With 1 in every 5 homes belonging to a homeowners association (HOA), there’s a good chance your next house will be in a planned development. The number of HOAs in America grows each day. Did you know there are 30 times more planned communities in the United States now than there were in the 1970s? The perks of an HOA prove to be popular among the modern homeowner crowd and for good reason. Continue reading to find out why joining an HOA can be considered a wise investment.
1. More Amenities
If you like swimming pools, greenways, and tennis courts then an HOA is a great choice for you because you’ll have these amenities right outside your doorstep. Clubhouse areas provide an extra space to congregate with friends or attend hosted events. Maintenance will provide upkeep of any shared facilities and if major damage were to ever ensue, the HOA will cover all expenses.
2. Premium Property Values
All the rules and regulations of an HOA are there for a reason – the biggest motive being to maintain the property value of your home. Since the community is always going to be beautifully manicured, there is less risk of your home’s value decreasing. HOA houses are better known for retaining property values compared to standard neighborhoods which might change over time.
3. Joining a Community
Since everyone in the neighborhood owns an equal share of the public spaces, it’s easy to feel a connection between one another. Whether you’re looking for a tennis partner or babysitter, community boards and group emails make it simple to find friends and help each other out in times of need. Many HOAs even host events, holiday parties, or youth activities, so you’re guaranteed to never have a dull moment.
4. Community Uniformity
If you find yourself dealing with an unruly neighbor, fortunately, you don’t have to approach the issue with direct confrontation. Simply contact the HOA management and they can handle the situation. Confronting a neighbor in such a situation can feel uncomfortable so this is a huge plus. You’re also at less risk of having disorderly neighbors in the first place because of the rules and regulations put in place to live in an HOA. Strange quirks like hot pink front doors or messy front yards will never be an issue.
5. Curb Appeal
Most HOAs will offer maintenance services to make sure your lawn and garden are always groomed to perfection. You never have to worry about an eyesore house on the street bothering you and your neighbors because HOA rules will ensure all homes are landscaped and maintained within a specific style. Common areas like street cleaning, clubhouse gardens, and the front entrance are also cleaned more efficiently than municipal government standards. If a power line falls down or another damage occurs from natural disasters, HOAs are very prompt about tending to such matters immediately. All these factors tie back into why stable, and usually higher, property values are guaranteed in a planned development.
The monthly or annual HOA fees might turn you off, but such expenses are worth the price. Not only will you discover a better sense of community in an HOA, you’ll also have the peace of mind knowing your property value is safe and secure among you and your neighbors. According to the Community Association of Research, 92% of HOA members rate their experience as positive. So what are you waiting for? Check out homes in an HOA community.