HOA ImageIf you’ve never bought a house under the management of a homeowner’s association, their rules and limitations could be completely unfamiliar. Most home buyers look forward to making their own choices when it comes to paint, outside features and anything they build on the property lot. However, if you move into a community where these rules apply, you are no longer able to do this.

The homeowners association enforces a set of rules and regulations with a signed contract. Once you have signed this document, you agree to follow these rules at all times. They could include parking arrangements, yard layouts, and any exterior changes you make to the house. If you’re uncomfortable with outside input on these choices, then perhaps you should reconsider your new location.

Benefits of Home Regulation

So why do people move into these communities? The same limitations the management company imposes also help maintain property values and a safe community. Drive through a neighborhood in your town where there is no management and look at the variety of choices people make. Some grow beautiful gardens and maintain their houses. Some park old jalopies in the front yard and let the gutters fill with leaves every year.

Higher Property Values

The property values in the neighborhoods where people care stay at a higherlevel. It also increases community awareness and residents pay attention to visitors and potential criminals alike. In the neighborhoods where regular maintenance is neglected, the property values can decrease significantly. Crime rates may skyrocket as most people don’t pay particular attention to their neighbors.

Future Real Estate Sales

When the homeowners association enforces a set of regulations, they are forcing the local residents to maintain their profitable investment. That means that you can resell the property later on for a higher price. It also reduces some of the worries about break-ins and random crimes being committed. The fees you pay each month pay for a variety of services within the community itself. These may not be available in other neighborhoods and offer yet another profitable selling feature.

If you set up a meeting with the homeowners association representative, you can get some personalized advice before you sign any contracts. They can also help you plan ahead for the monthly fees and let you know of alternative payment options. Usually, they have documentation explaining what they offer to the local community so you can compare services. By educating yourself about homeowners association benefits, you’ll make better choices regarding house location, square footage and home maintenance responsibilities.

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This is filed under Home Buying.

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