The pros and cons debate of living in a housing development with a homeowner’s association (HOA) has been going on for decades. As with most aspects of home buying, the final answer is that it’s a personal preference, but there are some important nice advantages which come with an HOA.
There are many benefits to owning a home with an HOA: for one thing the same restrictions and rules that you might find limiting also limits your neighbors from doing things which could pull property values down.
- Community Appearance and Standards – All aspects of the community will be monitored by the HOA.
- Low Maintenance Costs – Depending on the HOA, often the front yard landscaping and other maintenance tasks will be handled by the HOA, such as trash and debris removal.
- Association Management – The HOA management control varies from one association to another, but all provide some level of authority over the community and its appearance and upkeep.
- Higher Home Values – Home values are often higher in housing development with a HOA than those without.
The HOA will have policies in place to prevent a property or area to become neglected or unattractive.