Benefits of HOAs and How They Work

Benefits of HOAs and How They Work

Homeowners’ associations, or HOAs as they are commonly known, are basically neighborhood governments that manage several elements of your neighborhood through a set of established standards that every homeowner must adhere to if they own a home in the neighborhood. These rules govern the color and exterior details of homes, the number, and placement of parked vehicles, yard maintenance, and allowable holiday décor. This helps maintain a uniform aesthetic and avoids unkempt and disorderly areas of the neighborhood. The purpose of an HOA is to help maintain a higher quality of life for those living with its boundaries. HOA leaders live in their communities and therefore have a vested interest in any decisions affecting the future of the community.

Membership in a homeowners’ association is mandatory if you purchase a home within the HOA limits. Dues are assessed, and neighborhood amenities and services are offered in return for your payments. These can include such facilities as a neighborhood clubhouse or community center, private park, playgrounds, tennis courts and other recreational areas and facilities, or perhaps a community pool. Many HOAs also take care of basic maintenance, snow removal during the winter months, and pest control. This can save homeowners time, money, and stress, and ensures every home stays in good working order during all four seasons.

One of the biggest benefits of belonging to an HOA is that membership often helps increase and protect the value of your home by maintaining a safe and attractive neighborhood, where property values remain stable. This is a great benefit for homeowners who wish to sell their homes at some point in the future. While living in a neighborhood governed by an HOA, many homeowners enjoy participating in community building activities such as summer pool parties or block parties, community garage sales, and holiday parties. These activities give neighbors a chance to get to know one another and build a strong sense of community.

If you are searching for a new home in Colorado and have questions about neighborhoods or HOAs, feel free to contact us today at (719) 535-9030 or (719) 499-4400. We can help you decide which community is the best fit for your family and lifestyle, and put you in a home and neighborhood that are just right for you.

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