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Some people hate HOAs, and others are okay with them. There are certain HOA horror stories or viral battles online, but what is the truth about the Homeowners’ Association? A condo, townhouse, or single-family home in an HOA community could appear to be a great deal, but is it worth it for you? Let’s discuss the pros and cons of HOAs.
What Is an HOA?
A Homeowners’ Association is a board of directors that oversees the management of a community’s public needs, such as lawn care, landscaping, trash pickup, snow removal, and rules to maintain a cohesive look for the community. You can learn more about it here.
Pros of HOAs
Cohesive Housing Community
Without community covenants, anyone could turn their home into an eyesore that could degrade the neighboring properties’ value. Given the possibility, whether likely or unlikely, HOAs have covenants that maintain a cohesive curb appeal that all the members agree to uphold.
Shared Community Upkeep Costs
Similar to renting, HOA communities let an HOA property manager hire out professionals to maintain lawns, streets, sidewalks, trash pickup, etc., for them. The monthly HOA fee covers the maintenance of these features and any others, like community swimming pools, parks, and more.
A Preserved Community
HOAs can protect its community from bad outside influences, such as efforts to develop the surrounding area in a way detrimental to its residents. HOAs can also help foster supportive communities through well-maintained, attractive amenities and events.
Cons of HOAs
Risk of Rising HOA Fees
There is no guarantee that your monthly HOA fees won’t rise over time, just like your home insurance and utility bills. It is important to be able to afford incremental price increases or defend yourself from unreasonable price hikes.
Risk of Unreasonable Property Rules
There is also the problem of poor leadership that gives in to dictatorship rather than servanthood. HOA boards can put unreasonable rules on community members, such as disallowing people to build snowmen in their front yard or to have a front yard fence. You should look into community reviews before moving into an HOA community.
Overall Lack of Professionalism
HOA board of directors can also fail their community by not communicating well, failing to discipline unruly neighbors, being disorganized about finances, and choosing bad vendors.
Trust the Professionals at Clagett Enterprises for Your Realty Needs
If you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, and development and consulting, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook and Linkedin.