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Healthy neighborhoods and community living seem like pipe dreams, right? Well, dream no more: You can have all of that and more by purchasing a home in a neighborhood with an HOA.
A homeowners association, or HOA, is a planned community that maintains and controls properties in the neighborhood. Usually, they are governed by a board and take input from residents.
Although HOA fees are part of your cost of living every month, they can certainly be worth the cost. Here are some of the key benefits of HOA fees for your home and community.
A Safer Community
Overall, neighborhoods with HOAs tend to be safer. For more upscale neighborhoods or condo complexes, you may even have security checkpoints or guards.
Even seeing security on the property can be a huge deterrent for criminals. If space is consistently patrolled, they might find it unreasonable to try.
For communities with assigned parking, HOA security can also enforce parking. They may check parking passes to ensure that guests don't park in spaces intended for residents.
If you have amenities that are only open to residents, like swimming pools and community centers, security can ensure that only residents have access to those spaces.
Higher Real Estate Value
Real estate values for HOA properties are always higher than their non-HOA counterparts. If you want to move or buy a property as an investment, you can guarantee a higher selling price.
In addition, neighborhoods with homeowners associations are often near better school districts. Healthy neighborhoods include children who feel safe going to and from school while getting a quality education.
Lots of Amenities
One of the best perks of HOAs is the amenities. Although these can vary depending on the neighborhood, some of the most popular amenities include:
- Pools
- Fitness centers
- Community parks
- Barbecue areas
- Business centers
- Dog parks
Collecting HOA fees from residents funds these amenities that everyone can enjoy. The management and board may discuss HOA budgets periodically and decide which amenities are worth the investment for its resident families.
Uniform Appearance
Have you ever had a neighbor who doesn't do their yardwork or painted their house a tacky color? An HOA can take care of all of that.
HOA management has rules for how your home needs to look so it can blend in with the other houses. For instance, if you want to cut down trees in your yard or paint your house, you need HOA approval first.
Many HOA communities have gardeners who can mow lawns, trim hedges, and do basic yard work so all of the homes look pleasing to the eye.
HOA Fees: A Great Investment
If you're in the market for a home, you should definitely find an area with HOA fees. The many advantages make the extra monthly spending worth it.
Ready to find your dream home? PMI Reliant is here to help. Our team of experts can help you find the perfect property in Orem, Utah. Shoot us a message to learn more about our services.
