Pros and Cons of the HOA
When shopping for a new home, take into account whether the home falls under the jurisdiction of a Homeoweners Assocation or HOA. Choosing a neighborhood with an HOA is a matter of personal preference with many new homebuyers preferring one way or the other. To help make the subject a little more clear - here are a few Pros and Cons about a neighborhood HOA.
- Home and Neighborhood Appearance: Many HOA's have guidelines that each homeowner must adhere to or risk receiving a fine. This includes yard and home maintenance items, home additions or landscaping changes and parking ordinances. These guidelines are considered a plus by those who prefer a uniform and orderly neighborhood appearance.
- Maintenance: Depending on the HOA, some neighborhood maintenance may be included - especially of community common areas.
- Dispute Management: With a board of directors in place, an HOA can provide a means to neighborly dispute reconciliation when needed.
- Property Restrictions: Some homeowners resent the premise that changes to their home or property will need to be approved by an outside entity such as an HOA.
- Fees: Most HOA's charge some type of monthly or yearly fee for services rendered and community maintenance.