Many neighborhoods and residents wonder if they should organize a homeowners association (HOA). Although there are many communities that choose not to have an HOA, as a whole there are many benefits to having an association, which is why so many people choose to live in a community that has one. For instance, here are some of the advantages of living in an area that has an HOA.
1. Stability Of Property Values
One of the main reasons people like HOAs is because they help to keep your property values constant. When you have an HOA there will be a list of rules that you must follow. For instance, the covenants of the HOA will let people know that they can't keep old cars, trailers, and junk in their front yard. This way if one of your neighbor decides to collect things, they can't leave them out in the open for everyone to see.
One of the worst things for a homeowner is having a neighbor who doesn't take care of their property, which decreases the property value of everyone around them. With an HOA you can have peace of mind knowing that if anyone isn't following the rules, they will be fined and punished by the HOA.
2. Better Amenities
When the residents of the community have an HOA they can pool their resources together to get better amenities. For example, if you don't have an HOA, it is very hard to have common areas like swimming pools, tennis courts, parks, and so forth. You need money for the upkeep of these facilities. Thus, if you choose to have an HOA in your area, you will be able to have amenities that would otherwise be impossible.
3. Protected Legally
Lastly, an HOA can help to keep you legally protected. Assume that some of the houses in your development have faulty foundations. The builder who did the development failed to go through all the proper inspections. If you have an HOA, you can have the HOA file a lawsuit against the builder so that the homeowners in the area can get their houses fixed or their money back. If you didn't have an HOA, it would be much harder to file a large lawsuit against the builder.
As you can see, having an HOA is greatly beneficial in many situations, which is why so many community choose to have one. For more information, contact local professionals like J & N Realty, Inc.Share
17 January 2017
Do you absolutely adore your home, but are planning an upcoming move due to a career change? If you’re moving in the near future, you might desperately desire to sell your current home as soon as possible. To help you accomplish this important task, consider hiring an experienced, real estate agent in your community. This individual can help you select the perfect selling price for your house. Your real estate agent can also provide valuable information about staging your home to perfection. For instance, to make your home more inviting, your real estate agent might suggest you purchase new bedding, window treatments, and artwork. On this blog, I hope you will discover how a real estate agent can help you sell your home fast. Enjoy!