Having a house of your own is bliss in itself. A lush green backyard, aesthetic outdoors with a good AQI, amiable neighbourhood, & vicinity to the best supermarkets is all you would want in residence. But what about extended perks that ameliorate your housing experience?
Many people have a lot of preferences when it comes to choosing households. Some might like their privacy & would dream of a house situated far away in the lap of nature. At the same time, some might appreciate the decency of a shared community with opportunities galore, like getting to know people around them.
However, moving is not that easy & it does come with certain challenges. But you can see how you can compensate with the comfort of living that your residence can provide at its best. Imagine not bearing heavy expenses for maintaining your lawn or washing your car – these are some examples that you would witness if you settle in an HOA locality.
The Homeowner’s Association allows you to rejoice in a multitude of perks. It is just like living in a community with similar people & pooling resources to benefit all.
What is an HOA & how it works
A homeowners’ association (HOA) is a regulatory body for a planned community, such as a subdivision of single-family residences, condominiums, or townhouses.
Think of an HOA like a landlord or property manager for someone who has lived in a rental property: an agency that takes care of certain features to preserve the neighbourhood and environment in return for a fee and comply with certain rules.
For the record, more than 24% of US households are already residents of an HOA. It is all because of the perks they provide. You will be surprised to know that HOAs contribute to the landscaping of your house, provide pool cleaning services, handle the general upkeep & many more. Some even handle budgets & have rigid guidelines. They’re most popular in apartment complexes, planned developments, and condo communities where people live in close quarters.
With HOAs, you get to share privileges of living in a community & bare minimum responsibilities, like Security & maintenance. Every HOA has some basic rules to ensure that most of its members’ interests are covered.
Living in an HOA: Pros
According to the CAI’s 2018 Homeowner Satisfaction Survey, 85 percent of homeowners are happy to live in a neighbourhood group, with 63 per cent ranking their experience as positive and 22 per cent rating it as neutral.
It is because of many reasons, as enumerated below:
The most beneficial aspect of being part of an HOA is that you get to relax while many of your maintenance chores are taken care of. Every community has something different to offer, but generally, all of them concern maintenance. Being a homeowner, you have to pool in an amount every month for fulfilling such expenses. The HOA can collectively benefit all the members by ridding them of duties like washing their driveways, cleaning lawns, trim hedges, ensuring sanitation in the streets, etc.
Thus, you can relax & get these chores done.
Here are some of the common facilities that an HOA may provide:
- Facilities that are clean and up to date (pools, golf courses, private parks, etc.)
- Well-kept lawns
- Sidewalks that are free of debris
- Hedges that are carefully managed
- Rooms with uniforms and community facilities
- Garbage collection and maintenance
- Repairs of common areas on time
According to Roofingcampbell.com, some HOAs will cover the costs of your roof repairs, which can quickly make HOA membership worth the expense.
Security is of utmost importance nowadays & you cannot compromise with the temporary comfort of not ensuring it. But CCTV cameras are expensive, and not everyone can have them installed outside their house. Thus, HOA has an impressive aspect that offers Security to a homeowner by little participation & contribution.
An HOA can pay for additional Security of collective households, which may include deploying a security guard at the premises or devising strict rules to ensure the safety of the members.
Other laws will protect the home’s integrity by ensuring that homeowners adhere to neighbourhood architectural requirements. You can prevent your neighbours from leaving litter in front of their building, neglecting yard work, or even painting the exterior of their home without permission if you establish rules.
Even if the rules might be rigid, they may help you in the long term in maintaining the aesthetics of your locality & ensuring the safety of the members.
Community building & togetherness:
Any HOA deals safeguard a homeowner’s asset by assuming liability for property problems. In these situations, the HOA body may be responsible for cleaning or removing any mould developed due to a pipe leak, another landowner, or a natural disaster.
Furthermore, HOA groups are perfect for forming local friendships with other residents. People come out of their homes by nearby attractions such as beaches, tennis courts, and gardens, so everyone has plenty of chances to visit & interact with their neighbours.
Thus, HOAs define lifestyles and provide you with an environment of belongingness with the people of your locality. In this way, you have an active social life and higher prospects to grow in the community itself.
Access to facilities:
Most HOA societies pride themselves on their private facilities. Walk trails, beaches, social centres, public parks, and even sports facilities with tennis courts and basketball hoops are examples of these.
So, this was all about HOAs. There are many more pros than you would experience as a house owner, but different HOAs have their terms & privileges. Whenever you decide to settle down in an HOA locality, make sure to browse carefully & match the terms with your requirements.