So you just purchased a new home in a beautiful new neighborhood. This can be one of the most exciting times in your life. There’s only one thing: your new community has a Homeowner’s Association. What can you expect from your new HOA? What are some of the pros and cons? Let’s break it down.
No More Lawncare
Most HOAs provide lawn care services for each home in the neighborhood. That means you no longer will need to break out the weed whacker, lawnmower, or hedge trimmers anymore.
Many HOAs will allow you to customize certain parts of your landscaping like the patio, garden layout, and so on. They might also provide exterior cleaning services as part of the agreement.
You Need to Pay Some Fees
Pretty much every Homeowner’s Association will require residents to pay recurring fees for the services provided by the organization. These are usually monthly payments and can range anywhere from a few hundred to nearly a thousand dollars.
While these prices can be pretty daunting, the HOA fees will go directly to increasing the overall value of the community and the homes inside it.
Not Much Creative Freedom
The main con associated with HOAs is that they restrict residents from changing the appearance of their homes to a certain degree. This could mean only allowing certain plants and trees, restorations, and colors of paint to be used.
If you are looking to have a very unique type of home, especially on the outside, you may want to look for a new neighborhood.
The Community is Close-Knit
One of the best parts of having an HOA is the true sense of community it can bring to the neighborhood. The organization helps get residents involved in benefitting each other and gets everyone on the same page.
Many HOAs will plan events and activities for residents as well. This can mean you will attend more barbecues, pool parties, and game nights in your new neighborhood than you expected.
Money generated by the HOA is also usually invested back into the neighborhood itself. This can lead to things like recreation centers being built and local parks being kept in great shape.
All of these factors lead to the residents of these communities being very tight-knit. Sometimes it may feel like people are in your business a little too much, but most of the time it is because they truly care about their neighborhoods and the quality of their homes.
If the pros of living in an area with an HOA outweigh the cons, get ready to enjoy your new home!