There are 73 million Americans living in communities with homeowners associations today. That isn’t a coincidence. There are many benefits of being in a homeowners association.
Furthermore, a homeowners association allows residents of a neighborhood to join together and work toward goals that improve the community for everyone.
Although, if you’ve never experienced an HOA community, you may not realize what it involves. But, if you’re considering moving to or starting an HOA community, you stand to gain many advantages.
1. Availability for Amenities
To start, every HOA is unique and each one chooses their own goals. However, HOAs often band together to build and maintain new amenities for the neighborhood, which is one of the popular benefits that families in a homeowners association community tend to enjoy.
These could include swimming pools, fitness centers, and walking trails. In addition, some communities have protective or decorative gates, basketball courts, and tennis courts too. It all depends on how ambitious your HOA is and what you and your neighbors want.
Those amenities give you new ways to enjoy your neighborhood. They can also translate to real savings. For instance, if you can cancel your gym membership to use the neighborhood fitness center instead, it can even put more money in your pocket.
2. A Greater Sense of Community
Next, a neighborhood should be more than a collection of families living near each other. It should be a community you can rely on for friendships and support. In several ways, an HOA can create that neighborly atmosphere. And for some, this is another one of the more important benefits of living in a homeowners association on some peoples’ list.
For one, the meetings themselves give homeowners a chance to get to know each other. It’s an easy way for newcomers to meet everyone and learn the dynamics of the neighborhood.
Second, HOAs bring you all together as you work toward a common goal: a happy community. You get to know your neighbors as people with the same objective as you, not as merely people who live nearby.
Finally, HOAs frequently allow for more neighborhood amenities like shared recreational areas. Using those amenities gives you an opportunity to have fun and build friendships with your neighbors.
3. Benefits of Higher Property Values
This is the best-known advantages of HOAs. The organization will help to raise and maintain your property values. There are several ways this happens. Most notably, HOAs have regulations that require you and your neighbors to maintain your property.
When one or two houses in the neighborhood fall into disrepair, it makes the neighborhood less desirable. Subsequently, it also lowers everyone’s property values. With an HOA, homeowners are required to keep up a manicured look so this decline doesn’t happen.
In addition, if your HOA offers community amenities, this can also improve your property values. It makes your neighborhood a more desired place to live, which translates to higher values.
4. Attracting the Type of Neighbors You Want
Chances are that you’ve heard a person or two talking about how they dislike HOAs. An HOA requires homeowners to follow certain rules and regulations. And sometimes that bothers some people.
This is an advantage to you. If a homeowner doesn’t want to maintain their property, their choices will impact your financial stability by lowering your home’s value. Those are the people who won’t live in HOA communities, and you don’t want them as your neighbors.
In this way, a neighborhood with an HOA will attract homeowners who intend to care for their property responsibly. You’re less likely to have problematic neighbors because they’ll choose to live elsewhere.
5. Recourse for Dealing with Difficult Neighbors
While HOAs do deter problematic neighbors, they don’t prevent them 100%. There may be times when your neighbor isn’t cooperating or is disrespectful of those around them.
If this does happen, an HOA gives you someone in your corner. Instead of arguing back and forth on your own, you can go to the HOA. They’ll be able to inflict penalties for the regulations that the neighbor is breaking.
This can also help you keep peace in the neighborhood. You may be able to put in your complaint anonymously so the neighbor doesn’t know you’re the one who reported them.
6. Benefits of Maintaining a Voice in the Neighborhood
Everyone has opinions about their neighborhood and what improvements they’d like to see. If you have no HOA, though, you have no way to voice those opinions.
For instance, HOA meetings give you a chance to speak your mind and make suggestions. It doesn’t mean your neighbors will always agree, but the forum gives you the opportunity to be heard.
As a result, homeowners with HOAs tend to be more invested in their communities because they feel more responsible for it.
7. Possibility of Fewer Maintenance Responsibilities
Every HOA is unique. And in some cases, there may be fewer maintenance responsibilities. Depending on your community size and HOA fees, some HOAs have the finances to maintain certain parts of the community.
For instance, your HOA may maintain and repair the sidewalks and curbs as needed. They may also care for the berm between the sidewalk and curb. This takes work off your plate because, in many areas, those tasks would otherwise fall on you.
8. Appealing to Future Home Buyers
Lastly, you may not plan to sell your house in the near future. But, when you do, you want to attract as many buyers as possible. This is another one of the benefits you get with a homeowners association.
Buyers know that the HOA will protect their property values, so your home feels like less of a gamble. If your HOA offers neighborhood amenities, it’s even better. Access to those amenities will make your home even more appealing to buyers.
The Benefits of Having an HOA in California
Life is an ongoing balance. Among other matters, you need a balance between freedom and protection. A California HOA does this for your home, which is likely to be the largest investment you make in your life.
A homeowners association keeps you and your neighbors focused on the goal that benefits you all: creating a safe, comfortable, and stable community.
If you’re interested in creating an HOA for your neighborhood, learn more about our HOA management services.