The top 10 benefits of living in an HOA community
When you consider purchasing a home within an HOA community, there are several questions you may have, such as “What are the benefits of living in a covenant-controlled neighborhood.” First, you need to understand that no two HOA’s are exactly alike. You should be aware of the variables in each community, which may vary from one homeowner to another.
Here are 10 of the benefits of living in a community with a Homeowner’s Association:
Architectural controls: residents are required to submit for approval any modification projects to the exterior of their home. The Architectural Control Committee reviews each submittal to ensure consistency and continuity with the original design standards.
Increased community engagement: community gatherings and activities such as a movie in the park or a holiday-themed festival bring neighbors closer together. Regardless of the community’s size, there is a sense of camaraderie and joy among neighbors at any community event.
Access to amenities: many communities feature walking trails, sports courts, swimming pools, barbeque grills, and neighborhood parks that are available for use by residents. HOA rules make sure that these facilities are well-maintained throughout the year, that they are safe, and facilities, such as playgrounds, are in good working order.
Maintaining common areas and amenities: This service includes manicured and over-seeded common area lawns, freshly painted walls, lighting that works and clean play areas. This also increases community pride and the pride of home ownership.
Rules and regulations deter nuisance activity: Each resident who owns a home in the community is held to the same set of standards for the upkeep of their home’s exterior, as well as the adherence to noise policies, parking restrictions, shot-term rental guidelines and more.
Added layer of support: when dealing with neighborhood property issues, HOA’s often partner with municipal code compliance departments to ensure adherence to the rules.
Community connection through volunteer work: opportunities to be of service to your community by volunteering to serve on the board of directors is not only a great way to make new friends, but it offers individual members of the association a deeper connection to the community.
Financial stability: a well-managed HOA has a reserve study in place and funds available for future common area repairs and capital improvements, such as paving roads, trimming trees, planting foliage and caring for flower gardens, commissioning artwork for public display, and holiday decorations.
Helping maintain property values: This is the number one best thing about living in an HOA neighborhood. Since residents are held accountable to deed restrictions, homes and common areas are consistently taken care of and well-maintained. Having a well-kept home in a well-kept neighborhood is what makes living in an HOA community highly desirable for a lot of buyers and investors.