You Ask, We Answer: What Are the Benefits of Living In an HOA?
If you’ve found your dream home on calcagni.com but are curious about buying a house with a homeowners’ association, we’ve got you covered. We’re breaking down what an HOA entails, and what the benefits are of living in a home with an HOA. Keep reading to learn more.
What is an HOA?
According to investopedia.com, “A homeowner’s association (HOA) is an organization in a subdivision, planned community, or condominium building that makes and enforces rules for the properties and residents. Those who purchase property within an HOA’s jurisdiction automatically become members and are required to pay dues, known as HOA fees.”
What are some benefits of living in an HOA?
For many homebuyers purchasing within an HOA, one of the top benefits is consistent property values. The board of the HOA—whose members also live in the community—helps to ensure each investment in the community retains its value. To ensure this is the case, all owners within the HOA must comply with the community laws, including upkeep of their homes, lawns, and personal property. Doing so ensures the value not only of the home you own, but all the homes within the community.
A draw for many buying HOA homes in Connecticut is the availability of amenities within the community. For some subdivisions, this may include a community pool, walking trails, or common areas in which to host larger gatherings. For others, gyms, protected wetlands or parks, even playgrounds are available to anyone who has purchased a home within the community. Because the HOA oversees these amenities, they are almost always well taken care of, making them a continued draw.
Those buying homes with an HOA aren’t just buying a home in Connecticut. They’re also buying into a community. Many HOAs provide opportunities to socialize with neighbors, from summer cookouts to Halloween trick-or-treating. This sense of belonging to a community is a powerful draw for many people who want the independence of owning their own home, as well as the connection that comes with bonding with neighbors. Many people within an HOA community have similar lifestyles, whether it’s families with young children or pets, or a 55+ community where many homeowners are closer to retirement age.
Ease of living
Low-maintenance living is also a huge draw for those who live in HOA communities. Driving into your neighborhood and seeing a well landscaped community may be an instant boost for many homeowners; for others, it’s the knowledge that a certain standard of compliance is set in place to deter unruly behavior or sub-par property maintenance. Having your garbage taken care of, trees trimmed, and lawns kept nice and tidy are often appealing to those living in an HOA.
Wherever you decide to call home in Connecticut, your Calcagni Real Estate agent can help answer any questions about HOA living and more. Reach out to them today!