If you’re in the process of finding a new home, you have probably considered a few properties that are part of a homeowners association. Some of the amenities make HOA’s very appealing, but it’s important to know the pros and cons of HOA homes, before you buy.
PRO’s
- Of the Pro’s and Con’s of HOA, an HOA often provides amenities in close proximity to your home such as swimming pools, fitness centers, tennis courts, etc.
- The HOA maintains common areas and keeps the neighborhood looking good, which preserves and/or increases your property level.
- Neighborhoods with an HOA can build very tight-knit communities! Activities and events bring neighbors together, which increases neighborhood pride and engagement.
CON’s
- The dues you pay for an HOA can be hefty.
- The HOA can bring legal proceedings against you if you fail to make your payments.
- You’ll need to adhere to the community guidelines, which can include what color you can paint your home, whether you can build a patio or a fence, etc.
There are many things to consider when buying a new home. Call me and we can discuss them together. I have 20 years of experience and can answer all of your questions.