HOAs explained

HOAs Explained: Reasons & Benefits

Not every community offers HOAs to homeowners, but HOAs are definitely on the rise. In 1970, only 1% of neighborhoods had HOAs. As of last year, 1 in 4 homeowners were part of an HOA according to the Foundation for Community Association Research. When talking about an HOA, or Homeowner’s Association, with friends, it may elicit smiles from some and grimaces from others. Often, people share varying opinions about HOAs, mainly because HOAs can vary from neighborhood to neighborhood. Also, individual homeowners will have different personalities and preferences about what an HOA should offer.

What is an HOA? Rules and membership dues vary, but generally speaking homeowners who live in a neighborhood must abide by its regulations and pay a fee that aids in the management and maintenance of the community in which it serves. Condominiums and townhouses are often part of a homeowners association, but today HOAs also include freestanding homes in neighborhoods. An HOA often pays for maintenance of common space, subdivision entranceway, community pool/rec center, tennis courts and rec centers.

One major benefit of having an HOA is that it helps preserve your community so that it looks its best, functioning smoothly and efficiently. A new trend we are seeing is that instead of annual HOA dues, monthly HOA fees are added to include benefits to the homeowner. Lawn maintenance and even snow removal are part of the community’s HOA, making it easier to enjoy evenings and weekends full of play and family activities, instead of all the maintenance home ownership may entail. In the Edwardsville area, Cloverdale and Brookshire Hamlet are two communities that offer this type of HOA incentive.

Another benefit of buying a home in a neighborhood with an HOA is community appearance standards have to be met. Fines will be imposed if your neighbor’s unkempt lawn becomes an issue or if their siding begins to fall off. With an HOA, you are less likely to see obnoxiously painted homes and landscaping in complete disarray. Some HOAs do also have rules about how many cars are allowed in the driveway or if an RV can be parked on the property.

Association management is also often included with an HOA. The HOA board can help if you have a problem with a neighbor’s dog barking incessantly, for example. Instead of going directly to the neighbor over the dispute, an HOA can assist with the problem and hopefully help you resolve the issue.

How it works. HOA regulations are usually set by a committee or board of directors and can then be enforced by a paid management company or by volunteers. You can even become involved with the HOA in order to have a voice in the decisions being made. When part of an HOA, homeowners can request a rule change or an individual waiver, but there’s no guarantee that the request will be permitted.

You may be thinking, “Well what’s not to like about an HOA?” Overall, an HOA adds value to your home and community. However, for some buyers, an HOA seems too limiting on what they can and cannot do in their neighborhood. Having a management association tell you that you can’t park your camper in the cul-de-sac or place decorative metal sculptures all over your front yard may seem too restrictive to some people. Prior to buying that home in a neighborhood with an HOA, check the regulations because many communities have different rules. If you know that your new community doesn’t allow a certain sized flag hanging from the mailbox before you buy, it won’t seem to be as big of an issue later.

If you are deciding between two homes in different communities, check both of their HOAs. Fees will vary, as well as benefits. Because I am familiar with the many wonderful neighborhoods in our community and the HOAs they offer, I can help you make the right decision concerning which neighborhood is best for your lifestyle. Most of the homeowners that I work with appreciate HOAs and the higher standards that a homeowner’s association provides. By understanding the regulations and fees in every community, you’ll be able to make a more educated decision on which home (and neighborhood) is best for you.

I am fortunate to live and work in such a vibrant community, one that offers a wide selection of neighborhoods appealing to homeowners with different tastes and preferences. I can help you navigate through the entire purchase process, and that includes homeowner’s association information when applicable. If you are ready for a change, give me a call at 618-978-2384 or contact me here. I look forward to working with you and finding you the dream home you’ve always wanted!

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