What Are Benefits of an HOA ?

What Are Benefits of an HOA ?

Consider purchasing a home in an HOA for the first time, there are many questions you may have. The most commonly asked question is, what are the benefits of living in an HOA? Here are the top five benefits of having a home in a homeowner’s association. Hi, I’m Rich Barnes, owner/broker of Realty Experts in West Allis, Wisconsin, 53214. Number one, you can help maintain property values since residents are held accountable to deed restrictions, home and common areas are consistently taken care of and well-maintained. Having a well-kept home in a well-kept neighborhood is what makes living in an HOA desirable to a lot of home buyers. Number two, 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 is the number one benefit of living in a well-managed HOA. Number three, community connection through volunteer work. Opportunities to be of service to your community by volunteering to serve on the board of directors is not only a great way to make new friends but it also offers individual members of the association a deeper connection in the community. Number four, added layer of support. When dealing with neighborhood property issues, HOAs often partner with municipal code compliance departments to ensure adherence to the rules. Number five, rules and regulations deter nuisance activity. Each resident who owns a home in the community is held to the same set of standards for upkeeping their home’s exterior, as well as adherence to noise policies, parking restrictions, short-term rental guidelines, et cetera. If you have any questions about HOAs, feel free to reach out, I’m here to help. I’m Rich Barnes, Realty Experts. And as always, you can rely on rich.com. Thanks and have a great day.

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