The Pros and Cons to Having a HOA
Never lived in a community with an HOA (homeowner’s association) and you’d like more information? You’re in the right place to get some answers. There are definite pros and cons to having an HOA. Let’s explore the advantages and disadvantages.
First, it’s essential to understand what a HOA is and how it works. The homeowner’s association is run by a board of directors elected from the homeowner residents of the community. The HOA abides by the rules and regulations set for the neighborhood intended to oversee the common assets of a property/area, manage its finances, run business affairs, enforce and set rules, and see to the maintenance and upkeep of the area.
Not all HOAs are the same so ask questions to learn what is included for the community you’re interested in.
3 Pros of a HOA
- Common Area Management — benefit to living in an established community with a HOA is having the organization manage the upkeep of the common area, the pool area, the playgrounds and barbeque areas, the landscaping, and the community center. All of the amenities are taken care of and the residents can enjoy using these areas as a benefit of living in the community.
2. Home Exterior Maintenance — In some communities the HOA cares for the exterior of the homes. This could include maintaining the roof, fence, repairing or replacing siding, and power washing. Often front of the home landscaping, mowing, and snow removal are covered by the association.
3. Neighbor Mediation — Should a problem arise between neighbors the homeowner’s association can be useful in acting as a mediator to resolve the problem or reduce tension.
3 Cons of a HOA
1. Paying Monthly HOA Fees — The convenience of amenities, activities, and administration to oversee these things come at a cost — monthly dues which are above the cost of your mortgage. Keep these fees in mind as you prepare your home buying budget.
2. Abiding by Rules and Regulations — The HOA sets rules for the community as a whole and violation of a rule or regulation can result in a fine. The association is concerned about the general appearance of homes. This includes the color of your front door and could also include the colors of the flowers in your front garden. There may additionally be restrictions around the types of doors or windows you choose for your home.
3. Cookie Cutter Homes — A characteristic of planned communities can be the homes have similar looks, color schemes, and landscaping. If you prefer a home that looks different, you may not find it. If you want to change the colors on your home, replant, or include various types of yard art, you may not be permitted to make these types of changes.
Before making a final decision on a home in a neighborhood with a HOA, take the time to review the HOA rules and regulations to ensure you can live within its rules. Also consider if the available amenities and benefits are a good fit for your family.
Have questions? Don’t hesitate to reach out. It’s my pleasure to help you weigh the pros and cons of living in a community with a HOA.
Since 2004 Sara Lyn Nguyen continues to bring a wealth of knowledge and expertise about buying and selling real estate around the Houston area to those she serves. Sara is a multi-year award winning REALTOR® and relocation specialist where her clients trust her to have up-to-date information on the real estate market. She has been one of Gary Greene’s Multi-Million Dollar Top Producers and was the #2 Top Producing agent in 2020 citywide. When it’s time to buy, sell, invest, or relocate speak with a trusted professional knowledgeable in the homes and neighborhoods of Fort Bend/Sugar Land and the surrounding region.
