When you are considering purchasing a home with an HOA, there are many questions that you may have. The most important question being, what are the benefits of living in an HOA?
HOAs typically do an outstanding job when it comes to maintaining their common areas as well as amenities such as manicured lawns, freshly painted and kept up exterior features as well as appropriately lighting and clean common areas. If the association looks good, the community feels good.
HOAs have many advantages. Residents are held accountable to deed restrictions, which typically means their homes and common areas are kept up and well-maintained. Having a well-kept property, helps maintain property value. This makes living in an HOA desirable to many home buyers. Not to mention, each resident who owns a home in the community is held to the same set of standards for upkeep, as well as noise policies, short-term rental guidelines, parking restrictions, etc.
A well-managed HOA has reserves and funds available for future repairs and improvements. If an association is managed well, this reduces the likelihood of needing a special assessment down the line.
There are many opportunities to be of service to your association by volunteering to serve on the Board of Directors. This is a great chance to build relationships as well as form a deeper connection to the community.
If you are looking to learn more about HOAs or different communities in the Lakes Region, give our office a call today. We would love to help assist you in finding the best community to suit your needs! HOAs are a great opportunity to gather as a community and enjoy activities with your neighbors.