When you consider purchasing a home within a Homeowners Association (HOA) for the first time, you likely have a lot of questions. The most commonly asked question being what are the benefits of living in an HOA community?
First, it’s important to understand that no two HOAs are exactly alike. The amenities, common areas, the HOA fees, and the agreed guidelines to live by vary from community to community. The individual benefits of these variables may also vary from one homeowner to another.
In a well-managed HOA, there are numerous benefits, and below we have listed the top 5.
1. Maintain Property Values
One of the most lucrative benefits of living in an HOA community is that the association helps to Maintain Property Values by ensuring that residents are held accountable for consistently caring for and maintaining the appearance of their home. The same goes for common areas. Many HOAs have funds available for future common area repairs and capital improvements, which help increase the value of the neighborhood as well as the individual homes. Being part of an HOA means that there’s no risk of a “bad house” on the block that could negatively impact the rest of the neighborhood’s property values. Oftentimes homes in an HOA neighborhood will sell for more than homes in a non-HOA community.
Along the same lines as home appearance, HOAs often require residents to receive approval for any projects that modify the exterior of their home. These review committees ensure consistency and continuity with the original community design standards.
Well-Maintained Common Areas
Typically HOAs do an outstanding job with the maintenance of common areas and amenities. This includes well-manicured lawns, freshly painted walls, clean play areas, great lighting, etc. A neighborhood that looks good helps the community living it in feel good.
2. Abundant Amenities
Condos, single-family residences, and other homes belonging to an HOA often have access to desirable recreational amenities such as walking trails, sports fields, swimming pools, playgrounds, and parks, bbq pits, and much more. Being part of an HOA means that often part of your HOA dues goes toward the maintenance of these facilities so that you have can enjoy access to them.
3. Strong Sense of Community
Being part of an HOA is more than just living in a neighborhood, it also connects you to a greater community. Oftentimes HOAs partner with their management company to host social events such as welcome parties for new residents, or block parties for holidays. These events are a great way to get to know your neighbors and engage in your community in a way that non-HOA homeowners rarely do.
Increased Community Engagement
Your neighbors in our Jenuane communities are the kinds of people who will lend some sugar, a helping hand when moving/carrying something, and help keep an eye on things. Given the HOA will often do all the heavy lifting of planning events and gatherings, your job as the homeowner is to just socialize and enjoy getting to know your neighbors. This aspect is a big part of what makes living in an HOA so enjoyable for so many people.
Increased Community Pride
Community events and activities help bring neighbors together, which has the added benefit of increasing the sense of pride and ownership within your community.
4. Shared Maintenance Costs
Since HOA dues are earmarked for the maintenance of shared spaces, as a homeowner you don’t have to worry about things like lawn care, or the upkeep of common areas like the pool, park, and fitness center. Having this in place adds to peace of mind that everything will be in tip-top shape no matter when you have guests over to take a swim, use the park or just take your dog for a walk.
Unkempt lawns and mountains of broken-down cars pouring out of driveways can really put a damper on how much you love your home. That’s where an HOA comes in. They’ll regulate issues like these so that you can focus on bettering your own property.
Ready to Join an HOA?
One of the many benefits of our Jenuane homes is the incredible communities they’re in! You can enjoy all these benefits of being part of an HOA, while also owning a stunning new northern Nevada home, like these luxury condos in south Carson City!
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