It's not a Doctor Who reference, I'm talkin' real estate! Homes in the Triangle are selling faster than ever before. This October, the number of sales in the 16-county area that
6 Benefits Of HOA Membership
Homeowner’s Associations get a bad reputation. Lots of people hear “HOA” and immediately cringe. But half of the US population lives in a neighborhood with an association, so they can’t be all bad. In fact, there are a lot of good reasons to buy property in an HOA area.
The number one benefit HOAs hold for most people is that they help your home keep its value. There’s only so much protection you usually have from a neighbor who covers their lawn in broken down-cars, someone who leaves their grass growing to mythical heights, and the house down the block painted in tie-dye revival. The HOA can levy fines that help keep the area under control. Your house won’t lose value because of the neighbors’ bad decisions.
Regulations aren’t the sole benefit of HOAs, though. Most of these organizations will provide amenities to the residents as part of their dues. These might include a clubhouse or community center, a pool, playgrounds, trails, or sports courts – things that would be costly to maintain yourself. If you’re the kind of person who likes having access to “extras,” an HOA community is your kind of place.
Typically, in addition to regulations that keep homes looking nice, HOAs make sure common areas in your neighborhood are well-kept. Care for common lawn spaces, amenity maintenance, keeping the street lights on, and maintaining community roads may all be your HOA’s responsibility. In some places, the HOA even takes care of resident lawns and provides snow removal and trash pickup – it just depends on your specific association.
HOA dues may even offset the cost of home insurance. In some communities, your homeowner’s insurance and some emergency repair funds are part of your association benefits. If general upgrades are coming, or homes need repaired due to some sort of natural disaster, or you need animal or pest control, this may be covered by your HOA.
Part of keeping your neighborhood nice is keeping it safe. Whether your HOA community is gated, has a security team, or simply has a neighborhood watch, there is usually some service dedicated to making sure that you and your loved ones are protected.
In an area managed by an HOA, forging a community is one of the association’s goals. They will typically step in to solve neighborly disputes and keep the peace in the area they oversee. You’ll also find many HOAs hosting community events like block parties and barbeques – a great way to get to know your neighbors.
If you’re the kind of person who wants to keep their home about as well-maintained as a nuclear test site or paint it hunter’s orange, you probably won’t do well in a neighborhood with an HOA. If not, research the associations that represent areas where you’re interested in purchasing property. You may find that your lifestyle fits their regulations already, and you can reap the benefits of the HOA peacefully and happily.
Seth Gold brings his life-long passion for real estate and extensive marketing experience to Domicile Realty. As he works with his clients, he is very aware that they are making one of the biggest and....