When you consider your options for a new home, it is important to think about every aspect of the home's location — including if the community has a homeowners association (HOA). What are the benefits of a homeowners association? What does paying those HOA fees actually give you?
First, an HOA typically means a well-maintained community appearance. The HOA sets standards that homeowners need to abide by. If these standards aren't met, the homeowners could be charged a fine. This adds extra incentive to keep the yards and homes in top shape which helps protect the value of your home.
To help keep this tidy appearance, there are usually services like lawn care, snow removal or trash removal that the HOA takes care of. The costs of these types of maintenance are covered by your HOA fees and can mean less worry and time spent keeping up with outdoor maintenance for you and your family. The types of services covered by your HOA fees vary greatly depending on the community.
If you are wanting a community rich with amenities and perks, an HOA likely manages and maintains these facilities. Depending on the location, your HOA fees may go toward maintaining pools, tennis courts, clubhouses, community centers, walking trails and other community amenities.
The input and management of an association can help keep neighborhood disputes from escalating. The HOA can intervene if there are arguments or misunderstandings about tree placement, loud parties or barking dogs.
Also, an HOA can help add to the overall communication and cooperation in a community. The well-maintained appearance and great amenities of the community add a sense of pride in the neighborhood. The residents learn to work together for the common goal of maintaining and improving the place they call home.
While it's true that the rules and regulations of an HOA can be a nuisance for some home owners, many love living in a community with an HOA. Regulations and fees vary tremendously from one HOA to the next, so as always, be sure to find out all of the details before you make any final decision.