HOA vs. Non-HOA, Which is Best for your Needs?

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Buying a home in a neighborhood with a Home Owner’s Association (HOA) works well for some families, while others find the HOA to be burdensome or intrusive. Learning more about what an HOA is, how it works and what to expect can help you determine if your next home should be in a neighborhood with a homeowner’s association.

What Is a Homeowners Association?

When builders or developers create planned communities with ameneties, they often also create a homeowners association to help manage the shared areas of the property when the building is complete. The homeowner’s association has some powers over the people who live in the neighborhood and is also responsible for maintaining the look and integrity of the community. Anyone owning a home in the community must also pay HOA fees for the services rendered. Dues can be paid monthly quarterly or annually and are determined by the association itself and its bylaws.

If you buy a home in a neighborhood with an HOA it is important to discover what rules are in place and what expectations the HOA has of residents. Some are far more involved and assertive than others, with rules for trashcan placement, yard maintenance and even parking. You should know what amenities you’ll have access to when you join the community and how your fees will be spent.

Since HOA fees are an added expense, they’ll also be considered when you apply for a mortgage, so be sure to factor them in when you work out what you can afford.

Benefits of Living in a Homeowner’s Association Community

Communities that have an HOA in place are generally well maintained; the HOA is responsible for caring for public areas, landscaping, sidewalks and some roadways. You won’t have to worry about living in a messy or unsightly neighborhood when an HOA is in place.

A pool you don’t have to care for, tennis courts to use on demand and even a clubhouse for parties and get togethers are big draws for some homeowners, if these things matter to you, you’ll enjoy this type of community.

A community with an active and healthy HOA will likely have groups and social gatherings. In some HOA groups, clubs, celebrations and welcomes for new members are scheduled throughout the year. If you want a close knit, involved community, then the right type of HOA may serve your needs well.

Drawbacks of Living in a Homeowner’s Association Community

The biggest drawback of living in an HOA community is having to cope with rules that you don’t agree with or that put a burden on your family.

For many homeowners, the HOA determines what colors a home can be, how often the lawn should be mowed and even what holiday decorations are acceptable. If you prefer making these decisions for yourself, you may not enjoy an HOA neighborhood.

You may not be able to make some improvements to your home; your HOA will determine if you can create an addition, add a fence (and will specify what kind of fence you can have) or even rent out your property. Homeowners who might want to expand their home, renovate or even have kids or get a dog may find that the rules for fencing and building are too stringent.

In some cases, an HOA has the power to levy annual fees or costs for construction projects and bill homeowners for the work. In some communities, this can run into the thousands of dollars per home. You should be aware of this possibility and determine if the HOA has to power to charge members for capital improvements before you buy.

Is an HOA Community Right for You? 

If amenities and low care public areas matter to you and you don’t have plans for ambitious renovations or home changes, then an HOA neighborhood could suit your needs. If you generally dislike having rules imposed on things you own or feel uncomfortable having to request permission to make changes, the HOA may be more of a burden.

Review the rules and bylaws of any HOA you are considering buying into to be sure you fully understand what to expect before you make a purchase. You’ll be able to enjoy the neighborhood without any unwelcome surprises or costs when you know what to expect.

House Inspections: Here’s What Buyers Need to Know

A home inspection is one of the final stages of the property buying journey. If an inspection goes according to plan, a buyer may be able to seamlessly close on his or her dream residence. On the other hand, if problems are discovered during a house inspection, these issues may slow down or stop a home sale.

For property buyers, it helps to plan ahead for a home inspection as much as possible. Thankfully, we’re here to help you do just that.

Now, let’s take a look at three things that every buyer needs to know about home inspections.

1. A home inspection typically is performed after a seller accepts a buyer’s offer to purchase.

With a home inspection, a buyer can review a house with a property expert and identify any underlying problems. If a buyer finds problems during an inspection, this individual can rescind his or her offer to purchase, modify the offer or move forward with a home purchase.

It typically helps to hire a highly qualified and experienced home inspector. By having a skilled home inspector at your side, you can gain the insights you need to determine whether a house is right for you.

2. A buyer is not required to go to a home inspection, but it generally is a good idea to attend.

Usually, a buyer, his or her real estate agent and a home inspector will walk through a house together during an inspection. It also is important to note that a buyer is not required to go to an inspection, but in most cases, it is a good idea for a buyer to attend.

A buyer who attends a home inspection may be able to receive home insights that he or she won’t necessarily find in a house inspection report. As such, this buyer can obtain the house insights that he or she needs to make an informed homebuying decision.

3. A home inspection may require several hours to complete.

There is no time limit for a house inspection, but an average home inspection takes several hours to complete. After the inspection is finished, a property inspector will prepare a report that details his or her findings and provide it to a buyer within a few days. Then, a buyer will need to review the report and determine how to proceed.

As a buyer gets ready to enter the housing market, and eventually, perform a home inspection, it helps to hire a friendly, knowledgeable real estate agent. This housing market professional can help a buyer find the right home, submit a competitive offer to purchase and conduct an in-depth home inspection. And after a buyer completes a successful home inspection, a real estate agent will help this individual navigate the final stages of the property buying journey.

Simplify the homebuying process – employ a real estate agent, and you can get the help you need to locate and purchase your ideal residence.