The Good and The Not-So-Good of Homeowners Associations (HOAs)
As, or Homeowners Associations, are a big factor in a lot of homebuying decisions. HOAs are pretty common amongst communities within the country. Homeowners Associations have many advantages and disadvantages that come with them. So, as a real estate agent, it is important for me to help you understand the dynamics of an HOA and how it can impact your home buying or selling process. Through this blog, you will be able to look at the good and the not-so-good parts about living in a community with an HOA.
The Good
Amenities – HOAs help manage shared spaces, such as neighborhood pools, parks, workout centers, and the front entryway of the neighborhood. They may even manage trash removal and snow plowing in certain areas. This helps ensure that the community stays maintained and is a nice place to live.
Standards – When an HOA is created and enforced, there will be guidelines or standards that everyone in the community must follow. This will help maintain a beautiful neighborhood or environment.
Resolutions – If you are having a dispute with someone within the neighborhood, you will have access to conflict resolution with the members of the HOA.
Property Value – When your property and community are well-managed, the value of the property may be higher since the appeal of living in that community is larger.
The Not-So-Good
The Dues – In order to provide amenities and enforce standards, members within the HOA will need to pay an annual or monthly fee. Fees can vary depending on the area you live in, but it is an added expense you will need to take into account.
Guideline Restrictions – HOAs have guidelines or standards that members are expected to follow, but they can sometimes be overbearing and too restrictive. They can range from input on the decorations you put outside to exterior paint changes to landscaping. In some instances, you may need to acquire HOA approval to move forward with certain projects.
Unequal Enforcement – Some HOAs can be too restrictive, but some HOAs may not enforce the standards enough within the community. Also, if the standards are not equally enforced amongst members of the community, this may create tension.
Ultimately, HOAs can be an amazing thing to look for when searching for a home to buy. They may offer great benefits, such as amenities, standards, conflict resolution, and an increase in home value. However, make sure that you are weighing the pros and cons of Homeowners Associations for your family and the potential communities you may be a part of.
We hope that this blog post has provided valuable insights on how to choose the right real estate agent for your home search. If you would like an agent on your side in the CSRA, contact our team today!
Best regards,
The Bradley Sikes Group
Meybohm Real Estate
Best regards,
The Bradley Sikes Group
Meybohm Real Estate
Contact us!
: 706-955-5122
: bradleysikesgroup@meybohm.com
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