Homeowners associations are extremely common in the United States, with around 84% of new build, single-family homes sold in 2022 belonging to one. Before you move into a community with an HOA, do your research to make sure you know what to expect. To get you started, our team at EZR has compiled a few tips for you to consider.
Know the Benefits
In a well-managed HOA, there are numerous benefits. Though communities with HOAs tend to have a higher property value, an HOA will implement regulations that help maintain and enhance the neighborhood you live in. Along with this, HOA communities often have amenities that the whole community can benefit from, such as playgrounds, pools and dog parks. In addition, regular meetings and even online groups can foster a sense of fellowship in the neighborhood.
Before you join an HOA, it’s smart to check out the rules and regulations to make sure you’re okay with any limitations given. Some communities have rules against on-street parking, pets, fences and more. Once you’ve figured out all of the rules, make sure you know and are comfortable with the cost of joining. Monthly fees cover regular maintenance, insurance, reserve funds, etc.
Read the Fine Print
Do your due diligence to research how the HOA is managed. If it’s run by a company like EZR, you know the community is managed effectively! Most poor HOA experiences come from communities with uninvolved management or an inconsistent board. Do a little research on the internet or with people who already live in the community to see if the neighborhood and HOA are right for you.
If you have any questions about joining an HOA, our experts at EZR Management can help. Reach out to us today with any questions or concerns.