Five Advantages of Living in an HOA Community

Picture this: you arrive home after a tiring day at work only to find your trash bins still sitting outside, full and spreading an unpleasant odor. Attempts to contact your local service for a pickup go unanswered, and you fear it won't be long before raccoons show up for a feast. Living in a privately owned home or apartment can often come with such challenges. But why endure such issues when there's an alternative? Have you thought about the benefits of living in a homeowners’ association (HOA) community? You're certainly not alone if this thought has crossed your mind. Over the past four decades, the number of community associations has grown tremendously from around 10,000 to over 320,000. Many HOA residents report positive experiences, expressing satisfaction with their governing boards, investment returns, and supportive community rules. Here are five reasons why transitioning to an HOA or condo community can alleviate stress and enhance your daily life.

Benefit of Collective Management

Have you ever dealt with neighbors who paint their homes in glaring colors or let their yards turn into weed jungles, affecting the appeal and value of your property? In a private home, addressing these issues relies on local government intervention. This isn't a concern in an HOA community. These communities have established guidelines within homeowner agreements to maintain property beauty and value. The HOA board, set up by the community, works to enhance residents' lifestyles by ensuring compliance with these standards.

Private Public Functions

Consider that earlier trash removal scenario. Such annoyances are less common in HOA communities. Local governments, often stretched thin financially and logistically, might not address services like trash pickup promptly. In contrast, HOAs manage these responsibilities—trash removal, road upkeep, stormwater management, snow clearance—ensuring they are timely and reliable. Residents pay fees explicitly for these services, freeing them from dependence on municipal performance, while also easing local tax burdens and potentially fostering the development of more communities like these.

Affordable Home Ownership

Conversation around home ownership in the U.S. often notes its decline—from 69.1% in 2005 to 64.8% in the first quarter of 2014. Many people, especially diverse groups like minorities, women, and immigrants, find accessible home ownership options in housing communities, notably condos. These settings offer affordable opportunities, essential in today’s economic climate, and are particularly appealing to first-time homebuyers. HOA and condo neighborhoods are becoming inviting, affordable housing options across North America.

Minimizing Costs and Building Community

Though this may seem like two distinct points, they are intertwined. HOA members share the responsibility of maintaining property value and addressing concerns without formal governmental interference. This collective responsibility fosters a strong community spirit. Moreover, community associations often organize activities such as holiday parties, social clubs, and recreational events. These gatherings help residents bond, reinforcing a communal atmosphere among the estimated 62 million people living in HOA or condo communities.

Amenities, Opportunities, and Options

Being part of an HOA or condo community opens up a realm of advantages and amenities rarely available to private homeowners. From marinas and swimming pools to golf courses, these features enhance the appeal of these neighborhoods. Associations may also handle gutter maintenance, lawn care, and other property services, increasing the convenience of living in such communities. Additionally, diverse living options are available, including age-restricted areas and pet-friendly environments, providing a perfect fit for various lifestyles.