One of the most important things to consider when purchasing a home is whether you want a property that fall under HOA management. For some people, this is a great choice that can ensure their property values do not go down and that their neighborhood looks tidy all the time, while for some other people HOA management can be more of a hassle than anything is. If you are not sure where you fit in, we have gathered the pros and cons of homeowner associations so that you can decide whether or not they are a good choice for you and your family.
- Great-Looking Neighborhood: One of the best things these management companies offer is a way to keep a tidy aspect in the neighborhood. They monitor front yards to ensure the plants look good and that homes are painted one of the approved colors. No one wants to live in an untidy street, so HOA management ensures that this does not happen.
- Maintained Amenities: If your neighborhood has a park or any other type of amenity, then a property manager will ensure that these amenities are well-maintained. This is what your fees go toward, allowing you to enjoy a pool or a park without worrying about its upkeep. In areas where it snows, the association is the one in charge of removing it from common areas, saving you a lot of stress while still letting you enjoy the amenities.
- Property Values: You want your property’s value to remain high. Living in a neighborhood that allows homes to fall into disrepair lowers property values, which is one of the reasons why so many people prefer homes that fall under HOA management. If you are planning on reselling the home in the future, the best thing you can do to maintain values high is to buy a home under property management.
- Fees: Living in a property that falls under HOA management means paying a fee. Some of them are broken up into monthly fees, while others prefer to charge yearly fees. Not everyone is willing to have to pay fees on top of all of their other bills, so this is something to consider.
- Lack of Freedom: If you are someone who likes eccentric decorations or who likes your front yard to have lots of plants hat grow freely, the association can be a mistake. They do not allow these things, so you will end up having to do as they say or pay fines.
When deciding on a property, it is important to weigh the pros and cons of living in an area that has a property manager. If you prefer to have more freedom in how you decorate the front of your home, then choosing a home that does not have HOA management is a good idea, while if you want a tidy neighborhood with a sense of uniformity, you will want to consider a home with a property manager. By taking into account all of these things, you will be able to make an informed decision.