If there’s anything most people know about homeowners’ associations, it’s that there are rules to follow and dues to pay. And while all this is true, the rules and regulations set forth by the association are there for a reason—to make any community not only pretty, but also an all-encompassing wonderful place to live. And it truly is a great place to live for many reasons, but here are our top six benefits to living in an HOA:
1. Consistent property values.
One of the main reasons people buy into an HOA is due to the consistency of property values. A board is there to help you protect your investment—and ensure that investment maintains its value. All owners must comply with the community laws related to the upkeep of their lawns, homes, and personal property. This is not only for a homeowner’s benefit, but also for the benefit of the entire community. Board members live in the same association, and they want to see it thrive as much as you do.
2. A culture of activity.
In a community with an HOA, there’s something for everyone to do. From barbecues to board meetings and committee involvement, there’s plenty of opportunities for neighbors to get together, meet each other, create personal bonds, and do good for their community. It’s an environment that fosters engagement in fun activities and association duties.
3. Sense of belonging.
The biggest emotional benefit is a real sense of togetherness. Whether it’s a condominium or a master-planned community, you, your neighbors, and your association team are in it together. This benefit can be especially crucial for people who don’t have family close by, as neighbors often become their chosen family. Additionally, those who live within a community often have similar lifestyles, which helps build comradery.
4. Selection of amenities.
Depending on the type of community you live in, you can be sure to find amenities that suit your lifestyle. Walking paths, pools, recreational areas, gyms, and parks are all the amenities you’re likely to find in many communities. Great for families, seniors, and young adults, there’s a community that you can feel happy living in.
5. Standards of compliance.
There are guidelines that all homeowners must comply with, and buyers should make themselves familiar with the governing documents before signing on the dotted line. Typically, associations will not tolerate unruly behavior—whether it’s a rambunctious late-night party in someone’s backyard or a clear disregard for architectural rules. There’s a board set in place to mediate neighbor disputes and set forth consequences when things go wrong.
6. Common area maintenance.
A well-maintained community isn’t just nice to look at, but also easy to live in. There’s harmony and peace that derive from trimmed trees, blooming flowers, and a garbage-free landscape. A community’s wellbeing is important, and knowing that these services are taken care of eases the burden of homeownership.
So, Are You Ready?
There are many benefits of living in an HOA, but do you really know if you’re prepared for the lifestyle? Moving into a community governed by a homeowners’ association is a very big decision. Check out our post, “Are You Prepared for Homeowner Association Life?” to find out if it’s the right fit for you.