What Are HOAs And Do They Benefit Me

Dated: 09/21/2016

Views: 1149

Image title    Congratulations! You've either just bought a new home or are in the process of buying you a home, either way buying a home is a huge accomplishment! You have your dream home in the most ideal neighborhood possibly with common areas such as a pool, a gym, or even a clubhouse. With living in a great neighborhood sometimes comes HOA fees. Never heard of these fees before? Maybe you have and just aren't sure what they are or what they are for, well I've got your back!

    Homeowner association fees are set by the Board of Directors, who determine each home owner’s share dependent on projected annual expenses for the association. These fees are paid monthly by the homeowner. The money is usually used for ongoing maintenance and repairs to shared amenities, common areas, or shared equipment. Although every association has different amenities and common areas which come with different policies and rules. Because every association is different it is important to read your community's rules to be sure you comply with their standards. 

    HOA fees can sometimes have a bad name. Some homeowners don't use the amenities or common areas so they do not feel that they need to pay for the things they do not use. Other owners feel restricted with what they can and cannot do with their home. However living in a homeowner's association neighborhood has a lot of perks. The rules set by the association prevent your neighbors from doing certain things which may highly benefit you! Are you not a fan of obscene colored houses in your neighborhood? You can find an association that doesn't allow for crazy colors. Most associations also do not allow trash to be present in the yard, and no ridiculous parking lots all over front yards. These rules will help enhance your lifestyle in a safe, clean and beautiful neighborhood! Not to mention the amenities that can come along with living in a homeowner's association can be out of this world, from community pools to a club gym!

    So while some homeowners may find HOA fees to be pesky and unnecessary I believe to live in a well kept neighborhood without your property value decreasing the association is a great thing to have! I hope this information proves to be helpful to you!  Are you looking to get a free list of all homes in Mohave county that do not have HOA fees? Click here https://goo.gl/rFCJsb or call us at 928-377-5640. 

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