Advantages to Having an HOA
Homeowners’ Associations (HOAs) are becoming increasingly common in neighborhoods throughout the country. Some people complain about the strictness of HOAs and the many rules that homeowners must follow. However, it is important to understand that there are many advantages that accrue from the presence of an HOA.
While it is true that our community does not have such amenities as tennis courts, playgrounds, pools, gates, etc., it is also true that our dues are considerably less than those that do have them. Our fees are used primarily for maintenance of the common areas (including the wetlands). This helps maintain the appearance of the entire neighborhood and adds to the feeling of community while substantially increasing the enjoyment of living here.
Increase in home value
The presence of a well-functioning HOA can also dramatically increase the value of homes in the neighborhood. The CC&Rs, By-Laws, and Rules and Regulations (aka Governing Documents) established and maintained by an HOA are designed to protect the value of each property and the community as a whole. The primary purpose of the HOA is to ensure that an individual or group cannot negatively impact the market value of homes in the neighborhood. While many people may be turned off by such governing documents, without them homeowners would be able to act without consequences. As a result, one or a few homeowners would have the ability to negatively impact the majority.
Deters detrimental members of the community
While an HOA is responsible for establishing and enforcing rules and regulations, the mere existence of an HOA can prevent unruly behavior. Homeowners who are unable or unwilling to comply with rules and regulations will be less likely to purchase a home that includes an HOA.
Overall, the advantages of having an HOA far outweigh its disadvantages. HOAs hold the community to a higher standard, thereby improving the experience for everyone.