If you’ve never lived in a neighborhood governed by an HOA, or homeowners association, it may seem a bit intimidating. HOAs are often misunderstood as strict, but their rules can benefit the community as a whole. Living with an HOA has certain advantages, which some people may enjoy.
What Is an HOA?
An HOA is an organization that makes and enforces rules for the properties within its jurisdiction. While many people associate homeowners associations with condominiums, they can also govern subdivisions or planned communities. In addition, HOAs collect fees to pay operating expenses and to purchase or maintain things that benefit the community.
Benefits of an HOA
Your HOA dues are not without benefit. Your homeowners association may provide you and your neighbors with landscaped parks and playgrounds, tennis courts or a clean, well-maintained pool. HOA dues are quite a bargain compared with the cost of installing and maintaining such amenities.
The association is also likely to keep your neighbor from spoiling your view by painting their house purple and orange, or by letting it fall into disrepair. Most HOAs also require everyone in the community to stay current on yard maintenance.
Drawbacks to an HOA
If you balk at restrictions on expressing your artistic and eclectic tastes, an HOA-governed community is probably not for you. While there are clear benefits in many cases, they do come at a cost. Each HOA issues a Declaration of Covenants, Conditions and Restrictions, which will limit the changes you’re allowed to make to your home’s exterior.
Are You Looking for a Home in the Tampa Bay Area?
Call us at 727-584-8480 or 813-961-6000, or you can get in touch with us online. We’ll start searching for a home that meets your needs (with or without a homeowners’ association) immediately.