A Homeowners Association, often referred to as an HOA, strives to protect and improve property values for those living in the community. These are non-profit organizations made up of volunteers to enforce rules on what homeowners can and cannot do regarding the maintenance and upkeep of the community.
Homeowner Associations tend to get a bad rep, but there are many benefits to living in a community with an HOA! These communities often have a strong sense of community and work together to ensure that their neighborhood stays well-kept and looks its best.
Does it cost to have an HOA?
When you purchase a home with an HOA, you will automatically become a member and will be required to pay dues either monthly or annually. These fees often cover the maintenance of common areas and amenities in the community, such as tennis courts, golf courses or swimming pools. These fees are often mandatory, so it’s best to factor them in when budgeting for a home.
Who runs the HOA?
As an HOA member, you will be invited to vote for the board of directors who oversee the day-to-day responsibilities of the HOA. These board members typically manage two things, the finances and the rules. Each neighborhood is different, but these rules often include restrictions on landscaping choices, external décor, fencing types, home maintenance standards and more.
If you would like to be involved, it is encouraged to volunteer with the board as much as possible to help plan neighborhood activities throughout the year. Maybe you can even take your turn as a board member!
