iowahomeloans

Pros of Homeowners’ Associations

Posted on: September 11, 2012

When many people consider living in a homeowners’ association, the first thing that comes to mind is the negative considerations of buying within this type of community. But homeowners’ associations actually offer a lot of benefits, which people frequently overlook. If you’ve been thinking about buying within a neighborhood governed by a homeowners’ association, here’s what you need to know about the upsides of this type of community:

 

Pro: Property Values are Retained

One of the biggest upsides of a homeowners’ association is that it helps retain your property values, by eliminating negative elements and ensuring the properties are well-maintained. This is a huge boon if you think you might want to sell your home in a few years; you’re more likely to be able to sell at or above what you pay if you’re part of a homeowners’ association.

 

Pro: You May Have Neighborhood Amenities

If you live in a homeowners’ association, you may have access to community amenities, like a playground, a pool, a community center or other common areas you can enjoy. These amenities are typically only for association members and their guests, which means they’re often less crowded and may be better maintained than public amenities. And as a member of the association, you also have a say in the amenities; you can suggest or vote for new amenities, or upgrades to existing amenities.

 

Pro: Homeowners’ Associations Prevent Eyesores

One of the biggest upsides of homeowners’ associations is that they require people to maintain the property, which means no knee-high grass. The rules about what color you can paint your house, how high your fence can be and other common homeowners’ rules can help enforce a uniform appearance and prevent eyesores.

 

Pro: Enjoy a Developed Sense of Community

Homeowners’ associations often host social events that can help foster a sense of community within your neighborhood. These events may range from movie nights to community garage sales – it all depends on the neighborhood. But this can be a great boon if you’re moving from a different part of the country and don’t already have friends in the area.

 

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