Buying a House | Drawbacks and Benefits of an HOA in Georgia
HOAs often get a bad rap. In reality they can help to provide a wonderful environment to call home. There are many benefits and amenitiesthe come along with living in a community with an HOA however its notthe right living situation for everyone.
In our latest post we will discuss thedrawbacks and benefits of an HOA controlled community.
Benefits of an HOA
Pros:
Amenities!
Having an HOA will typically mean you have access to shared amenities that you dont have to clean repair or maintain in any way. Swimming pools tennis courts and park-like settings can all be expected. Some might offer a fitness center or clubhouse. (Of course every community is different.) For example owning and maintaining a pool of your own can be a lot of work. Cleaning maintenance chemicals these things can really add up. Living in a community that takes care of this for you will save you time and money.
Keeping The Peace Between Neighbors
We have all lived next door to that one neighbor who just drove you crazy. From loud music to dogs barking all night to having your driveway blocked disrespectful neighbors can make home-life very unpleasant. Typically you would be dealing with the issues on your own which can ultimately create a greater divide between you and your neighbor. However when you have an HOA toact as a mediator issues such as the ones mentioned above can be resolved peacefully and without the problemsescalating into something bigger.
Less Overall Maintenance and Responsibility
An HOA will typically maintain the landscaping and grounds. Many times when you are living in a condo community outdoor maintenance of your home is included as well. This includes painting hardware and repairs.There are TONS of other things an HOA might cover depending on the community these can include: trash removal snow removal pest control tree trimming roofs etc. Having someone else take care of all these chores will free up time for you. This is perfect for busy families or older homeowners who dont want to spend their Sundays mowing the lawn.
Cons:
Fees amp; Assessments
Living in an HOA will require you to pay a monthlyfee. This fee varies by community but some can be quite high ifmany amenities are offered. The average HOA fee runs about $400 a month. If you miss HOA payments penalties can be enforced. In someinstances an HOA can even foreclose on your property!
Also if the communityrequires a major repair or improvement and association lacks funds they will create an assessment to be paid by all residents of the HOAs jurisdiction.
THE RULES!
Oh the rules. Every HOA is different. Each creates its own set of covenants conditions and restrictions (CCamp;Rs) by which they operate. Not being able to rent your home choose your paint color or decorate youryard the way you like are just a few of the things you might have to contend with. Before you move into an HOA community fully read their CCamp;Rs to make sure they wont negatively impact your quality of life. It is your home after all you want to make sure you are able to enjoy it.
Lack of Privacy
When you live in a community with an HOA some residents can really take advantage of it. There is always the one neighbor who is looking for things to report. Some HOAs can be overbearing with continual inspections and drive-bys. If you are looking for a home with an HOA talk to some neighbors and see what they have to say. Do they seem pleased or annoyed?
HOA monitored communities can offer convenience multiple amenities as well as peace of mind. However they arent right for everyone! We are ready to help you determine what is right for you!
Are you looking to purchase a home in Atlanta ? Find out if living with an HOA is the right decision for you! Send us a message telling us about your situation or give us a call now!
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