Have you ever considered living in an HOA community or wondered what it’s like? As soon as you move into a home where an HOA is established, you become a member of that HOA. That means you’re responsible for paying fees and assessments, following community rules, and making decisions regarding the community. It also means you gain access to shared amenities and live in a well-maintained area. These are just a few of the pros and cons of living in an HOA community. Read along to learn more about them.
Key Takeaways of This Article:
- A homeowners association (HOA) is an organization within residential communities that enforces rules and maintains common areas, funded by resident dues.
- Living in an HOA community offers benefits like well-maintained common areas, amenities, and higher property values, but it also comes with drawbacks such as mandatory fees, restrictive rules, and the potential for poor management.
- Living in an HOA community requires weighing the convenience of a well-maintained environment against the costs and restrictions imposed by the HOA.
What Is an HOA?
A homeowners association is an organization within a residential community that makes and enforces rules for the properties and residents. That said, they’re most common within condominium complexes, subdivisions, or planned communities. Residents living in an HOA have to pay dues to fund maintenance, amenities, and administrative expenses.
In turn, the HOA manages the community’s common areas and enforces rules and regulations, keeping properties and common areas well-maintained. HOAs usually have a board of directors who are elected to oversee and enforce rules within the community. They also have Philadelphia property managers to ensure things are running smoothly at all times.
While HOAs provide benefits like well-maintained common areas and excellent community amenities, they also charge fees and place restrictions on homeowners. Today, we’ll review all the pros and cons of living in an HOA to help you make an informed decision.
Benefits of Living in an HOA Community
If living in a relatively low-maintenance, well-maintained, and predictable neighborhood is something you’re looking for, an HOA might be right for you. Here are a few benefits of living in an HOA community.
- Well-Maintained Common Areas
- Access to Amenities
- HOA Resolves Neighborhood Disputes
- Opportunities to Socialize
- Potentially Higher Property Values
Well-Maintained Common Areas
HOAs maintain common areas like parks, playgrounds, sidewalks, and landscaping. This helps ensure these spaces are consistently clean, safe, and visually appealing. So, you get to enjoy these areas without worrying about the upkeep! Typical maintenance tasks that HOAs take care of include lawn care, trash removal, repairs, and more.
Access to Amenities
One of the largest benefits of living in an HOA community is the amenities. Many HOAs offer shared amenities like swimming pools, fitness centers, clubhouses, and more. These areas give you access to recreational facilities you might not otherwise have, which can significantly enhance your quality of life. If they’re there, you might as well use them!
HOA Resolves Neighborhood Disputes
Whether you’re dealing with a neighbor’s barking dog or staying up all night because of a loud party, you don’t have to confront your neighbors. Another major perk of living in an HOA community is that they have a certain way of handling disputes. If you’re having an issue with a neighbor, the HOA can mediate and prevent conflicts from escalating. This helps to preserve relationships with your neighbors and ensure a peaceful living environment for all.
Opportunities to Socialize
It can be difficult to meet new people when moving to a new area. However, HOAs often organize community events like holiday parties, garage sales, or block parties, allowing residents to socialize with others. These events allow you to meet new people, socialize, and even build long-lasting friendships.
Potentially Higher Property Values
If you ever want to move, living in an HOA community can help you get the most for your property! After all, homes in well-kept communities with attractive amenities tend to be more desirable to buyers, leading to higher market values. Additionally, by enforcing community standards and maintaining common areas, HOAs help preserve properties and neighborhoods.
Disadvantages of Living in an HOA
While there are several benefits to living in an HOA community, there are some disadvantages to acknowledge, too. If you’re weighing the pros and cons, here are some more considerations.
- Paying Fees and Assessments
- Following Rules and Regulations
- Less Privacy
- Potentially Poor Management
- Less Room for Personalization
Paying Fees and Assessments
When living in an HOA community, you must pay fees, sometimes monthly or annually. While these fees fund the maintenance of common areas, amenities, and operational costs, they can be quite substantial. Additionally, HOAs can charge special assessments for unexpected expenses, which are mandatory to pay and can add to your overall cost of living.
Following Rules and Regulations
HOAs generally have a lot of rules and regulations to follow. Although most of them are beneficial and necessary to maintain the community’s appearance, they can be restrictive. For instance, you may not be able to paint your home the color you want or decorate the outside how you want, and they may even restrict what types of vehicles you can park outside your home.
Less Privacy
Most HOAs are in planned communities or condominium complexes, meaning you’ll be close to your neighbors. If you’re looking for a home that doesn’t essentially share a yard with your neighbors, you may want to look at other options. Additionally, homes in HOA communities often need to be inspected to ensure they meet the rules and regulations. So, your home will likely be looked at more often than homes in neighborhoods without an HOA.
Potentially Poor Management
If your HOA has poor management, living there could be a nightmare. That said, it all depends on the board members and management company. Luckily, there are some great Philadelphia HOA management companies. However, it could be extremely frustrating if you’re stuck with a bad one on top of incompetent board members.
Less Room for Personalization
As stated above, there are typically rules and regulations about the appearance and modifications of properties, lawns, and driveways. Unfortunately, this means homeowners have less freedom to personalize their properties as they normally would. For instance, you may be limited on which colors you can paint your home, your landscaping choices, and additions like fences or sheds.
Should You Live in an HOA Community?
HOAs aren’t for everyone. Finding the right HOA might be for you if you like the convenience of living in a well-maintained neighborhood with fun amenities. However, knowing about HOAs and how they work before buying a property in one is essential. Be prepared to pay regular dues and fees, follow regulations, and participate in community events. If you don’t like the idea of paying to live somewhere and want more creative control over your property, you may want to look elsewhere.
Learn More About HOA Management in Philadelphia
Are you weighing the pros and cons of living in an HOA community? It’s important to consider all aspects of what it’s like to live or own properties in a homeowners association. Additionally, it’s crucial to find an HOA that’s managed properly. Poor management can really make or break your experience while living in a homeowners association.
Need More Advice? contact us today!
That’s why property owners in Philadelphia choose Bay Property Management Group for their HOA management needs! Our team of experienced professionals helps local HOAs organize meetings, collect dues, plan finances, perform maintenance, and much more. If you need help managing your Philadelphia area Condo Association, HOA, or Cooperative Housing, contact BMG today!
