Are you considering purchasing a home within a homeowners association? Maybe you're part of an HOA board and the various responsibilities seem daunting.
Not to worry. Whatever your circumstances, knowledge is power and relief from undue worry. Here are several of the most compelling reasons why homeowners associations are a major positive.
1. Protect Your Property Value
One of the most irksome things homeowners face is the devaluation of their home because of a "junkyard" neighbor. This is especially frustrating when you've invested money and time in preserving or improving the value of your own home.
Fortunately, when you're a member of a homeowners association, your property value is protected. All those living within the HOA must agree upon deed restrictions. They are then held accountable for abiding by them.
An HOA means, you will have a well-maintained home and your neighbors will too.
2. Prevent Nuisance Behavior
Do you dislike rowdy parties at 2 am? Your neighbors might not ... luckily when you own property within a homeowners association, everyone is held to the same standards regarding:
- Noise policies
- Short-term rental guides
- Pet ownership
No more worrying about the neighbor renting out their basement to college students (if it's prohibited in your HOA). No more stressing about neighbors letting their 5 dogs run loose without a leash. No frustration about not being able to park in front of your own home because someone down the street is hosting a reception and 30 cars are parked.
As long as your HOA has regulations regarding such items, you are protected from irritating issues like these.
3. Great Community Amenities
Are you looking for a home with a neighborhood pool, gym, or playground? One of the biggest perks of an HOA property management company is that you can have these local amenities and they can be well maintained.
Beautiful common areas promote a sense of unity and pride within a neighborhood. They help you get to know your neighbors. They provide a place for residents to gather and socialize.
Ideally, when you have a management guide or HOA, residents feel more responsible for making sure common areas are well-kept.
Your neighborhood may be more likely to have bike trails, barbeques, basketball courts, or other desirable amenities because an HOA ensures there is a budget to provide for the construction and maintenance of such things.
A homeowners association can also be responsible for budgeting and planning holiday or civic events that also bring your community together. When deciding whether an HOA is right for you, think about the lifestyle you want and determine whether that's possible without one.
Managing Your Homeowners Association
The right homeowners association can provide endless benefits to any property owner. The trick is knowing how to manage regulations and communicate effectively. If you still have questions about what an HOA might entail, how to set one up, or why buying property within an HOA is a good idea, our team of experts is happy to answer your questions.
Contact us today and find out what Invest West Management, LLC can do to help your HOA.