Should You Buy a Home in a Neighborhood with a Strict HOA?

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Should You Buy a Home in a Neighborhood with a Strict HOA?

A strict HOA can be a hassle. It may enforce requirements regarding the paint color on your home, the number of trees allowed in your yard and other factors. This type of HOA may send you several violation notices each year about things that seem rather nitpicky. At first glance, it makes sense to avoid moving into a neighborhood with this type of HOA, but a closer look reveals that a strict HOA provides essential benefits.

1. Maintaining the Community’s Appeal
HOA rules are established partially to ensure that the community continues to look amazing for years to come. Community appeal can be damaged by even a few homes that look dilapidated or by rundown community amenities. When the neighborhood’s appeal deteriorates, you may be less satisfied with your living experience and challenged when the time comes to sell your home.

2. Caring for Community Amenities
The condition of community amenities affects how much enjoyment they provide to you and how frequently you use them. Your safety and property values may also be impacted by rundown amenities versus those that are well-maintained. A strict HOA upholds requirements to keep these amenities in excellent condition and to collect the funds necessary to do so.

3. Promoting Superior Property Values
Some people believe that home value is mostly determined by the condition of the home, its style and its amenities, but the community must have desired traits as well in order to capture a buyer’s attention. Because the HOA directly affects the amenities in and appeal of the community, it likewise affects property value and your ability to sell the home more easily in the future.

Through our extensive real estate experience, we have the knowledge and insight to help you locate a community that is suitable for your needs and that upholds HOA restrictions. Contact us today to begin your new home search.