Pros and Cons of Homeowners Associations
Perhaps one of the most debated aspects of neighborhood living is infamous homeowners associations (aka the HOA). A quick Google search of “pros and cons of homeowners associations” will bring up thousands of results. Although the phrase “HOA” may typically be said negatively, they do provide numerous benefits to homeowners.
As of 2010, roughly 62 million US residents lived in over 300,000 HOAs. Homeowners associations are comprised of a board of directors, sub-committees assigned to various projects and areas (such as a social committee or a parks and recreation committee). HOAs are also usually made up of all volunteers. The sole purpose of the organization is to maintain the integrity of the neighborhood.
These fees can be monthly or yearly.
The rules (or guidelines) that homeowner associations have for their communities
These rules may come with a feeling of being policed by your neighbors. The rules that HOAs have depend on the neighborhood. They can be as simple as the type of mailbox you have or the color of your fence to being unable to park a car in the street overnight.
If you’re considering moving to a neighborhood with an HOA, contact a board member about the rules to learn more of the details or attend a board meeting. Your realtor, if they’re familiar with the area, should also be able to give you more information.
Maintaining and increasing property value
Although the rules of maintaining your lawn and making sure your mailbox matches your neighbor’s may seem tedious, living in a neighborhood that’s well-maintained and looks nice also appeals to potential buyers.
Not only do they provide them, but homeowners associations also maintain these amenities, such as parks and pools. For example, in Waterford Landings in Richmond Hill, there’s a pool, clubhouse, park, basketball court, and large stretches of walkways. The HOA helps keep these areas in tip-top shape for residents to enjoy.
Maintain the greenery of the community
HOAs also maintain the greens, shrubbery, and overall look of the neighborhood. The residential fees are usually used to hire a landscaping company to keep up the appearance of the communal land in the neighborhood, which includes trimming bushes and trees as well as planting new flowers in the spring, for example. If there’s an issue, such as the roots of a tree disturbing the sidewalks, then the homeowners association kicks into action and fixes the issue.
Some communities, such as Buckhead in Richmond Hill, have cameras installed in the main parts of the neighborhood to provide an extra level of security for residents and to aid police if any vandalism occurs (or any other incident they may happen).
The social arm of the neighborhood
HOAs host community events from neighborhood-wide garage sales to holiday parties and parades. They may also give out a welcome kit to new members of the community.
HOAs were created to bring a neighborhood together, make the community look nice for individuals hoping to sell their home (or move in), and maintain the amenities and yard work. These organizations thrive on participation. The more voices, the more help, the more that they can potentially provide for the neighborhood. Although the concept of an HOA may not be something that everyone can get behind, HOAs do provide numerous pros to offset any cons.
Time to Make a Move
If you’re ready to move to a homeowners association, then it’s time to contact a realtor who’s incredibly familiar with the greater Savannah area and can help you find the perfect home for you and your family. If you’re interested in open houses in the greater Savannah area. We’d love to talk with you because no one knows Savannah better than us.