When looking to purchase a home, you may notice many homes are now in a Home Owners Association. Is this a good fit for your family? In this blog we will cover the Pros and Cons so you can decide for yourself.

Pros:

Neighborhood Appearance - Hate to see over grown lawns, people working on cars in their driveway and boats parked in the yard? HOA's typically have very strict rules regarding upkeep and appearance.

Up Keep- One of the pros is certainly having property maintenance like shoveling show and mowing the grass done for you. One less thing to worry about, right?

Neighbor Wars-

Have an issue with your neighbor about the tree on their property thats limbs are falling into your yard? Have a neighbor with a dog that barks all night? Take it up with the HOA Board or Management instead of dealing with it on your own. 

Access to Amenities- Most HOA's offer amenities such as playgrounds, pools and fitness centers and community use which certainly adds value.

Cons:

Fee's... and lots of them!- Although the maintenance and Upkeep is a plus, it certainly comes at a cost. Expect to pay extra fees over your monthly mortgage. The HOA may have the authority to foreclose on your home if you get behind on these fees so be sure to factor these extra costs in.

"Cookie Cuter" style- This one could be either a pro of con depending on preference. Associations typically have homes very close together and the homes are all built in the same style, size and colors. There can be fairly strict covenants preventing owners from being able to choose their own paint colors or even change certain visible aspects of the home. 

Risk of Violations- Associations typically have strict rules in place to help maintain the high quality of life in the community. If you violate these rules you can face various consequences including fines. 

Have you decided on a home with an HOA and need an estoppel letter or Municipal Lien Search before closing? Send us an email today.