can lead to legal liabilities if anyone is injured or property is damaged due to debris.
HOA communities also offer people like you cool features like auto bill pay. Cable, electric, gas, internet, and water utilities can be arranged into one monthly statement for you. Some of your insurances might be covered, too. If you are trying to consolidate your expenses as much as possible, this could be wonderful for you.
In addition to all of those aforementioned benefits, you also typically have an HOA board. These women and men work on behalf of your entire property. You can be as involved as you would like, and you don’t have to participate at all. But these folks handle the decisions about the future enhancement of your community, including any improvements or modifications to your specific property.
Drawbacks of Having an HOA
While the idea of an HOA board sounds exciting to some and maybe you, others do not like them. These boards can be a drawback, and you really need to think about what all it entails. Unless there is a majority vote in support of your ideas, your suggestions will not be implemented. You can’t add new plants to the entrance without their permission. The new paint color for your front door might not be approved.
Of course, you can add accessories and personal touches here and there, but you have to stick to agreed-upon rules. However, you might enjoy the peace of mind that most HOAs ensure their property looks aesthetically pleasing and in motion with current home design and decor trends.
The various features on your property can provide you with all kinds of great opportunities for fun and relaxation. But you aren’t always guaranteed that you will be able to use those spaces. What would happen if you wanted to use the planned community pool to host a birthday party and there were one or more events already booked for your date? Would a single-family home with its own pool be better? Plus, you always can take a trip somewhere.
It’s also important to know that you can end up having to pay for items you don’t think are good decisions. Should you think your HOA’s decision to resurface the parking lot, for example, isn’t a necessary immediate investment, they can proceed regardless. Should you ever want to rent your place, the HOA also could prevent you from doing that. They can set rules as to how many people can be in your residence, including your yard and shared common areas. You could have restrictions relating to pets, too.
What Matters to You?
You’ve looked at the pros of cons of having a home HOA, but you must take into account what specifically matters to you. And again, consider those who will live with you and the lifestyle that you want to live. Whether you want complete autonomy over your property prefer giving some up for the convenience of an HOA, use the information above to help you make a more informed decision.