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What are the pros and cons of an HOA?
What are the pros and cons of buying in a homeowner's association neighborhood? I'm moving to a new area where they seem more common. This is new to me and seems like an extra cost with a lot of extra rules. And all the shows on TV make it seem kind of ridiculous. I know that's an exaggeration, but still.
Asked By Emily | Naples, FL | 83 views | Buying | 9 months ago
Answer(4)
Lisa and Greg Harris
eXp Realty, LLC
THE HOA all depends on the area and the type of home/ condo. I highly recommend that you reach out to a LOCAL REALTOR to give you better direction on the HOA Details. Some are VERY strict and have high fees, but they are there to protect the home values so that an owner next door does not put a car on blocks in the front yard.... or paint the house purple.... We have some in our area, that are simple and not over the top and we have some that are over the top! So check with your local REALTOR to give you the details. and KNOW before you buy!
- 7 months ago
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Jamie Merwin
ZMD REALTY
Peace of mind can come with owning in a HOA community, knowing that the value of your home is being protected. One of the core objectives for HOA’s is to preserve, and grow, property values for homeowners. With a home being the most significant purchase many will make, having a team of board members and property managers looking out for it is a great benefit.
- 8 months ago
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John Dean
Engel & Volkers
HOAs are great if you do not wish to handle many things, like maintenance. They also provide amenities like pools, security, and other services. They can be helpful. On the flip side, some can be a bit overbearing. I would recommend that you review meeting minutes and the bylaws before purchasing in any association.
- 8 months ago
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Matt Holley
Nhimble Homes GA
Hi Emily, there are possibly many pros and cons to an HOA which is subjective. I would say a Pro is that there tends to be more structure and order in an HOA community as they generally will have set standards for certain things. This could help with home values. A Con would be that you will have to abide by a set of rules that may or may not appeal to you. They can essentially tell you how to treat your property, and some HOA officials take their job SUPER seriously. Hope this helps!
- 8 months ago
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