What is HOA and Why Is It Important?

What is HOA and Why Is It Important?

HOA stands for Home Owners Association. For some, having an HOA is a deal-breaker. For others, they wouldn’t want it any other way. An HOA adds an interesting addition to many home purchases and introduces some things that could be extremely valuable for you as a new homeowner. So, whether you’re looking to purchase a home or are a new homeowner, what and how does HOA impact you?

Front of a multi-story home

The Basics of HOA

Homeowners Associations are organizations usually created to specifically develop, secure, and generally care for a specific neighborhood. If there is a clearly marked neighborhood, there is the potential for an HOA. Many apartment complexes, condos, and tight-knit neighborhoods have HOAs behind them.

What Does an HOA Do?

We know they can care for the neighborhood, but what does this mean? What is HOA? Every HOA functions a little differently and the things they do can vary tremendously. The HOA will typically do a number of things for a community.

  • They maintain various community amenities. This can include tennis courts, pools and spas, massage room, fitness rooms, and much more.
  • They help maintain the exterior structures. This includes anything from the roof to the exterior painting, the landscaping, and the parking pavement.
  • They facilitate and manage quality-of-life features, including anything from recycling, pest control, and more. These are features homeowners would typically pay for directly.
  • They may pay for and supply maintenance workers and security officers.
  • They facilitate social groups, fostering a community space and common grounds for residents. Common groups include card games, chess, crafts, and much more. Residents can also propose ideas.

While HOAs are common for senior communities, they can be present in any neighborhood.

How Does an HOA Work?

How do they pay for these services? Owners, whether they like it or not, must pay HOA fees. These are usually paid by the month. Owners can rent out their property to tenants, and owners often carry the HOA fees directly.

HOAs also have numerous rules and restrictions that owners must abide by or face property liens. The rules are created to make a safe and consistent space for the owners. This could include items allowed on an outdoor patio, the height of new home additions, the color of the front door, and a whole lot more.

There is typically a rulebook that dictates how an HOA operates and what it controls and how. It is important you know these things before buying a home because they could affect your overall vision and expectation for the home.

Small plant stem in the middle of coins

Why is HOA Important?

Some people say the HOA is an indicator of the quality of life. They can step in and help in a vast variety of different ways without burdening the owner. They can help pay for features the owner would otherwise have to take care of. They can help build a community lifestyle, supporting safe and secure features to make home a little better every day.

So why is HOA important? The benefits of a homeowners association are clear- a better community. Some people see it as a necessary component. The fees pay for themselves tenfold by the simple addition of community amenities, social groups, exterior home care, and much more. Interestingly, others see all this as needless intrusions.

Do you want an HOA or not? It’s always important to understand what an HOA is and isn’t- to make an informed purchase. Contact our team today to learn more about the ins and outs of what an HOA does and how it works. The team can direct aspiring homebuyers through the procedure and learn all about the HOA system. Every neighborhood works a little different.

Think of it like this: you are not just buying a home, you are buying a safer community. If you’re interested in one of our Nassau County homes, we can let you know if it is part of an HOA.