Benefits of being part of a homeowners association (HOA)
There is no doubt that the idea of living in a community with a homeowners association (HOA) is a very talked-about subject. This is essentially having an organization that controls various aspects of how you live and maintains a cohesive atmosphere in a community.
Living in an HOA comes with more rules and HOA fees that include HOA insurance. In fact, tens of millions of Americans live in communities that have an HOA. A large reason for this high amount of interest in these communities is the many benefits they provide.
This article is going to take a closer look at a few of the many benefits of being part of an HOA.
Access to great amenities
One of the best things about living in an HOA is the vast amount of amenities you will often have access to. This can often include manicured walking trails, gyms, a pool, a games room, parks, areas for barbecues, sports courts or fields, and much more. Part of your fees will go to the upkeep of these amenities, so you might as well use them.
The common areas of the communities will also be well-kept and look great, and many of these amenities will be much less busy, while also being better kept, than their public counterparts. Also, many HOAs will also offer discounts or have special deals with local businesses for members, as well.
Better conflict management
Dealing with your neighbors can often be a touchy subject. Many Americans have issues with their neighbors, and finding a resolution to these problems is not always easy. If someone isn’t breaking a law, it can be hard to get them to stop them from doing something you don’t like.
But in an HOA, there are clear rules and regulations in place that dictate the type of behavior each member needs to abide by. If someone is breaking a rule, simply alerting the company managing your community can ensure it gets dealt with effectively and quickly. Things will come to a peaceful conclusion, and you won’t have to worry about dealing with the issue for much longer.
In most cases, you won’t even need to approach your neighbor directly, as it will all be handled professionally. Having an HOA ensures you always have someone on your side if someone is breaking a rule and you never need to feel powerless anymore.
They can keep property values high and stable
Whenever you own a home, something that you will often think about is the value of that home. You want the property values as high as possible, and anything that can bring them down is essentially like money out of your pocket.
Having even a single bad house on a block or a home that is unkempt can be enough to dramatically lower the value of all homes around it. So not only is it up to you to maintain the value of your own home, but you also rely on your neighbors. Thankfully, those living in an HOA generally don’t need to worry about this.
These associations generally have strict rules for how a home can look, and the type of upkeep that is required. Sure, these can often be annoying to deal with, but they are an important part of ensuring everyone is holding up their end of the bargain to keep property values high and stable.
The many benefits of HOA
As you can see, there are many benefits to living in an HOA, from access to amenities, to conflict management help, to high property values. Sure, there may be some additional costs, but to many people, these are well worth it.