There's a reason that over 75 million Americans live in HOAs.
If you're thinking about buying a house in a homeowners association, you'll probably wonder what the perks are to doing so. After all, why would anyone pay monthly fees and live under a specific set of rules if there weren't major benefits?
There certainly are benefits of HOA living, so that's what we'll be discussing in today's post. The HOA lifestyle isn't necessarily for everyone, but keep reading and you'll see that the HOA benefits allow you to live a comfortable life in a happy community.
High Property Values
Because so many Americans find HOA real estate desirable, property values are always high. The communities are desirable for a variety of reasons, including well-maintained common areas, community amenities, and the overall safety of the community.
According to Science Direct, houses in HOAs are an average of four percent more valuable than similar homes in non-HOA communities. If you buy a home in an HOA, you're making a worthwhile and stable investment for the future.
Another perk of living in an HOA is the access to amenities in your community. Whether it's well-kept parks and playgrounds or a neighborhood pool, there are always things in place to enjoy recreation in the community.
What's great for HOA homeowners is that they actually have a say in what amenities go into the community. At annual meetings, you'll be able to take a look at the HOA budget and give your input into how HOA fees are used.
While HOA owners are responsible for the maintenance of their own properties, the association takes care of certain things. For one, all maintenance of common areas is outsourced to local vendors, who will come on a regular basis.
If common areas need repairs, such as sidewalks or recreational equipment, the HOA board will arrange that as well. It results in far less work for homeowners who live in these communities.
Rules and Regulations
One of the more overlooked reasons to live in an HOA is that everyone lives under the same rules and regulations. Every HOA has its own set of rules, from quiet hours to parking regulations.
Homeowners always know what to expect under their HOA rules. If a particular household is breaking the rules, other homeowners can notify the board and deal with the problem. In the end, homeowners get to live in a harmonious community because of the regulations.
Experience the Benefits of HOA Living
These are just a few of the many benefits of HOA living. If you're in an HOA and feel like you haven't benefitted in these ways, it might be time to look into association managers. HOA managers can take care of all aspects of running an HOA and help bolster your HOA board.
PMI Silicon Hills is Austin's premier association management service, offering everything from HOA accounting to maintenance and vendor coordination. To learn more about what we do and how we can improve your HOA, don't hesitate to contact us today.