The Benefits of Having an HOA
Some people love living in neighborhoods that have a homeowners association. They see the benefits of belonging to a group like this and they have made the choice to sacrifice when necessary to participate.
Other people, though, are hesitant to move into areas under the jurisdiction of an HOA. Sometimes, these folks will contact someone on the board to talk about the HOA before they decide to move in. Under these circumstances, it’s useful for all board members to be able to articulate the benefits of having an HOA.
Maintaining and Raising Property Values
HOAs have proven themselves beneficial to people who want to be sure to maintain their property value or watch it grow. They help make sure that no one home in an area brings down the values of all of the homes around it, by holding all homeowners to high and agreed-upon standards. They also maintain and raise property values in the following ways.
Maintaining the Appearance of an Area
Every HOA will have different rules about how a home must appear, but the important thing is that they hold all residents to these standards. When you live in an area governed by an HOA, you don’t have to worry about your neighbors letting their yard get overgrown, parking a massive motorhome on the street, or storing their commercial vehicles up and down the street.
Because HOAs have rules about paint, architecture, outbuildings, signs, fences, and more, the neighborhood will maintain a relatively uniform experience. No single home will be allowed to stand out in a major way, which can bring down the values of all the properties around it.
Recreational Facilities and Opportunities
Many HOAs provide a variety of different recreational facilities, as well as opportunities to connect with neighbors. These facilities can include swimming pools, tennis courts, basketball courts, playgrounds, exercise centers, and even meeting rooms that can be rented out. Most homeowners cannot afford to have all of these things in their homes (or do not have the desire or the space), but participating in an HOA gives them access to it all.
Many HOAs also offer a variety of opportunities to get to know other people in the neighborhood. These activities can include BBQs, holiday festivals like Easter Egg Hunts, movies in a park, and more. For folks just moving into an area, these can be great ways to know the neighbors and incentives for choosing a home in an area with an HOA.
Safety and Security
If the HOA offers a gated community or an organized neighborhood watch, participating in it can make a home safer and more secure, too. When it’s harder to get into an area or everyone knows that the neighbors are keeping an eye out on their property, things like break-ins are less likely to occur.
Many HOAs provide a variety of services to their residents. This includes maintaining common areas and keeping the recreational facilities useful, and can also include services like trash, gardening, and more. All of these add value to a home because residents don’t have to pay for these services themselves.
All of these benefits add up, and the sum total is that homes in areas with HOAs tend to maintain their value, and even grow in value, above and beyond those in areas without them. Convincing some people of the value of an HOA may be impossible, but many people can be brought to understand why the association has value for them.