HOAs have grown in popularity over the past couple of decades, especially in newer master planned communities. Many homeowners turn up their noses at the idea of living in a neighborhood with an HOA, but they aren’t all bad. It’s important to do your due diligence in understand the rules and regulations of the HOA before you buy a home.
Here are 3 pros and cons of having a home in an HOA:
Improved Curb Appeal
The main idea of an HOA is to prevent “that neighbor” from driving down home values by decreasing the curb appeal of the neighborhood. Depending on the neighborhood this can be as simple as planting flowers at the entrances to regulating paint colors for the houses in the neighborhood. Overall, these regulations will keep the neighborhood looking nice and prevent houses and lawns from looking dilapidated. Before you buy, review the bylaws of the HOA and decide if you are willing to living within the guidelines.
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