Homeowners associations are becoming more common across the United States, and are most prominent in recently built single-family homes and subdivisions. Though it may seem like an HOA is intimidating and enforces many rules, it also brings several benefits to residents and their properties. Here are my thoughts to consider if you’re unsure that a community with an HOA is the right fit for you

Amenities

• Communities with an HOA often feature shared amenities and common areas for residents to enjoy. Several amenities are often free for use as part of the HOA membership. For example, The Meadows in Sarasota, Florida, where several of my clients and I live, houses a variety of recreational activities, including a state-of-the-art golf course, a country club, fitness center, tennis, multiple swimming pools, pickle ball court, playground and several outdoor spaces and trails.

Maintenance and lawn care

• Because HOA communities often have a uniformed look, membership fees sometimes cover regular maintenance services. Some communities cover lawn care services, which means residents don’t have to worry about mowing their own lawns. Other examples may include patching up potholes on roadways, replacing bulbs in light posts and pruning shrubs throughout the community.

Your home value can stay steady or even appreciate.

• Because the community is well-maintained, homes that are part of an HOA retain their value better than homes in non-HOA communities. HOA requirements on a property’s appearance and conformity with neighbors will help a home appear more desirable to house hunters. As a result, HOAs can often help homes sell at a higher value than comparable properties outside the community.
  

Homeowners associations offer a range of benefits. However, it’s always important to remember to read the fine print. If you’re considering purchasing a home in a managed community, ask your realtor to obtain the HOA’s records and covenants for you to review and determine if the community is the right fit for you. If you have questions about HOA communities, including The Meadows, contact me today at 941-225-1500 or amychapman@michaelsaunders.com.