SCHNEIDER Real Estate, Inc.
Roger Schneider, SCHNEIDER Real Estate, Inc.
Email: [email protected]

Why Buy in a Community with an HOA?

by Roger Schneider 05/09/2021

Photo by Pixabay from Pexels

Homeowners associations are common features of new residential subdivisions, condominiums and townhouse developments, planned communities, and vacation resorts throughout the United States and abroad. Typically established by the builder or developer, such associations are most often responsible for maintenance of common facilities. They also frequently oversee the operation of community centers, pools, golf courses and sports courts, and can assume responsibility for routine repair of streets and/or sidewalks, building exteriors and roofs, and even front yard landscaping and upkeep.

Residents pay a monthly fee to the association, in addition to mortgage, taxes, insurance and utilities on their individual properties. Most commonly, the day-to-day operation of a homeowners association will be managed by an independent firm, with oversight from a governing board of homeowners elected to serve, unpaid, for specific terms. 

Pay Attention to the CC&Rs

Buying a home in a community with an HOA requires that residents agree to the covenants, conditions and restrictions, known as the CC&Rs. Rules can be relatively simple, outlining the types of fencing allowed or specifying allowable trim colors and landscaping plants. Some HOAs, however, have stringent restrictions, governing varied aspects of community living. Some actively promote community programming while others simply act as a review board to handle disputes or non-compliance with stipulated regulations. 

Withholding payment of association dues can lead to legal action, sometimes even foreclosure.

HOAs Uphold Community Standards

Prior to buying property in a subdivision with an HOA, a buyer should be completely familiar with the CC&Rs  and understand the financial commitment entailed. All HOAs are committed to uphold community standards and protect property values. That is perhaps the best reason for buying property in an area that has a well-managed, effective and highly-functioning HOA. But it is always up to the buyer to determine the effectiveness of any HOA. The best way is to ask to view previous years' financial statements, and to talk to current owners.

The best homeowners associations foster a heightened sense of community, encouraging social events and offering services to promote safety and security for residents. Neighborhood watch programs, community patrols and emergency response, rideshare programs, and youth-oriented activities are common. In addition, well-run associations have financial reserves to handles unexpected maintenance or repair needs and have a "comfortable" relationship with homeowners.

HOAs were first established to govern the operation of condominium associations, and have sometimes received a bad rap from owners who found them restrictive and expensive. The role of the HOA has changed over the decades, and most are professional and dedicated to the welfare of current and future homeowners. They actively promote and encourage neighborliness, cohesive community spirit and property values.

Belonging to a homeowners association fosters a valuable common bond with other owners, and offers homeowners a real voice in the community.

About the Author
Author

Roger Schneider

SCHNEIDER Real Estate, my family's business has been at the forefront of our area's Real Estate transactions for over 40 years! With experiences in the following areas; St. Charles, St. Louis, Lincoln, Warren, Jefferson County, I help both buyers and sellers meet their real estate objectives. I have extensive knowledge of each of the communities located in and around St. Charles, and I will work tirelessly on your behalf to make your next St. Peters home buying or OFallen home selling experience a pleasant and successful one.For sellers, it is my commitment to help sell your home or property in a timely fashion while helping you attain the highest possible price for your real estate. If you are interested in receiving a free home valuation, I encourage you to fill out my free home valuation form.For buyers looking for homes or other real estate opportunities here in St. Charles or other surrounding communities, I will work with you to find your ideal home. I will provide you with all of the necessary tools for finding the right property. From free access to search almost all St. Charles, St. Louis, Lincoln, Warren, Jefferson County area homes, to the ability to fill out My Dream Home Finder Form, everything I can possibly provide will be at your service. In addition, once we've narrowed down what you are looking for, we can begin the home showing process so you can get a closer look at the homes that should be a good fit. I help negotiate the best possible deal for my clients with each and every real estate transaction.Nothing satisfies me more than seeing the smiles that come with a successful real estate transaction. Thanks again for considering me as your Realtor.