November 28, 2014

Advantages and Disadvantages of Homeowner’s Association

Advantages and Disadvantages of Homeowner’s Association

If you ask two different homeowners about what they think about living in a community that has its homeowner’s association, you’ll get two different answers. One may say he likes it, while the other one may find it annoying. This is because of the simple fact that a homeowner’s association, otherwise called HOA offers both pros and cons, and below are some of them.

Pros

Some homeowners prefer to live in a community with HOA for several reasons, which includes:

  • Better community appearance. Homes under homeowner’s association are required to meet the standards set by the association or they’ll need to pay a fine. Hence, you’ll usually see these homes are clean, lawns are well maintaining, and walls well painted.
  • Less maintenance cost. Depending on the HOA, they sometimes handle the fees for different services like trash and snow removal, and lawn care, therefore, reducing a homeowner’s stress in maintaining their home.
  • Different recreational amenities. Again, this still depends on the HOA whether they will provide different recreational amenities or not like badminton court, basketball court, swimming pool and the like.
  • Ease of management of common neighborhood problems. For instance, if you have problems with your neighbor who always holds loud parties every night, or maybe they have a dog that keeps on barking, you can address the problem to your HOAs and they’ll be the ones to handle the issue.

Cons

Although the advantages mentioned above seem great, there are also some disadvantages of having HOAs, which includes:

  • Some homeowners find it intrusive. Other homeowners find HOAs invasive because it’s like someone is watching them all the time. As mentioned above, HOAs will make sure that you abide with their standards from mowing your lawn, planting the right type of trees, and the like.
  • Paying yearly dues. Since you’re part of an association, you will need to pay annual dues that will surely add extra costs to your monthly payments. Plus, these fees are not tax deductible and can be increased anytime.
  • Requiring the HOA board approval before selling or renting the home. In some neighborhoods, you will be required to get the approval of the HOA board before you can sell or sometimes, lease the home.

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