An Overview of Hoa Amenities, Property Values, and More
Those who are considering purchasing a home or condominium with a homeowner’s association (HOA) for the first time often have many questions about the purpose and benefits of living within an HOA community. It’s important to understand that no two HOAs are exactly alike, and everything from the HOA fees to the common areas and guidelines will depend on the individual community. However, in any well-managed HOA, there are several benefits you can expect. Here are the most common benefits you’ll find across all HOAs.
Benefits of Living in a Homeowner’s Association
Maintenance and Repairs of Common AreasAs a buyer or seller in an HOA community, you can feel confident that the community will be maintained by an expert team of landscapers, electricians, painters, and more. These professionals will keep all amenities and community features running smoothly, tackling everything from routine maintenance to specific projects.
Property Value ProtectionBecause the common areas and homes in HOA communities are consistently well-maintained and held to high standards of aesthetics, these communities uphold a certain level of prestige and luxury. The community’s pristine landscaping, beautiful common areas, and upscale amenities contribute to the appreciation of property values over time.
Architectural ControlAny projects or modifications to the home's exterior must be submitted for approval to the HOA. To ensure consistency with the community design standards, the Architectural Control Committee (ACC) reviews each as it comes in. There is a strong link between HOA architectural guidelines and higher property values. The enforcement of these rules helps to preserve the community’s overall quality and visual charm.
Increased Community EngagementIt’s common knowledge that community events and activities, such as concerts in the park and holiday gatherings, bring neighbors closer. Whether it’s a larger community or a quaint subdivision, a sense of companionship and happiness can be found among friends and neighbors at these events. In an HOA community, you may feel a stronger sense of belonging, likely due to increased social interaction and involvement.
Access to AmenitiesMany HOA communities enjoy access to walking trails, swimming pools, picnic areas, barbecue pits, sports courts, fitness centers, and neighborhood parks. Depending on the specific community, there’s likely an amenity or two that will suit your preferences and lifestyle.
Rules and Regulations Deter Nuisance ActivityResidents who own homes in a community with an HOA are held to standards regarding parking restrictions, noise policies, short-term rental guidelines, and more. These aim to provide a peaceful environment that deters any nuisance.
Additional Layers of SupportNot only do HOAs offer plenty of practical benefits, but residents often feel supported and heard by the HOA committee and leadership boards. HOAs typically hold regularly scheduled meetings where community members can voice their opinions, vote on issues, and ask questions. These meetings help community members feel understood and valued as a whole.
Financial StabilityAll well-maintained HOAs have reserve funds in place. What this does is help the HOA set aside funds and plan for future common area repairs and capital improvements, such as fixing the sidewalks, upgrading the playground equipment, or repainting the buildings. In this way, the HOA can plan for their expenses and prevent special assessments or one-time fees.
Final Thoughts on Living in an Hoa CommunityHOA communities promise an array of top-notch amenities, gorgeous properties, strong property values, and a shared feeling of togetherness. If all of this sounds appealing, team up with the experts at HomeBase Texas today to get started.
- POA’s can foreclose if dues go unpaid