Pros And Cons About Homeowners' Associations To Consider When Shopping For A Home

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When I put my house on the market, nobody told me about the flurry of real estate agent meetings, showings, open houses, and staging appointments. When you add the paperwork, I was overwhelmed. After the process was over and I left the closing, I decided to create a website that focused on all of those things that I didn't know I'd have to do. My goal for this site is to make sure that other first-time sellers have a resource to learn what they can expect from the sale and closing process. I hope that the posts here help you prepare for your first sale with the confidence of an old pro.

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Pros And Cons About Homeowners' Associations To Consider When Shopping For A Home

8 November 2017
 Categories: , Blog


One of the many things that you'll need to determine when you're shopping for a new home is whether a homeowners' association is present. HOAs are common not only in condos, but also townhouses and other accommodations in which your neighbors live in close proximity. It's a good idea to talk at length to your real estate agent about the homeowners' association if one is present for a home you're considering buying. There are several benefits and drawbacks to HOAs, and your agent will be able to help you to assess whether you still want to move forward with the purchase. Here are some pros and cons about HOAs to remember.

Pro: Many Convenient Services Are Covered

Many homeowners' associations put your fees toward providing services that will benefit each of the homeowners. For example, your grass might be cut weekly and your driveway may be cleared of snow after each storm. These services are highly appealing for people who may not have much time to mow their lawn or shovel snow, or those who are elderly and don't want to perform these laborious tasks.

Con: The Costs Can Add Up

When you're considering the purchase price of a house and the probable mortgage payments, you shouldn't overlook the homeowners' association fees. Generally, you'll pay this fee monthly, and it can be considerable. If you can afford the down payment on the house and the mortgage payment, but your money will be tight thereafter, you may not have the financial flexibility to cover the HOA fees.

Pro: You Can Get Involved

Homeowners' associations have boards that residents can join. If you're particularly passionate about the area in which you live, you can join the board — and perhaps even attain a leadership position on it — to share your vision for the community. For example, an ambitious HOA president may advocate using some of the fees toward something that could benefit all of the residents, such as expanding the visitor's parking lot.

Con: The Rules Can Seem Overwhelming

Some people aren't fond of the many rules that HOAs enforce. For example, you might need to maintain a certain appearance of your home, which could limit you from painting the garage door and front door a vibrant color that suits your outgoing personality. If you want to put up a fence because your neighbor is always outside and he or she disrupts your backyard relaxation, you'll need to get approval — and make sure that the fence meets a certain set of criteria.

For more information about properties for sale, contact a local real estate agent.