Top 10 Benefits of Living in an HOA
There are numerous benefits to living in a well-managed HOA, below is a list that we have identified as the Top 10 Benefits.
10. Architectural Controls – Residents are required to submit for approval any modification projects to the exterior of their home. The Architectural Control Committee (ACC) reviews each submittal to ensure consistency and continuity with original community design standards.
9. Increased Community Engagement – Community gatherings and activities such as Movie in the Park or holiday themed festivals bring neighbors closer together.
8. Access to amenities – Many communities feature walking trails, sport courts, swimming pools, barbecue pits and neighborhood parks that are available to resident use.
7. Well-Maintained Common Areas and Amenities – HOAs typically do an outstanding job of maintaining their common areas and amenities. This includes manicured and over-seeded common area lawns, freshly painted walls, lighting that works and clean play areas, etc.
6. Increased Community Pride – Community activities and events help bring neighbors together, which increases pride within the community.
5. Rules and regulations deter nuisance activity – Each resident that owns a home in the community is held to the same set of standards for the upkeep of the exterior of their home.
4. Added layer of support in dealing with neighborhood property issues - HOAs often partner with municipal code compliance departments to ensure adherence to the rules.
3. Community bonding and communication among neighbors – A great way to make new friends and offer a great sense of community.
2. Financial stability – A well-managed HOA has a reserve study in place and funds available for future common area repairs and capital improvements, thereby reducing the likelihood of needing a special assessment.
And the number one benefit of living in a well-managed HOA…
1. Helping maintain property values – Since residents are held accountable to deed restrictions, homes and common areas are consistently taken care of and well-maintained.