Whether you are moving into a residential property you recently bought or have started renting, chances are you’re moving into an HOA-managed community. Nowadays, you’ll hardly find a residential property that doesn’t belong to an HOA. For those who have never lived in such a community before, the top-of-mind question usually is “Do I really need a homeowners association?” Find out below why an HOA-managed community is the best place for you and your family:
1. You have “instant” support and assistance
Moving into a new neighborhood usually means you have no one to run to for support or assistance during the first few months or even first year in your new home. When you belong to a homeowners association, you’ll immediately have access to the support and assistance they provide to all their members. You’ll have peace of mind knowing you’ll have someone to run to in case of emergency.
2. You will feel safer at night
In relation to the above, knowing that you’re moving into a community that’s kept safe and secure by the HOA 24 hours a day, seven days a week translates to sleeping soundly at night. This is especially true if you have young kids sleeping in the next room. You know they are safe inside your house and within the premises of the community.
3. Property value is maintained
When you live within an HOA community, there are certain rules and regulations you must follow for several reasons, one of which is to maintain property value. Since a real estate property is an investment, it will be prudent on your part to take the necessary steps to ensure that its market value will not depreciate, and instead, even appreciate. This makes for a good investment should you decide to sell in the future. Even if you don’t plan to sell, it’s best to keep this in mind when looking for a new house to move into.
Studies reveal that an HOA can significantly increase property value, more than five or six percent from those that don’t belong to an HOA community.
4. Access to amenities
From private parks to pools, gyms or fitness centers, function halls, and more, HOA communities provide certain amenities to their homeowners. These are private amenities that can only be accessed by the homeowners and their families, and since these are maintained by HOAs, you’ll know they’re safe, clean, and of course, functional.
There are several other benefits to moving into an HOA-managed community. Do your research on the HOA regulating your property so you’ll know whether or not it is ideal for you.